Gold bears looking for a break of $1,455 on risk-on headlines
Gold is trading around $1,460, weighed on at the open by a series of pro-risk appetite headlines and by a US dollar which has garnered demand on positive domestic data. Prices have dropped at the start of this month, falling by roughly 5% to around $1,445 before rebounding to test $1,480, picking up on risk-on and risk-off themes and money flows.
Predominantly, it has been trade talks and Brexit at the forefront of the geopolitical themes as described in this week’s Asia open: Recap of latest developments as risk-on tones emerge. Read more”¦
Gold Technical Analysis: Down for third straight day, 100-day EMA caps immediate upside
Gold prices slip beneath 100-day EMA while taking rounds to $1,461 during the initial trading session on Monday.
The yellow metal is trading below the 100-day and 21-day Exponential Moving Averages (EMAs) and it takes clues from 12-bar Moving Average Convergence and Divergence (MACD) that has been sending bearish signals recently. Read more…
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