Free Trial

Rises As Greenback Softens

GOLD

Gold crept higher in Asia on Wednesday as the greenback softened, but is below the previous day's high after retreating from intraday best levels in the US session. Near-term attention is on the 50-day EMA at $1777.0 and $1787.4,Sep 22 high and a key resistance. A resumption of strength would reinforce the bullish engulfing candle that signalled a reversal on Sep 30 and a break of $1787.4 would suggest scope for further upside.

To read the full story

Close

Why MNI

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.