Chris Weston, head of research at Pepperstone, said that gold has firmly returned to the eyes of traders. He said that after breaking through the consolidation range that lasted from late June to August 3, both gold and silver have risen, and the price of gold is currently testing 4,400 US dollars per ounce. Weston said that breaking through the July high was accompanied by decisive buying pressure, and the momentum that followed showed that bulls had a dominant position. Client activity has also increased, with positions biased towards the long side. He added that currently 60% of all open gold positions are long positions.

Chris Weston, head of research at Pepperstone, said that gold has firmly returned to the eyes of traders. He said that after breaking through the consolidation range that lasted from late June to August 3, both gold and silver have risen, and the price of gold is currently testing 4,400 US dollars per ounce. Weston said that breaking through the July high was accompanied by decisive buying pressure, and the momentum that followed showed that bulls had a dominant position. Client activity has also increased, with positions biased towards the long side. He added that currently 60% of all open gold positions are long positions.