Will Gold Prices Go Back to $1853?

Gold Price Technical Outlook For Thursday [10-02-2022]

The gold (Yellow Metal) trades around the $1825 retracement of the latest daily slide. From a technical point of view, the bright metal has room to extendits gains.

The intraday chart shows that it’s currently developing above all of its moving averages, while the RSI indicator aims higher at around 56. However, the Momentum indicator remains within neutral readings, suggesting some prevalent caution among speculative interest.

Gold Silver Reports For Trading

The 4-hour chart shows that gold stands above all of its moving averages, with the 20 SMA accelerating north but still below the longer ones. Meanwhile, the Momentum indicator loses strength but remains within positive levels. On the other hand, the RSI indicator heads firmly higher, approaching overbought readings. gold could retest 2022 high at $1,853 on a clear break above the immediate near term resistance at 1,832.

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Will Gold Prices Go Back to $1853?
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