Gold near $ 1800
Gold till last Thursday gold faced tough resistance at $ 1793 levels, post FOMC statement gold surpassed its resistance and traded over $1800 , it marked a high of $ 1806 levels and finally settled near $1796 on Friday. this week there are no major news economic data release and market is likely to go on a low volume of trade, Price action could waffle around when the trade volumes are lower.
Technically, Still gold is unable to surpass the major resistance of $ 1809 and RSI has entered into a overbought territory before gold could close above $ 1809 levels. Al-so to note that Trading is on a thin volume as we are starting the holiday period. Price action could trade both ways without hinting a directional moves. Near by resistance is at $ 1809 and $1835, where as support is at $1763 .
Data and Events for U.S this week
- Core PCE Price Index on 23rd Dec
Bullion mart is one of the Canada’s leading Gold and Silver Dealers, Bullion mart now provides its client in UAE with the best possible customer experience in Bullion trading. We are one of the only authorized distributor of Royal Canadian Mint products in the U.A.E. All of our stocks can be selected in our website www.bullionmart.ae. The news report mentioned here is not to be seen as an investment advice. Report is gathered from reputable online resources and chart source is Investing.com.