Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Goes on Set-Up
November 21, 2023 - (Gold Market Wire) - The indicators are converging for Gold and, honestly, they look very bullish. Our trend line continues to signal the decent buying point - as it just has; the chart formation is that of a classic pullback to move higher; and the 50/100-day moving average cross is about to cross. Added to all that, the horizontal support (in green) is intact.
There is little to not like about the market right now. When we add the increasingly deteriorating international situation, and recent US dollar weakness, this market is in a good place to move higher.
The market doesn't often give set ups like the one we've got. Strength and length. It's the only way.