Gold rallies towards key swing high
Gold received a welcome boost after Federal Reserve (Fed) Chair Jerome Powell’s dovish comments sent the dollar sharply lower.
The subsequent rally has taken us back into the region of the previous tops. A break through $1230 would certainly provide a bullish signal pointing towards a resumption of the wider uptrend. As such, watch out for how gold reacts to this resistance zone as a key determinant of where we go from here.