Gold prices are experiencing a sharp decline today, April 23, 2024, since the beginning of this week. The current price of gold is $2338 per ounce, and it is expected that the weakness in gold prices against the US dollar will continue for the remainder of this week until Friday, April 26, 2024.
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| Gold Price Today, April 23, 2024 |
Article Content :
- Gold Price Today, April 23, 2024
- Key Economic News Impacting Gold Price Today
- Daily Analysis of Gold Prices
- Another Trading Opportunity Today, April 23: Buying Bitcoin
- Buying Opportunity on Bitcoin Today, April 23, 2024
1.Key Economic News Impacting Gold Price Today:
The ongoing conflict between Israel and Iran on one side and Israel and Palestine on the other side is considered the primary driving force behind gold prices. Gold prices have seen a significant resurgence in recent days as it is perceived as a safe haven during times of wars and political crises. Indeed, following the Iranian attack on Israel, gold prices reached a historical peak. It is also expected that the crisis will contribute to the rise in Bitcoin prices in the coming hours. A corrective decline in gold prices is expected in the next few hours due to the reduced intensity of the Israeli-Iranian conflict and also due to psychological and technical indicators supporting a correction in gold prices in the coming hours.
2.Daily Analysis of Gold Prices:
Gold prices are currently penetrating a strong demand zone at the level of 2363, which is a very strong demand zone touching the upward trendline for several days. The recent breakout and breakdown of this trendline indicate a future decline in gold prices and their correction before resuming the upward trend. Therefore, it is expected that gold prices will slightly rebound towards the supply zone at 2356 before resuming the upward trend, as shown in the analysis chart below. Thus, we expect a correction in gold prices towards the zone of 2356 and we sell gold as indicated in the chart and trade with the current corrective downward wave in gold prices.
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| Gold Price Today, April 23- 2024 |
3.Another Trading Opportunity Today, April 23: Buying Bitcoin
As shown in the chart below, Bitcoin prices have witnessed a strong uptrend for several days against the US dollar in both small and large time frames. Bitcoin prices today are still in a strong upward trend.
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| Trading Opportunity Today, April 23 Buying Bitcoin |
4.Buying Opportunity on Bitcoin Today, April 23, 2024:
As shown in the chart below, we have a buying opportunity in the quarter-hour time frame on Bitcoin against the US dollar, with a pending buy order from the zone of 65743 and the expected target at 67300, which represents a risk-reward ratio of one to four.
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| Buying Opportunity on Bitcoin Today, April 23, 2024 |
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