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Weekly GOLD Forecast – (8.5.2023 – 12.5.2023)

Suggests an attempt to develop a decline and test the support level near the 1985 area. Then, the continued growth in Gold prices with a target above the level of 2185. A test of the trend line on the relative strength index (RSI) will come out in favor of the rise in quotes. Cancellation of the growth option for GOLD will be a fall and a breakdown of the level of 1910. This will indicate a continued decline in quotes to the area below the level of 1845.