On Friday, the price of gold rose, helped by a general weakening of greenbacks that are usually positive for the yellow metal, since it reduces the cost to the holders of foreign currency. It should be noted that the impact on the quotes had a historic moment in the life of the UK - Brekzit.
At the auction on Friday, gold price grew more on the weakening of the US dollar. The price set a new local maximum at the level of 1341. Resistance is located at 1360 and 1330 in the area of support.
The MACD is in the positive zone. Histogram growing gives a buy signal. RSI Oscillator is near the overbought area. If the signal line will go into this area, the prices continue to rise. If the oscillator fall, we get a sell signal. Price is located above the moving averages (50, 100, and 200), which move in an upward direction.
The forecast rate of gold today
in 1330 and 1300 can be expected to reduce the price to potential targets.
Source Fort Financial Services