Wednesday, November 8, 2017

For gold to climb it must get out of its $1265 - $1290 range

Over the past three weeks gold has remained steady in a relatively small range.  And going back to Oct. 17 when it last was above $1300, when have seen the precious metal fluctuate between $1265 and $1290.

A convincing break through the trading range resistance is likely to accelerate the up-move towards $1290 intermediate resistance ahead of the $1295 barrier. On the flip side, $1275 level now becomes an immediate support to defend, which if broken might drag the metal back towards $1269 level en-route $1265 strong horizontal support. – FX Street
Even geo-political events like what is taking place in Saudi Arabia and Venezuela have not been enough to push gold prices through a difficult resistance level.  However it appears that demand has been enough to keep support at $1265, which bodes well for any real increase in buying through the end of the year.


Oh yes it always seems that gold ranges increases day by day. It could be beneficial for one who has gold. I mean they can sale it in higher prices which they have bought in low prices.

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