FX.co ★ XAU/USD, GOLD

In principle, nothing has changed for GOLD in the sense that the upward movement continues. On Friday, once again, new highs were reached, but we still couldn't manage to stay above 4871. Today, we opened with a gap down and immediately started to decline, although this decline didn't lead to anything significant as it has already been bought up. However, we still haven't managed to close the gap, and now we are stuck in a small range. Of course, the demand for the dollar is affecting this as well, so it's important to see how we will trade against the Americans. Overall, I am still looking south, and therefore, if we reach 4871 again, I only consider selling at that level.