Gold prices moved higher following the dovish bent relayed by the Federal Reserve in the meeting minutes from July. With not rate hike imminent, the
Gold prices moved higher following the dovish bent relayed by the Federal Reserve in the meeting minutes from July. With not rate hike imminent, the dollar moved lower allowing gold prices to gain traction and push higher.
Gold is poised to test resistance near the 50-day moving average at $1,138. Support is seen near the recent lows at $1,109. Momentum is positive as the MACD (moving average convergence divergence) index recently generated a buy signal. The MACD is printing in the black with an upward sloping trajectory.
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.
