Breaking: Gold hits $1900 as Russia/Ukraine/NATO tensions simmer By FXstreetNews Breaking XAUUSD Gold
eopolitical tensions between Russia, Ukraine and NATO simmer, stimulating demand for safe-haven assets. Gold now trades more than 2.0% higher on the week, taking its two-week run of gains to nearly 5.0%.
A positive technical backdrop has coincided with the increased safe-haven demand for gold; XAU/USD broke above a key long-term pennant structure at the end of last week.it fell back to the $1850 area to test the old long-term pennant and, promisingly for the bulls, found strong support. The bulls will now likely target a move above $1900 and towards the mid-2021 highs in the $1915 area.
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