Gold prices moved lower on Thursday in the wake of an in line retail sales report, that sent the greenback higher against most currencies. Momentum on
Gold prices moved lower on Thursday in the wake of an in line retail sales report, that sent the greenback higher against most currencies. Momentum on gold prices is positive as the MACD (moving average convergence divergence index) recently generated a buy signal. The index is printing in the black with an upward sloping trajectory which still points to higher prices. Support is seen near the 20-day moving average near $1,099, while resistance is seen near the breakdown level at $1,143.
July retail sales were 0.6% compared to expectations of 0.2%, and sales ex-autos rose 0.4% in line with expectations.June headline revised to flat from -0.3%, ex-autos revised to 0.4% from -0.1%.The vehicles & parts components rose 1.4% versus the 2.1% July
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.