Gold trades to a new cycle high and highest level since week of August 10 2020

The price of gold Gold Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Read this Term is trading up over $40 on the day and in the process is extending to a new cycle high. The price is trading at the highest level since the week of August 10, 2020. The high price in 2020 reached $2075.14.

Looking at the hourly chart below, the price high from earlier today was broken in the current hour at 2020.98 and once broken the buying intensified. That will now be a new intraday risk level for the buyers. Stay above is more bullish. Buyers in firm control.