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#The upward momentum of XAU gold is becoming increasingly clear!
Today, gold prices opened high and then fluctuated sharply. Some are worried it might fall back again. Don’t panic. The high open was due to safe-haven sentiment caused by overnight geopolitical tensions, but the key point is that in the last two hours of yesterday’s trading, it’s obvious that funds quietly entered the market in the 4480 to 4510 range.
Think about it, what kind of funds can keep the actions at the close and the opening of today consistent? Only institutions and big players can do that.
So this morning’s move is just a shakeout—yesterday’s late-day institutional buying (going long), and this morning’s big institutions quickly selling off (going short), all aimed at scaring people out.
Today, gold continues to look bullish. Yesterday, international prices around 4480-4500 had long positions, corresponding to domestic prices of 977.5-982, which are all good foundational positions for an upward move.
Once this shakeout ends, a big rebound in gold will come.
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