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Gold above 100-week moving average
By this point in 2016, gold had risen by over 10%. This year is not quite as bullish, but the price is still 7% higher, and is back above the 100-week moving average ($1202).
Friday’s dip was furiously bought, pushing the price to highs not seen since early November 2016; it may now be due another pullback, but so long as $1210 holds, it will simply be a dip in the trend. Above $1234 the price will head towards $1248 and then the 200-day simple moving average at $1263.
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