Gold moved higher gaining $7.72 to finish at $932.62/oz despite a rebound in the US dollar which usually means downward pressure for the precious metal. The move was possibly driven by a return to risk appetite encouraged by a stronger than forecasted US durable goods report. Some extra support may have come from tensions with North Korea which prompted flight to quality and also continued worries about reserve currency status of the US currency.
The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.
Support: $921.65 (yesterday's low)
Resistance: $958.20 (high of 12/06/09)
Support: $912.70 (low of 23/06/09)
Resistance: $943.15 (high of 17/06/09)
Support: $904.65 (low of 08/05/09)
Resistance: $941.30 (yesterday's high)
9 day moving average - $931.81
14 day moving average - $938.85
40 day moving average - $938.23
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11 years ago
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