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
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