Home Gold technical analysis: Yellow metal surges to 6-year highs at $1,510.15/oz

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Gold technical analysis: Yellow metal surges to 6-year highs at $1,510.15/oz

FX Street

Published date: 7 Aug. 2019 | 16:37

The risk-off mood sends gold to 6-year highs.
The level to beat for bulls is 1,510.16, the 2019 high.

Gold daily chart

Gold spiked to 6-year highs as the risk-off mood persists in the markets.

Gold 4-hour chart

The yellow metal bulls will need to break above 1,510.16, the 2019 high, to travel north towards 1,530.00 and 1,555.00 resistances. Gold is trading above its main simple moving averages suggesting bullish momentum in the medium term. Support is seen at 1,477.00 and the 1,454.00 levels.

Additional key levels

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