Share market likely to continues the up rally and gold price may stable above 1,700

From last week, the gold price rose $134.80 (8.3%) hand in hand with silver up 482.9c (16%). That's as good as it gets. You can't expect moves like that to last forever -- or even very long.
Last Friday gold flattened, losing 50c to shutter Comex at $1,746.20. Think of a baseball thrown into the air, how it rises and rises and rises, then seems to hesitate and begins to fall.

Looking at a five day chart, gold was trapped below $1,660, broke out Tuesday and ratcheted to $1,725, then yesterday stepped to $1,750. Chart shows three plain steps. The gold price hit its 50 DMA yesterday ($1,739), a frequent target for upside corrections. Above awaits also the $1,775 milestone where gold broke down in late-September.

This week Share market likely to continues the up rally and gold price may stable above 1,700 level. European fix was sufficient illusion to suck in most of the world and give all the positive news.

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