15:17 · 21 September 2021

🥇Gold bounces back sharply🔼

GOLD
Commodities
-
-

Yesterday, the price of gold dropped to around $ 1742 an ounce, the lowest level since August 12. During today's session buyers became active and the price rose by about $ 30 and managed to break the first important resistance which is marked with the 23.6% Fibonacci retracement of the last downward wave. It is worth noting that from mid-July the bulls are unsuccessfully trying to break above the $ 1,833 level.

If current sentiment prevails, then the next target for buyers is located at $1790 and coincides with the 50.0% Fibonacci retracement. Additionally, an inverse head and shoulders formation may be painted on the D1 interval. Meanwhile, on the EURUSD chart, we see a potential morning star formation. The improvement in global sentiment and possible actions by China to rescue Evergrande may be positive for gold! This is because the dollar is the more important factor when it comes to precious metals, not the market sentiment. The neckline of the aforementioned formation coincides with the key resistance at $ 1,833 per ounce.

Source: xStation5

14 October 2025, 14:23

WTI Crude Plunges Over 2% to Lowest Level Since May

14 October 2025, 13:16

Coffee Futures Soar 5%, Break 400 Cents per Pound

14 October 2025, 12:40

Technical look: Gold falls from the record high🔔

14 October 2025, 09:13

Risk aversion takes hold as China tensions weigh on sentiment

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Join over 1.7 Million investors from around the world