Gold Close Above Its 200-Day Average May Signal Decline: ChartBy
Gold this year has outperformed all its peers in the Bloomberg Commodity Index, a measure of returns on raw materials, with an 8.9 percent rally that’s seen it close above its average over the previous 200 sessions for the first time since October. This could be a sign the rally is ready to peak, according to Adam Finn, Triland Metals’ head of precious metals in London. The past three times bullion closed above the 200-day average, it sank on average by 4.6 percent in the following month.
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