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GOLD - USD
GOLD - USD
Ticker: XAUUSD ISIN: Type: Commodities
Open: 1,203.74
Change: +3.04
Volume: 31,694
Low: 1,203.20
High: 1,207.60
High / Low range: 4.40
1,206.76 USD (+0.25%) 2017-01-20 01:39:36 Real time - Gold & Silver Spot

GOLD - USD - Gold Plummeted More Than 13% Since October - 4H

The precious metal created an aggressive sell-off since October as it plunged more than 13% and is currently recording the sixth negative week in a row. The XAU/USD affected from the U.S. dollar sharp rally to the upside and is falling for the third consecutive month. Meanwhile, the pair printed a fresh 11-month trend low at $1,122 following the significant bounce off the $1,337 resistance handle.

The technical structure remains bearish as the three SMAs (50-SMA, 100-SMA and 200-SMA) are pointing downwards with strong momentum while the technical indicators are following a negative path. The Relative Strength Index (RSI) is moving in an oversold area despite that is pointing upwards. The MACD oscillator crossed its trigger line to the downside while it lies below its mid-level. The next strong support level to watch is the $1,055 but do not forget the scenario for a correction to the upside until the $1,160 barrier.
GOLD - USD - 4H
GOLD - USD live chart
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