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Oct 30 - 04:55 AM

Gold - Leaps To A Record High And Room To Rise Further

By Jeremy Boulton  —  Oct 30 - 03:30 AM
  • Gold leaps to a record high at $2789.73/oz

  • The top of 20-Bollinger bands at $2795.93 allows for further rise

  • Pullback's from overbought situations have been regular but modest in 2024

  • Dips following moves to or above Bollingers decreasing recently

  • Bets on gold rising yet to lead to reversal - record bullish bet may evolve

  • Potential targets for continuation bull trend: $2871, $2954, $3037, $3155

  • Weight of longs may prove more telling if $3000/oz target met

Source:
Refinitiv IFR Research/Market Commentary

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