Friday 2 August 2019

Channels

 The JSE Gold Mining index, J150, has been guided by a channel and bounced from the lower boundary yesterday..


From the above it is no surprise to see that the gold price in US Dollars, XAU/USD, has also been within a channel and also bounced from the lower boundary yesterday..


The US Dollar index, DXY also has a channel and topped out yesterday. Any weakness of DXY is typically of benefit to the gold price.


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