Gold price is gathering strength to extend the previous upswing above $2,400 in Asian trading on Tuesday.
Gold price consolidates the rebound below $2,400 amid risk-aversion. Dollar gains on strong US Retail Sales data despite easing Middle East tensions. Bullish potential for Gold price still intact on favorable four-hour technical setup. Gold priceis gathering strength to extend the previous upswing above $2,400 in Asian trading on Tuesday.
Gold price technical analysis: Four-hour chart As observed on the four-hour chart, Gold price is holding comfortably above the 21-Simple Moving Average at $2,363, having reclaimed that barrier in Monday’s North American trading. The Relative Strength Index is pointing north while above the 50 level, currently near 61.0, justifying the latest move higher.
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