Right after opening today’s session, precious metal Gold had a GAP increase from 1869 to 1894 ($ 25) and is now correcting down again. The strong increase this morning is likely due to the negative news about the bankruptcy of SVB US bank. Bankruptcy and this negative information will continue to make investors more cautious so that the Gold price will benefit.
Closing last week Gold also had a “turn against the current” when it ended with a push candle around 1867, this will be even more positive for Gold price in the beginning of the week, so in my opinion My personal opinion when gold corrects to fill GAP this morning could be our buying opportunity, at least until tomorrow night when US CPI is released. If the US CPI is higher than expected, Gold is likely to rebound strongly this week.
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