– Gold has hit its highest level since June 3, 2021, off the back of the risk-off sentiment and geopolitical issues between Russia and Ukraine.
Subsequently, the price of gold fell very slightly at the start of the session, but the most recent headlines have been noting some fire between the two nations.
Another key point about that price area is that it is close to the 61.8% Fibonacci retracement zone measuring from the all-time high to the swing low at $1673.3/oz.
It will be interesting to see, over the coming sessions, if this remains the case or if the market waits for more information regarding the Russia/Ukraine conflict.
The volume is slightly light right now it will be interesting to see over the coming sessions if this remains the case or if the market waits for more information regarding the Russia/Ukraine conflict.