Gold price rose again, big bull candle was seen

The price of gold is increasing and is expected to increase further. Gold price is currently at $1808 touching a support level. A four-hour long candle took the price up to around $39 which is very surprising. The low and high of this bull candle are $1785 and $1824. The market is now retracing a bit and stuck at the support level.

I think the price of gold will go higher. A big bounce up could give another $100 in profit. But nothing can be said for sure. It has lit the green light and has already started to retest from the support level. Unless something very different happens, the market will run ahead. If we look at the U.S. Dollar Index (DXY), we can see that it is going down, that is, the value of USD is decreasing. The price of gold may be increasing because of this. Current time value of the Dollar Index (DXY) is 103.81. which was 107.83 on 21-11-2022. It is understood that the value of USD is decreasing a lot. Gold still stands tall for its own merits.

Stock markets are down and indices have lost value. People may be looking at gold as a reliable investment at this time. I wish that the price of gold will increase more. We can buy gold because we have confidence in it. Go Gold Go Go Go

Learn trading yourself and understand the market to invest in gold. Don't invest in gold on other people's word. Know that trading is very risky. Take the right steps and be safe.