100 hour MA on Gold is up at $1567.14
The price of gold is trading up about $9.50 on the day at $1565.50 currently. The high for the day reached $1568.31. That high peaked above the 100 hour MA (blue line currently at $1567.14). Close enough. Sellers have leaned against the level.
The price of gold has risen despite a stronger USD and risk on flows. Helping is that interest rates have declined. So there is a bit of disconnect in the markets.
What we do know is that the 100 hour MA is stalling the rally so far. Key level.
