North Korea tensions Gold price impact

Trading Gold? This North Korea tensions Gold price impact analysis from ADS Securities’ team of market analysts will aid you in your trading today.

31 July, ADS Securities – Following four straight bearish sessions, the precious metal surged in the prior session, as the US Dollar plummeted near its 13-month low, following a weak US economic data.

North Korea tensions Gold price impact

As visible on the 1H chart, the yellow metal is trading with a downside bias, indicating the presence of negative momentum in the coming session. In addition, a signal line crossover by the MACD indicator from above, further validates the above stance.

Key technical support is positioned at the $1263 level where EMA 55 is trading, followed by the $1260 and $1257 levels. A move back below the latter might lead to downside momentum in the yellow metal. On the flipside, the key technical barrier is situated at the $1271 level, followed by the $1273 and $1278 levels. A surge above the latter might trigger further bullishness in the Gold.

North Korea tensions Gold price impact

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