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Jul. 18, 2024

Metals traders focused on CME Gold as it powers 0.66% higher

Live - Updated 10 minutes ago.

After closing the previous trading day at $2,460, CME Gold is up to $2,476 per ounce, which makes for a move of 0.66%/$16 today.

Trend and momentum analysis indicates that investors are seeking long positions as Gold price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the RSI is a momentum oscillator that measures changing price movements on a scale of 0-100. In Gold's case, the index has risen above 70, signalling that the asset is overbought. According to asset volatility analysis, Gold's upper Bollinger Band® is at $2,481, this is a slight indication of a slowdown.

Notwithstanding Gold's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

A look at other Metals also shows upside as having closed the previous session at $1,008, Platinum is up 1.21% today to currently trade at around $1,020.3. Having closed the previous session at $954.2, Palladium is up 0.4% today to currently trade at around $958.

Meanwhile, Copper draws back 0.52% to trade around $4.39.

Having soared to a high of $2,467.8 approximately 2 days ago, Gold is now trading 0.32% lower.

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Week to date

Gold ends yesterday stable around $2,476 per ounce .

Trading week at a glance - Gold is up to $2,476 per ounce, after closing yesterday at zero cents. Overall, a 0% move or $2,476 this week. (Trade Gold with FXTM now).