Gold springs higher to break the March/April double top

Technical Analysis

Author: Adam Button | gold

Gold breaks the range to the upside

Just when it looked like gold had formed a double top, it's broken out to the upside. Falling Treasury yields and the 'buy everything' mode in the markets at the moment have given a big lift to gold today. It's up $27 to $1763, which is the highest since February 25.
Gold breaks the range to the upside
It looked like a firm rejection of the March high last week but gold has regrouped on falling yields. Today the US 30-year is down 8 bps to 2.23% and touching the 50-dma for the first time this year.

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose