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Gold Price Chart Posts Bullish "Golden Cross" Formation, Will it Rally?
Gold prices may continue to rise after the precious metal posted a bullish moving average crossover on the daily chart early this week. The “golden cross” formation occurs when a shorter-term moving average overtakes a longer-term moving average and many traders take the crossover as a hint that further gains could be in store. In the case of the gold price chart, the 50-day simple moving average has overtaken the 200-day simple moving average around the $1828 price point and may equip gold with the bullish sentiment required to push higher. chart That said, there are hurdles to be negotiated and an early ... (full story)