Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Short term outlook on GOLD

Support 1: $ 1178 (23.6% Fibonacci Retracement)

Support 2: $ 1157

Current Rate - $ 1188 (0330 GMT )

Resistance 1- $ 1197

Resistance 2- $ 1204 (38.2% Fibonacci Retracement)

Commentary:

  • Gold is currently trading at $1188 after making low of $1184

  • Gold prices dipped on Wednesday after the National Association of Realtors said existing home sales increased 6.1% last month to 5.19 million, its highest level in 18 months

  • Gold's near term support falls at $1178 and daily close below this level opens the new trading range of $1157-1178

  • Alternatively, reversal from that major support brings the pair towards 1208 level again

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.