Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    89,122.10
    +430.93 (+0.49%)
     

  • CMC Crypto 200

    1,371.97
    +59.35 (+4.52%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Gold Price Prediction for June 23, 2017

David Becker
Updated

Gold prices attempted to move higher on Thursday but were unable to gain traction and eventually closed unchanged forming a doji day which reflects indecision. Resistance is seen near the 10-day moving average at 1,255. The 10-day moving average has just crossed below the 50-day moving average which shows that a short-term downtrend is now in place. Prices are hovering just above support seen near an upward sloping trend line that comes in near 1,240. A break of this level would likely lead to a quick test of the May lows at 1,215.

Momentum Remains Negative

Momentum is negative as the MACD (moving average convergence divergence) histogram prints in the red with a downward sloping trajectory which points to lower prices for the yellow metal. The RSI (relative strength index) has stabilized reflecting neutral momentum.

This article was originally posted on FX Empire

More From FXEMPIRE: