Gold Price Prediction – Prices Consolidate Following Unresolved Election Results

Gold Price Prediction – Prices Consolidate Following Unresolved Election Results

Gold prices edged lower as the dollar rebounded slightly in the wake of the US Presidential election. Gold had been viewed as a riskier asset when stocks were rising and falling before the election but have but there was no follow-through on the rally that had ensued over the past 3-trading session. The dollar moved slightly higher while yields tumbled, following softer than expected US payroll data.

Trade gold with FXTM Technical analysis

Gold prices moved lower and appear to be trading sideways. Resistance is seen near the 50-day moving average at 1,913. Support on the yellow metal is seen near the 10-day moving average at 1,894. Short-term momentum is positive as the fast stochastic generated a crossover buy signal. The current reading on the fast stochastic is 56, up from 48 which reflects accelerating positive momentum. Medium-term momentum has turned positive as the MACD (moving average convergence divergence) index […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet