The technical indicators are bearish at the moment but anything can change in a blink of an eye. We had few false breakout and every body was bullish and then it went downhill ever since the US announced rate increase beginning in march. From my understanding higher interest rate strengthens the USD which is bad for gold. Historically gold was bearish in the time of increase rate hikes. The bigger technical Indicator is the death cross which is 20 cents away... whether this will causes shorters to party or not remains to be seen. However this situation happened few times in the past without disasterous outcome. Unless there is a buying demand the price will collapse. The next few days price action will be interesting to watch. All the economic indicators tells us the price should go north and bought big parcel in the recent fall however the price is being held with a delicate support. As I am typing this the price of gold is slowly raising.
why NST is overreacting relative to POG was my concern.
The technical indicators are bearish at the moment but anything...
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Last
$14.22 |
Change
-0.080(0.56%) |
Mkt cap ! $16.34B | |||
| Open | High | Low | Value | Volume |
| $14.05 | $14.37 | $14.02 | $39.60M | 2.782M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 13583 | $14.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.23 | 24299 | 2 |
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| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| NST (ASX) Chart |