Gold prices soared on Thursday running into trend line support at $1,152. Support on gold prices are seen near the 10-day moving average at $1,118.
Gold prices soared on Thursday running into trend line support at $1,152. Support on gold prices are seen near the 10-day moving average at $1,118. Momentum remain positive with the MACD (moving average convergence divergence) index printing in the black with an upward sloping trajectory.
Prices were buoyed despite mixed economic data which reduced yields and weighed on the U.S. dollar. U.S. existing home sales rose by 2.0% m/m which brought the level to 5.590.This set a high all the way back to Feb ’07’s.Single family sales were up 2.7% while condo/coops sales were down 3.1%.The median sales price rose to $236,000 from $234,300 up 5.6% y/y.
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.
