Gold Pushing For Another Breakout?

2022年8月9日

The gold market has been in a down trend since the highs we saw in in early March as the dollar has been melting to the upside. As the dollar has started to trend down, we have seen a nice bump in the Gold market, and we passed through some strong trendline resistance. Gold is testing the 50-day moving average, and if we can see the market push through this level and hold, we could see significant gains near the 1850 level for the December contract. The downside possibility would be significant gains in the dollar as it looks to back-test trendline resistance, and a push through there would hurt Gold.