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10 Proven Strategies to Improve Your Lead Conversion RateGold is trading at nearly $1950 an ounce, having surged since the end of July after hitting $1810 just under two weeks ago on the 6th.
The war in the Middle East sparked gold’s momentum, forming a gap at the open on Monday, 9 October. It is continuing now but has already been priced in and is unlikely to be a major driver in the coming days. There is no strong capital outflow from equity or bond markets, so there is no basis for gold buying.
Gold also resists the renewed pullback in the dollar, which has recovered more than half of its losses from its early October peak. The upshot is that gold is now rising against the tide. It is likely to run out of steam sooner rather than later. In the smaller daily timeframes on Wednesday, gold consolidated above the 200-day moving average, fuelling impulsive buying and short covering, taking the price above $1960 at one point.
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