With the second part of 2016 year, the gold market experienced a strong increase, so we can observe the price level reached to 1,360 USD level, and it was the maximum point of this year. At the last three months, we can see a positive trend on the gold market, so we can say the purchasing side is increasing in this time period.
When we come to August, the trend is continuing its positive trend, especially in the first days of month. 1,344 USD support level tried at August 10. After declaring PMI data at the beginning of September, the gold parity showed a serious increase and reached to 1,349 USD level.
What are the support and resistance levels of Gold Market?
1,358, 1,365 and 1,375 levels will be the resistance and 1,325 , 1,305 levels will be the important support levels during the September. The general expectation will be positive – horizontal in the September 2016. The general expert comments are showing that gold will be a positive investment tools during this month according to many technical and market indicators.
- Date: 15 September 2016 Thu 10:23
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