Gold hits $2000 for the first time ever

Spot gold continued to rise and surpassed the historic level of $2,000. Gold rally could continue especially if there is another round of QE from the US Federal Reserve and other major central banks. During today's session, gold rose 1% and silver is appreciating almost 5%. However, we are currently observing a correction move, sellers appeared at the local retracement level of 161.8% Fibo. In the event of further declines, the nearest support is located at $ 1988.8 - which is the lower limit of the 1: 1 structure.

GOLD M15 interval. Source: xStation5

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.