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Recovery From Sep Lows Extends

GOLD

Gold leans on some USD weakness as the broader BBDXY probes yesterday’s session low, pushing bullion to the highest level seen in a couple of weeks, above $1,940/oz.

  • Technically, spot gold has recovered from last week’s $1,901.1/oz low, which now provides initial support. The recent breach of the 50-day EMA does highlight a possible developing bullish threat. Key resistance is at $1,953.0/oz, the Sep 1 high where a break is required to confirm a bullish theme.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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