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| Graphic showing gold analysis by Rooney Nshing, kingofpips. |
Gold (XAU/USD) Analysis (This is not a signal, this is for education purpose to help you understand the market conditions right now)*
Gold reach the new high today after 1 month.
Gold made a fast recovery from the last fall happened on March 9,2020
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.
Signals will be sent to you with entry price, take profit and stop loss. Please be patience and wait for the signal. This gold analysis given for education purpose only.
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