Gold continues to rise, grinding into $1,300.00

Risk-off markets see Gold rising to the occasion.
Gold's bull run may run out of lead time as the precious metal drives towards normal prices at key technical handles.

Joshua Gibson FXStreet

Spot gold prices are continuing their steady march upwards, rising into 1,300.00 in early Friday action.

Gold prices have lifted for three of the last four weeks, and looks set to end up for a third week in a row as risk aversion continues to see investors propping up the precious metal amidst shaky expectations for global growth figures as major economies around the world suffer from lagging expansion.

Gold is recovering into prices not seen early 2018, and the US Dollar is likely to remain under pressure as long as Gold is on the rise, but the upper end could run out of room to run as heavy, multi-year resistance sit priced in from 1,3500.

Gold Technical Levels

Gasoline

Overview:
    Today Last Price: 1.33
    Today Daily change: 0.0 pips
    Today Daily change %: 0.00%
    Today Daily Open: 1.33
Trends:
    Previous Daily SMA20: 1.4
    Previous Daily SMA50: 1.5
    Previous Daily SMA100: 1.76
    Previous Daily SMA200: 1.93
Levels:
    Previous Daily High: 1.37
    Previous Daily Low: 1.31
    Previous Weekly High: 1.34
    Previous Weekly Low: 1.28
    Previous Monthly High: 1.52
    Previous Monthly Low: 1.28
    Previous Daily Fibonacci 38.2%: 1.34
    Previous Daily Fibonacci 61.8%: 1.33
    Previous Daily Pivot Point S1: 1.3
    Previous Daily Pivot Point S2: 1.27
    Previous Daily Pivot Point S3: 1.24
    Previous Daily Pivot Point R1: 1.37
    Previous Daily Pivot Point R2: 1.4
    Previous Daily Pivot Point R3: 1.43

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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