• Along with crude rising strongly for now +3% on the day, the earlier headlines that Israel is expanding its military operations in Gaza tonight have seen gold breach resistance at $1997.2 (Oct 20 high).
  • The move in spot gold as continued with a latest extension to a high of $2006.89, also clearing resistance at $2003.4 (76.4% retrace of May 4 – Oct 6 bear leg) after which lies $2022.2 (May 15 high).

Source: Bloomberg

GOLD: Gold Extends Surge Beyond Resistance After Israel Military Expansion Headlines

Last updated at:Oct-27 18:19By: Chris Harrison
  • Along with crude rising strongly for now +3% on the day, the earlier headlines that Israel is expanding its military operations in Gaza tonight have seen gold breach resistance at $1997.2 (Oct 20 high).
  • The move in spot gold as continued with a latest extension to a high of $2006.89, also clearing resistance at $2003.4 (76.4% retrace of May 4 – Oct 6 bear leg) after which lies $2022.2 (May 15 high).

Source: Bloomberg

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