Technical Talk: Gold supported around 50 Day Moving Average

COMEX Gold futures are witnessing a modest recovery after recent declines. The counter fell near five-week low in last session, testing 50 day moving average (DMA) in the process. This capped the downside for the metal. Currently, the 50 DMA is placed around 4966 while lower Bollinger Band is also hovering around the same mark, offering excellent downside support threshold. COMEX Gold currently trades up 0.47% at $5025 per ounce.

Powered by Commodity Insights