Commodity: Gold #2 – Update from last post (30 Jul 2017)

As mentioned on 30 Jul 2017, gold is bullish on the immediate term basis the below 5 points:

  1. TA continue to point towards bullishness of gold; on track to retest recent high of 1,300 range
  2. USD continue to slide against major currencies (relationship between USD & Gold are inverse)
  3. Tension continued to rise around the world
  4. Interest rates continued to be stable
  5. For gold to break above 1.3k, big event has to happen (TA chart is supporting this with triple bottom)

read more on the earlier post > https://www.investwhizz.com/2017/07/30/commodity-gold/

 

As of COB 1 Sep, the gold spot price is now at around 1325 (vs 1268 on 30 Jul). That is a large 4.4% gain in a month!

As on date, the above 5 points are still intact and below is the updated analysis on gold’s TA.

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