Gold prices are enjoying some relief, after falling by more than 7% from the two-month high of around $1960 that it posted last week. On a week-to-date basis, spot Gold is eking out a 0.6 percent advance at the time of writing. The slight recovery has pared Gold’s year-to-date losses to less than 2%.
From a technical perspective, Bullion’s 200-day simple moving average (SMA) has been called into action once more, playing its role as a key support level. Gold bulls can take comfort from the fact that, since the end of 2018, prices have been trading consistently above its 200-SMA, and the… Read More:
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