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Key Levels for Gold Traders

Gold has been in a decline over the last few weeks, which has been great for our forex signals. As the USD has been rising, Gold has been falling and it’s been playing to the technical levels quite nicely.

There is a key support level at 1265 that is going to be very important in the coming weeks. If the FOMC hike rates in December then there’s a strong chance that we’ll break that level. As such I would have a short bias up until that point. The only chance to that plan would be any geopolitical tensions that could spike us higher.

For now, these are the key support and resistance levels.

 

Key Support and Resistance Levels

Support

Resistance

1268

1283

1265

1290

1260

1300

 
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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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