the daily chartist

GOLD XAU/USD recap for 29.09; 30.09; 01.10.2015

published 4 years ago
Gold Daily

Gold made some serious drops in the recent days, dropping from the resistance zone at 1155.081 down back to the support buy zone at 1108.926. We are starting to see a more a trend movement up than a correction movement. Still on the bigger charts, the price still looks as a correction, but remember that on the daily chart, the euro also looked like a correction at first, but it still "above water". Bullion will continue to gain ground as the USD glut drops and money are priced-in in the safe havens from the remaining uncertainty around the FED's hike and for the slowdown in the global economy.