On Thursday, gold received support in the form of US labor market data. In addition to the latest statistics from the US, the metal is supported by two factors: the Federal Reserve meeting on interest rates next week and a referendum in the UK.
Gold current situation
Thursday precious metal quotations have risen beyond the level of 1260. Buyers in this day we persevered and raised prices to the level of 1270.08. Located above the resistance level of 1280, while support for the pair serves mark 1260
Histogram MACD is in the positive zone, the signal line in the histogram. The indicator rose yesterday and gives a signal to buy. RSI is in the overbought zone. The price of moving averages (50,100,200), on the daily chart moving average 200 acts as a support.
Forecast Gold Today
Gold close to the strong resistance of 1280, last month, the price has fallen from this level. Precious metals may be reduced to 1260, growth may continue from there. Further gold will depend on the dynamics of the US Federal Reserve meeting next week.
Source Fort Financial Services