Gold today

Gold priced in USD remains in a downtrend.
It’s currently trading at US$1,721

USD Gold would register a weekly oversold reading somewhere between $1,675 – $1,642, which is approximately a further 3% lower today than the current price.

However, my trend analysis for Gold priced in EUR and AUD shows then developing into a new but early ‘daily’ upward trend.

It is early but work watching, as today, Aussie listed gold producers had a positive trading day. Head fakes do occur and there are gaps to be filled in these stocks, so it remains poised but interesting.

September 9, 2022
by Rob Zdravevski
rob@karriasset.com.au

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