GOLD - USD
GOLD - USD
1,490.84 USD (-0.05%)
Real time - Gold & Silver Spot
Open: 1,491.63
Change: -0.76
Volume: 8,180
Low: 1,490.52
High: 1,492.11
High / Low range: 1.59
Type: Commodities
Ticker: XAUUSD
ISIN:

GOLD - USD - Is Jumping Higher and Successfully Hit Our Target at $1,301! - 10/16/2017

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  • Timeframe : Daily

GOLD - USD - Daily
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The yellow metal is covering some losses of the previous month and completed a bullish week, surging more than 2%. On the weekly timeframe, the XAU/USD pair is developing within an uptrend since December 2016, confirmed by rising highs and rising bottoms. Over the last ten months, the price rose more than 11%.

The week before the price managed to challenge our suggested target at $1,301 (see technical analysis here: http://bit.ly/2i1dBdc) and now is jumping above the 50-day SMA. Our forecast is a run until the $1,314 resistance level. The RSI indicator is pointing slightly to the north, whilst the MACD oscillator is rising in the negative territory, on the daily timeframe.
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