Gold Prices Attempting to Bottom: Key Resistance Break Needed for Bullish Outlook 2021-04-06 13:15:00 Justin McQueen, Analyst
Gold Forming a Double Bottom?
US Real Yields Are Still the Best Guide for Gold Direction
Key Resistance Break Needed to Alter Gold’s Outlook
Gold Forming a Double Bottom?
Perhaps the first bit of encouraging price action in gold in a while, with the precious metal spending little time below $1700 and forming a double bottom at $1670. Although, as I have said on prior occasions, the technical outlook for gold remains somewhat uninspiring until a close above $1760-65 is made. That said, with US yields refraining from pushing higher in recent sessions this has provided gold with some reprieve, but given that US economic data has been printing strong readings, upside risks do remain for US yields.