GOLD remains stable over 2000 USD mark, after reports that central banks are accumulating at fast pace from the precious metal. The biggest buyers of gold are the countries from BRICS, who are trying to go further away from US Dollar being their reserve currency.
Both MACD and RSI indicators are currently confirming the trend, with MACD histogram being above 0 line and RSI way above the 50 neutral line.
If the current trend continues, targets of 2120 USD can be expected.
As pivot point might be considered 1935 USD, and if the price goes below it, it is possible further down movement to 1885 USD.
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Both MACD and RSI indicators are currently confirming the trend, with MACD histogram being above 0 line and RSI way above the 50 neutral line.
If the current trend continues, targets of 2120 USD can be expected.
As pivot point might be considered 1935 USD, and if the price goes below it, it is possible further down movement to 1885 USD.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.