Gold Momentum Indicator Signals Rally Could Falter: ChartBy
After its best first half in four decades, the gold rally is slowing amid signs the U.S. economy may be resilient enough to withstand an interest-rate increase by the end of this year. Spot gold’s moving average convergence-divergence indicator, a gauge of price momentum, has been below the signal line since Aug. 5, showing downward pressure on prices, according to Gary Christie, a senior technical analyst at Trading Central in Ottawa. Prices have fallen more than 2 percent from a two-year high in July.
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