- Gold has been holding on above $1,250 a troy ounce this Thursday as the metal is in its second day of consolidation after the $19 bull move of Wednesday.
- Bulls have broken above the current bull flag and have found support at the 200-period simple moving average. However, they are not entirely out of the woods just as the US Non-Farm Payrolls on Friday is likely going to dictate whether gold will break above 1,260 or will retrace below the 1,250.00 level.
Spot rate: 1,257.40
Relative change: 0.02%
High: 1,259.80
Low: 1,251.00
Trend: Bullish above 1,250.00
Resistance 1: 1,260.00 figure
Resistance 2: 1,264.14 June 25 low
Resistance 3: 1,270.00 figure
Resistance 4: 1286.10 May 21 low
Support 1: 1,254.23 June 28 high
Support 2: 1,250.00 figure
Support 3: 1,245.65 last week’s low
Support 4: 1,237.60 current 2018 low
Support 5: 1,204.00 July 10, 2017 swing low