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Gold: Continuing to See Sellers Above
The gold markets rallied a bit during the trading session on Wednesday but continue to see a significant amount of resistance above the 50-day EMA as there is a bit of selling near the $1850 level. The fact that the market is struggling in this area is perfectly acceptable from a technical analysis standpoint, due to the moving average and the “mid-century mark”, but we also need to pay attention to the fact that rates are rising in the United States, which makes gold quite a bit less attractive due to the fact that you can get a yield by simply holding paper. On the other hand, if we do see the US dollar get ... (full story)
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