The price of gold is trading up over $40 on the day and in the process is extending to a new cycle high. The price is trading at the highest level since the week of August 10, 2020. The high price in 2020 reached $2075.14.
Looking at the hourly chart below, the price high from earlier today was broken in the current hour at 2020.98 and once broken the buying intensified. That will now be a new intraday risk level for the buyers. Stay above is more bullish. Buyers in firm control.