Gold News: Gold Market Analysis Shows 50-Day MA Critical After 65% Rally

The market has also dropped below a short-term 50% level, making $4350.27 to $4381.44 resistance. The daily chart now suggests traders are aiming for the value area created by the intermediate 50% level at $4211.60 and the 50-day moving average at $4174.88. We expect to see buyers return on a test of this area.The 50-day MA is of particular importance because it is also our main trend indicator. It has been directing the market higher since mid-August. Breaking it with conviction could shift the narrative o ...