FX.co ★ Gold reached our $1,964 target

Gold price reached new highs today. Price surpassed our bullish target of $1,964 and as we said in a previous analysis, our next target is at $2,010 now. Trend remains bullish with no reversal sign.

As we suggested in previous posts, traders should not bet against this strong up trend. Gold price is in a parabolic upward phase and we continue to consider every pull back as a buying opportunity. Gold price has just broken long-term resistance levels and trend lines and these bullish signals should not be ignored. Yes gold might make a deep pull back but there is no sign of reversal yet. It is too risky to go against the trend.