Uptrend as there are lots of good news globally that will push up the gold price….

Israel Palestine
Israel Syrian
Middle east crisis
Global inflation
Russian Ukraine

Update: Gold futures has a well define support around 2320, the major one is 2300. This consolidation is because of weaker Yen pushing the Dollar up. Until then, when the Dollar start going down, Gold will fly off further. Maybe tomorrow, or end of the trading days, or early next week.

I think tomorrow or early next week will send gold fly, as next week have a lot of high volatility for the incoming US Core CPI report. If the report are reporting higher inflation, it will send gold flying. As for US hiking interest rate is very unlikely as many top banks in USA such as JP Morgan stated there will no rate cut or hike this year. For the FED, they are busy being a sugar daddy to the gov and they are not the FED in the 70's that have a strong will and brave enough to go against public and gov opinions. Jerome Powel and his colleagues are scaredy cats.

Somebody blocking the price by selling 1 lot everytime the price up, its like the person is blocking the price action from forming. Need a big whale to throw this person out of the bus. Gold is up like when this counter go to 1.070.

"Instead of a major surge in demand, the record recovery of gold can be explained by an increase in buyers' willingness to pay, spiced with some speculation," says Carsten Menke, head of Julius Baer's next-generation research.

Menke evaluates that monetary authorities, including the People's Bank of China, would have greater willingness to pay than Western investors, with motivations considered more political than economic, but the shift in direction would be "much less widespread than thought."

Julius Baer believes that the Chinese central bank has been reducing its allocation in American Treasury bonds aiming for less dependence on the dollar, with less willingness to be subject to sanctions. Thus, central bank purchases would support prices at structurally high levels, "but not necessarily push them even higher," according to the specialist's understanding.

MD90 told u that the dollar system are evil and broken. reasons for fueling the demand for gold is the expansion moves of De-dollarization. For example, the BRICS.... etc. Second reason is on how many times the FED F***ed up in controlling inflation and how they missed they estimation most of the time. Do you think, people still believes the US financial system where the central bank most of the time are wrong with their judgement about inflation? Financial system in US are slowly deteriorating, in 2008 they didnt bail out the economy, they bail out the banks. Third reason, there is so much uncertainty. so people are looking for "safe haven assets" that is being used thousands of years (gold).