The gold price in on track today to rack up its 5th straight day og gains and from a technical position we can see on the chart that in each of the previous 5 sesions, gold has nanaged to break through a previous, support or resistance level.
As long a there is no sell off later in the trading session today, it is hard to see why gold can’t movu towards the next resistance level which is around $1,307 although their might be some slight resistance at the phsychlogical level of $1,300.
Yesterday’s Fed minutes meeting was good for gold as there tone of voice pretty much garanteed a rate hike in December which takes away the uncertainty of will they or won’t they and we now believe that a rate hike is already priced into gold at around these levels.
The other main uncertainty now is weather North Korea is going to launch any more missiles over the coming days qwhich should also help to support gold.
هام: يرجى العلم بأن خدماتنا متاحة للعملاء المحترفين فقط. التجارة على CFD والتي هي صكوك صعبة, مرتبطة بمخاطر الفقدان السريع للأموال بسبب الرافعة المالية. عليك ان تأخذ بعين الأعتبار خطر امكانية فقدان جميع اموال الأستثمار في حال عدم دراسة كيفية التداول بالعقود على فرق الأسعار