Small pull back with strong rebound.
Hi Gold Traders here is the update chart analysis for gold U.S Dollar
Gold prices hit its highest after the three-week low as concerns over slowing economic growth and US Fed’s dovish stance boost the yellow metal.
Gold is currently priced at 1316.50 and is expected to move upward.
In a technical point of view, the spot price dropped by 0.60%. Gold failed to maintain $1320 level and the current price is moving above the 20 day exponential moving average. Within the last eight hours trading session, the price for the yellow metal has experienced small pullback which is suggests a strong rebound.
Gold prices hit its highest after the three-week low as concerns over slowing economic growth and US Fed’s dovish stance boost the yellow metal.
Gold is currently priced at 1316.50 and is expected to move upward.
In a technical point of view, the spot price dropped by 0.60%. Gold failed to maintain $1320 level and the current price is moving above the 20 day exponential moving average. Within the last eight hours trading session, the price for the yellow metal has experienced small pullback which is suggests a strong rebound.
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