Markets

Trading Forecast Gold

Gold soared to a new all-time high on Thursday due to renewed concerns over the global economy. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI turned bullish signalling that sideways to higher prices are possible near-term. If it extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.

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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