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Gold Price Outlook: Precious Metals Seeking Bullish Catalyst

From dailyfx.com

Gold prices remain turbulent with bulls and bears battling over the direction of precious metals. The last five trading sessions steered the price of gold and silver lower on balance by 1% and 3% respectively. This marks the first weekly decline for gold and silver since the shiny commodities based mid-September. That said, gold price volatility is to be expected amid big swings in the USD and real yields recently. {chart} A relief bounce off the $1,865-price level and 100-day simple moving average sent gold recoiling back higher, but the rebound was undermined by prior support-turned-resistance. The intensifying ... (full story)

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  • Category: Technical Analysis