Gold tests $1900 for the first time since January 8

Technical Analysis

Author: Greg Michalowski | gold

Gold high reached $1899.73

the price of gold has reached just short of the $1900 level. The high price of just picked to $1899.73. The last time the price traded above the $1900 level was back on January 8.  There seems to be sellers leaning against the natural resistance level on the first look.

Gold high reached $1899.73_
The move to the upside is being supported by lower yields. The tenure yield is currently down 4.2 basis point at 1.558%. The 30 year bond is also down 4.2 basis points at 2.256%.

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