- Risk-off mood sends gold near multi-month highs.
- The level to beat for bulls is 1,452.71, the 2019 high.
Gold daily chart
Gold spiked near multi-month highs as US President Trump announced a new round of tariffs on China. The news triggered the risk-off mood with gold going up and the US Dollar going in the opposite direction.
Gold 4-hour chart
The yellow metal bulls will need to break above 1,452.71, the 2019 high, in order to travel north towards 1,476.00 resistance. Gold is trading above its main simple moving averages suggesting bullish momentum in the medium term.
Gold 30-minute chart
Bulls should ideally keep the price above 1,440.00 in order to reach new 2019 highs. On the flip side if the 1,440.00 support gets breached, the market could decline towards 1,430.00, 1,420.00 and the 1,414.00 level.
Additional key levels
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