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Wednesday, May 25, 2022

Gold XAUUSD High Low Analysis

Gold reach the new high today after 1 month.

Gold made a fast recovery from the last fall happened on March 9,2020

Gold XAUUSD rise to new highs 1710 USD per barrel
Gold price rising to high due to coronavirus pandemic

Now, it has reached the top most price level due to the continuation of Coronavirus pandemic.

This shows that Gold is still considered as Safe haven asset by worldwide investors.

On Sunday, Saudi Arabia and Russia Ended their oil price war by making the biggest oil production cuts in history, following pressure from US president Donald Trump to support the energy industry at this coronavirus pandemic.

However, Gold still have chances to move up until 1900 if the world financial situation continues to remain negative due to coronavirus lockdown.

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