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Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Touches Resistance
July 23, 2021 - (Gold Market Wire) - Much ado about not much, is theme today, as Gold continues to meander around the $1800 in a fully listless weak for the metals. The chart shows a small channel development, which gives us some idea about the parameters we are dealing with:
...and set aside this is our medium term resistance:
...which touches right on today's (intra-day) high.
Zoom of above:
And that is, more or less, that. The eyes of the market are transfixed by equities and the US Dollar. And until those move significantly, we are likely to be stuck here. The book is about as flat as it comes. The market is not rending,up or down. Brave volatility sellers can try weighing in on the $1800 strike.