FX.co ★ king.zelda | XAU/USD, GOLD

GOLD. The US authorities are reshaping the global order, and this has a significant impact in all directions. That's why gold surged so much yesterday. Officials from the US behaved aggressively and boldly in Davos, undermining investors' trust in the dollar. As a result, gold is now heading towards 5000, marking a phenomenal rise and indicating that the world is in a very bad state politically and economically. Investors no longer trust the US authorities due to their inadequate actions, making it unwise to hold assets in US dollars at the moment. Tomorrow, US authorities might even ban the use of the dollar anywhere. However, they are digging their own grave as trust in them is already gone, and strong players from different countries will now emerge. The 4810 level acted as support, and from there, it's almost like heading to 5000. Despite some tolerable news coming out of the US, gold could have decreased, but the fundamental analysis also responded to the events in Davos. It's realistic for gold to reach 5000 now and test this price. GOLD H1: