As mentioned on 30 Jul 2017, gold is bullish on the immediate term basis the below 5 points:
- TA continue to point towards bullishness of gold; on track to retest recent high of 1,300 range
- USD continue to slide against major currencies (relationship between USD & Gold are inverse)
- Tension continued to rise around the world
- Interest rates continued to be stable
- 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.