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Aug 29 - 03:55 AM

Gold - May Soon Reach Next Big Target For Where It May Reverse

By Jeremy Boulton  —  Aug 29 - 02:35 AM
  • Gold brushed $2532 record high Wednesday reaching $2529/oz

  • Thursday range $2404-2521/oz

  • Next big target is $2554 and peak 20-day Bollinger bands $2560

  • Chance of a reverse if target achieved to alleviate overbought conditions

  • Number of bets on gold rising is a growing problem [nL1N3KE08K

  • ]

Source:
Refinitiv IFR Research/Market Commentary

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