Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold: Consolidation or Top-Out?
July 17, 2023 - (Gold Market Wire) - Gold is pausing for breath, right where it should, on the horizontal line, as we await the next move.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/64b4f3b5cede76b2c289ed0d_Screenshot%202023-07-17%20at%2009.42.56.png)
The up - trend is getting established, but horizontal resistance is in the way. We also need to reclaim the 100-day moving average, and stay there. Yes, the "inside" death-cross is shaping up, so we will need to be on guard, especially against a US dollar that starts to fight back against its recent pummelling. A move higher gains urgency in this posture.
Still, as we zoom out to the weekly chart, we can see, that we are firmly in the trend.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/64b4f7e06e87bc294cb20af3_Screenshot%202023-07-17%20at%2010.10.04.png)
It's already shaping up to be an interesting week.