12 Aug 2019
Gold technical analysis: Yellow metal clings to 6-year highs above $1,500.00/oz
- The risk-aversion mood keeps gold near 6-year highs.
- The level to beat for buyers is 1,510.16, the 2019 high.
Gold daily chart
Gold is hovering near 6-year highs as the risk-off mood keep the demand for the safe-haven metal high.
Gold 4-hour chart
The yellow metal bulls will need to break above $1,510.16 a troy ounce, the current 2019 high, to continue the march north towards 1,530.00 and 1,555.00 resistances. Gold is trading above its primary simple moving averages, suggesting bullish momentum in the medium term. Supports are seen at the 1,477.00 and the 1,454.00 levels.
Additional key levels