Many of you consider this rally on gold to be abnormal and irrational. but, history shows us the opposite picture. the rally that we are contemplating today is the perfect reflexion of the movement that we saw in 2011. just pay attention to details and embrace how similar it is. from weekly timeframe analysis we can derive a couple of crucial clues: 1. poten
Gold hits record high in EUR terms, surges 10% on a year-to-date basis.
Daily chart RSI has violated the bearish divergence.
A combination of gold price rally in the US dollar terms and a sell-off in EUR/USD has pushed the yellow metal to record highs in the single currency terms.
XAU/EUR or gol
Open interest in Gold futures markets went up by nearly 28.4K contracts on Tuesday, reaching the third consecutive build according to flash data from CME Group. In the same line, volume rose by nearly 188.7K contracts, reaching the largest single day build so far this year.
Gold now looks to YTD highs
The ounce troy of the precious metal regained the key $1,
Gold prices smashed the estimated target at 1592.00 against the U.S. dollar after a breakthrough at 1575.90 price barrier. Gold prices have taken out three resistance level at 1582.00, 1586.60, and the target price at 1592.00 since my last update and now testing 1600.00 support as I compile this pos