Gold prices stabilized and continued to consolidate above the recent breakout level near $1,115. Prices of the yellow metal faced headwinds as the dollar
Gold prices stabilized and continued to consolidate above the recent breakout level near $1,115. Prices of the yellow metal faced headwinds as the dollar gained traction following stronger than expected housing data released during the U.S. trading session.
Prices are poised to test resistance near former support which coincides with the 50-day moving average at $1,142. Momentum on gold prices remains positive with the MACD (moving average convergence divergence) printing in the black after recently generating a buy signal which points to higher prices. The recent consolidating has pushed the RSI into the middle of the neutral range at 51.
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.
