gold outlook , Prices Rise as the Dollar Drops

gold outlook , Prices Rise as the Dollar Drops

gold outlook , Prices Rise as the Dollar Drops

 
gold outlook , Gold prices moved higher because the dollar continued to ease, and an Iranian-backed militia tried to storm the US Embassy within the Iraqi capital Tuesday

 This comes from an intensifying backlash against the US after it conducted deadly strikes on the group. US short term yields moved lower weighing on the rate of interest differential, which put downward pressure on the greenback and paved the way for higher gold prices

Gold prices moved higher pushing through the November highs at 1,516, which is now seen as short-term support. Target resistance is seen near the late September highs at 1,535. Support is seen near the 10-day moving average near 1,495. Additional support is seen near the 50-day moving average at 1,479
gold outlook , The 10-day moving average recently crossed above the 50-day moving average which shows that a brief term up trend is now in situ. Short term momentum has slowed and now features a neutral trajectory after generating a buy signal and a sell signal. The fast stochastic is printing a reading of 95, well above the overbought trigger level of 80, which could foreshadow a correction
gold outlook , The RSI (relative strength index) is now printing a reading of 75, rising from 73 which reflects accelerating positive momentum. The RSI is above the overbought trigger level of 70, and also points to a possible future correction. Medium-term momentum is positive because the MACD histogram prints within the black with an upward sloping trajectory which points to higher prices
gold outlook , Iranian funded militia tried to storm the US Embassy within the Iraqi capital, in an intensifying backlash against the US. after it conducted deadly strikes on the group. Video and photos from the scene showed the blast walls surrounding the compound were ablaze. The protesters flew the flag of Kataib Hezbollah, which the U.S. has blamed for a recent spate of rocket attacks targeting Iraqi base