Spot gold is higher in Europe, in line with solid gains
in the euro. The yellow metal is back above its 200-day moving average of
$1,620/oz, a key level above which short covering is likely to have been
triggered, escalating the move higher. Analysts remain wary of turning bullish
for the short term just yet, however. According to FuturesTechs,
closely-correlated Comex gold must retake its 155-day moving average at
$1,664/oz before its technical picture looks bullish once more. Spot gold +1.0%
at $1,631.20/oz.
No comments:
Post a Comment