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Unchanged For The Week, But Technicals Still Appear Positive

GOLD

Gold has been range bound so far today, currently close to $1793.5, slightly higher for the session. This comes after yesterday's -1.2% drop. At this stage, gold is tracking close to unchanged for the past week.

  • Better US data, coupled with a rebound in yields, has crimped the precious metals move above $1800, at least for now. Recent highs remain capped just above $1820.
  • On the downside, the 20-day EMA at $1784.74 looks to be a support point and is trending higher, which is a positive from a technical standpoint. The simple 200-day is also near by at $1783.8.

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