The last 3 days have been ‘nosiy’ in precious metals markets with gold swinging from the best day in 5 months to the worst day in 4 months and now to another high volume surge, breaking the barbarous relic back its 100-day moving-average…
It sems the 100DMA is a key level with heavy volume being used to push gold futures around it.
UBS asks “Is gold establishing a foundation for a rebound?”
Gold longs rebuild while shorts continue to hesitate
Gold is holding reasonably well near the highs of the range established in the past couple of months. A few macro factors have been supportive of late:
This post was published at Zero Hedge on Nov 21, 2017.