Markets

Trading Forecast Gold

Gold closed higher due to short covering on Wednesday as it consolidates some of Monday's decline. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. Closes below this year's uptrend line crossing would confirm a top and trend change has taken place. If it renews the rally off May's low, May's high crossing is the next upside target.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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