Fundamental analysis
The world's largest gold ETF, SPDR Gold Shares saw the first increase in gold stocks since mid-April, although the increase from 739. 64 to 739. 94 tonnes was relatively modest. Crisis protection received a tailwind primarily from the weakening dollar. After its twelve-month high of the previous week, the dollar index has now entered correction mode, although the upward trend observed since the beginning of the year has remained intact. The decline in US yields also helped the precious metal. Ten-year securities fell from 2. 55 to 2. 45 percent over the course of a week.
Technical analysis
- RSI is near strong resistance, expect strong market up movement if RSI break the resistance
- MACD baselines are near bearish crossing of baselines
- sell entry at 200 day moving average and resistance trend line
The world's largest gold ETF, SPDR Gold Shares saw the first increase in gold stocks since mid-April, although the increase from 739. 64 to 739. 94 tonnes was relatively modest. Crisis protection received a tailwind primarily from the weakening dollar. After its twelve-month high of the previous week, the dollar index has now entered correction mode, although the upward trend observed since the beginning of the year has remained intact. The decline in US yields also helped the precious metal. Ten-year securities fell from 2. 55 to 2. 45 percent over the course of a week.
Technical analysis
- RSI is near strong resistance, expect strong market up movement if RSI break the resistance
- MACD baselines are near bearish crossing of baselines
- sell entry at 200 day moving average and resistance trend line
Trade active
Trade closed: stop reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.