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Gold weakness might have legs
Gold is trading lower again today, recording its second consecutive red candle, but remaining a tad below its recent all-time high of $2,532. Last Friday’s non-farm payrolls figure resulted in an acute market reaction with the S&P 500 index recording its worst weekly performance since 2023, but gold failed to benefit. Similarly, developments in both the Middle East and the Ukraine-Russia conflict continue to have little impact on gold prices. In the meantime, the momentum indicators remain mixed. The RSI remains above its midpoint but shows little appetite for a move higher. Similarly, the Average Directional ... (full story)
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- Posted: Sep 9, 2024 6:37am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 314
