Over the past few days, gold prices have witnessed a strong rise, culminating in the breaking of the last daily peak at the level of $2,480. In the weekly analysis of gold on August 18, 2024, we will examine the best weekly opportunities and expectations for gold, as well as the method of speculation in gold during the coming hours.
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| Weekly Gold Analysis - August 18, 2024 |
The Strongest Gold Prices Today, August 18, 2024
The highest price of gold today is $2,463_The highest weekly price of gold is $2,480.
The lowest price of gold today is $2,438_The lowest weekly price of gold is $2,380.
Daily Gold Prices Analysis - 4Hour Time Frame
Gold prices are currently moving in an upward correction wave in the short time frames and are heading to test the resistance area at the 2,460 level. Therefore, this area is currently the best area for selling gold, provided that new lows are broken in short time frames, as we will show in the chart below.
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| Weekly Gold Analysis - August 18, 2024 |
Gold Price Analysis - on the Quarter-Hour Time Frame
The $2,460 area is a valid area for selling gold currently, but on the condition that the bottom of $2,453 is broken, as shown in the chart below, with a retest on the quarter-hour time frame.
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| Gold Price Analysis - on the Quarter-Hour Time Frame |
The Most Important Frequently Asked Questions About the Weekly Analysis of Gold for August 15, 2024
Should I Buy or Sell Gold Today?
Currently, as stated in the analysis, it is preferable to sell gold, but on the condition that the last low in the quarter-hour time frame is broken, as shown above, and then wait for the retest as shown in the chart.
Should I Invest in the Current Price of Gold?
It is not recommended to buy gold currently because prices are saturated and high. It is recommended to wait for prices to fall to the $2,380 area to buy with the aim of investing in the long term.
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