Free Trial

Gold Extends Surge Beyond Resistance After Israel Military Expansion Headlines

  • Along with crude rising strongly for now +3% on the day, the earlier headlines that Israel is expanding its military operations in Gaza tonight have seen gold breach resistance at $1997.2 (Oct 20 high).
  • The move in spot gold as continued with a latest extension to a high of $2006.89, also clearing resistance at $2003.4 (76.4% retrace of May 4 – Oct 6 bear leg) after which lies $2022.2 (May 15 high).

Source: Bloomberg

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.