The Trend in the commodity from the time of global tension has been positive. Gold is a Inflation hedge commodity, Gold was consoling between 1917 to 1955 levels, recently a breakout is seen from the range trading.

Gold has to close above the resistance level for regaining strength in the upward trend. The trend is positive. The commodity is trading above the Fast and Slow EMA which indicates a positive trend. Both the EMA is upward sloping which is again a positive sign for upward move.

The RSI needs to close above 64 levels to support the upward move in the commodity.

Advice : Buy Gold if it closes above the Resistance Zone.

GOLD

Apr 16 2022