Spot Gold Above $1724 level no shorts, Big rally on chart. We see $1737 —— $1770 Very Very Soon.
Above $1724 level, Only Blast
Spot Gold Above $1724 level no shorts, Big rally on chart. We see $1737 —— $1770 Very Very Soon.
Above $1724 level, Only Blast
Precious metals too have seen massiveintraday movements and virusrelated panic have forced investors to raise cash by selling gold and silver.
GOLD PRICE REBOUNDS FROM KEY PRICE ZONE AS FED DEPLOYS CREDIT FACILITY – The price of gold may extend the rebound from the monthly low ($1451) as the Federal Reserve establishes a Primary Dealer Credit Facility (PDCF), with the operations to “offer overnight and term funding with maturities up to 90 days.”
The gold technical forecast is clearly bullish from a medium-term perspective. Price action in the week ahead could determine if that forecast is at risk and it will be important to watch a couple of key technical barriers.
Gold (XAU/USD) Price Update – The market is forming a base near the $1548 level and the 200 SMA on the four-hour chart. The bulls would need a clear break above the $1,580—$1,585 resistance zone to re-establish the upward bias.
Gold prices is en route to test $1,800 and its rally are unnerving Dow Jones investors. The price of gold has spiked 7.5% within three weeks since late December and its strong rally is unnerving investors in the U.S. stock market.