Gold prices near nine-day high following the latest risk-off moves. An upward sloping trend line from early-January can please the buyers beyond the yearly top. 50-day SMA and eight-week-old horizontal support line will restrict near-term declines. Despite witnessing a pullback from the nine-day high flashed during Thursday, Gold buyers remain hopeful as the bullion nears the record high amid bullish MACD. The yellow metal takes rounds to $1,669.76, down 0.16%, at the start of the Asian session on Friday. While the previous day’s high surrounding $1,675 acts as the immediate upside barrier, February month top, also the multi-year peak, around $1,690 becomes the key for the bulls. Should there be a further upside beyond $1,690, which is more likely based on the technical as well as the fundamental point of view, $1,700 and an ascending trend line joining the highs marked in January and February, currently near $1,710, will lure the traders. On the downside, $1,660 can act as immediate support ahead of $1,650/48 and $1,630 rest-points. However, the precious metal’s declines below $1,630 will be challenged by a horizontal line established since January 08, around $1,611, a break of which could recall a 50-day SMA level of $1,580 on the charts. Gold daily chart Trend: Bullish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Price Analysis: The harmonicity continues on the hourly chart FX Street 3 years Gold prices near nine-day high following the latest risk-off moves. An upward sloping trend line from early-January can please the buyers beyond the yearly top. 50-day SMA and eight-week-old horizontal support line will restrict near-term declines. Despite witnessing a pullback from the nine-day high flashed during Thursday, Gold buyers remain hopeful as the bullion nears the record high amid bullish MACD. The yellow metal takes rounds to $1,669.76, down 0.16%, at the start of the Asian session on Friday. While the previous day’s high surrounding $1,675 acts as the immediate upside barrier, February month top, also the multi-year peak, around… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.