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Gold Price – 1300 is a Big Spot

Gold Price – 1300 is a Big Spot

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Gold has been tricky (for me at least) of late. I was expecting downside resumption from near 1277 (20 day average, a parallel from the July low, and the 10/5 high.” Instead, gold opened November with the best 1 day rally since 9/6 (which was a top incidentally). The next logical decision point for the metal looks like 1300, which is defined by the 55 day average, May high, and September low.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.