Gold: Approaching $1800

Gold: Approaching $1800

From dailyforex.com

Gold futures rose after the US government announced that US consumer prices rose more than expected. Accordingly, the yellow metal may be on track to achieve its best performance in one session in several months, supported by weak Treasury yields and a weaker US dollar. The price of an ounce of gold moved towards the resistance level of $1796, achieving gains of about $40 dollars in yesterday’s session alone, and settled around the $1790 level as of this writing. Gold prices have been disappointing in 2021, falling by 6% year-to-date. But the precious metal is up 1.7% this week. Silver, the sister commodity of ... (full story)

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Oct 14, 2021 1:23pm Oct 14, 2021 1:23pm

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The real question is whether or not Gold will rise and sustain the rise beyond that handle possibly to 1908 before turning. Hard to say anything at all about the future of Gold with much credibility at this point apart from stating the obvious which is that the turn higher since 1721 is unlikely to have run out of steam at the levels seen ---> but that says precious little of use for gaming direction.

The Crow (-_-)

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Posted: Oct 14, 2021 6:51am
Submitted by:
Newsstand

Category: Technical Analysis

Comments: 1 / Views: 138