How High Can Gold Run? - Forex News by FX Leaders

How High Can Gold Run?

Posted Tuesday, August 29, 2017 by
Rowan Crosby • 1 min read

Not surprisingly gold has been tearing higher today. After the news out of Japan that a missile test from North Korea went sailing across their shores, safe-havens went into rally mode.

Gold has been rising in recent weeks and there might be more to come. Here are the next key targets that gold needs to take out.

Gold

Key Levels

Support

Resistance

1300

1338

1294

1350

1275

1365

Gold Plan

Im looking to be long as European traders enter for the day and hoping for another kick to the upside.

We have the potential for a Trump tweet which might spark us further. The key level of 1338 is the one I have my eye on. We might not get there in Asian trade, but if tensions continue to escalate I’ll be buying pullbacks as we head toward that level.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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