Now gold is testing support at 1950. If you draw a moving average for 50 days, the chart will be right on this moving average. Another - the current level is about 50% rollback from the movement on June 29 + July 20. Of course, there are weighty factors against gold - such as the highest rates in more than 20 years. But there are also extenuating circumstances - a series of weak inflation data in the US. Most likely, this may push investors to the idea that the series called "The Fed Raises the Rate" has come to an end. And if buyers see the steadfastness of a level that has withstood three attacks in less than a month, it will inspire them to continue buying metal. Still, let's not forget - we don't know how the graph will behave. Therefore, it is advisable to have a strategy ready in case the level fails. Here, the next support may be the level of 1900.
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