Gold is back above $2200 per ounce today and is about $17 from the historic highs set on March 20. Nevertheless, if the price closed at the current price of $2205, it would be the highest close ever. At the same time, it should be remembered that trading this week, month and quarter only lasts until 10 pm, and tomorrow the gold market is closed due to a day off in the US market (and most other markets around the world).
On the technical side, the descent from near historic highs suggests the possibility of a double top, with a neckline near $2160-2162 per ounce and a potential target near $2100 per ounce, where the 50-period average is located. Interestingly, today is a day of a strong dollar, but at the same time a slight decline in bond yields, although overall volatility in the debt market is very tight.
Source: xStation5
Daily summary: Indices and crypto decline amid rising oil prices 🚩 Gold and the US dollar move higher
Oil surges 11% amid escalating Middle-East conflict 📈VIX gains driven by fear on Wall Street
BREAKING: Iran signals Europe will be 'a legitimate target' if EU joins war
Wall Street tries to stop the deeper decline 🗽Marvell Technology jumps 10%
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
