Technical analysis: Gold price advances past $2,450
Gold’s uptrend extended on Monday, with prices approaching the $2,470 figure ahead of the all-time high (ATH) of $2,483, which could be tested if inflation comes lower than foreseen. Momentum favors buyers, as reflected by the Relative Strength Index (RSI), which is above the neutral line aiming higher.
The buyer's first resistance would be the ATH. Once cleared, the next challenge would be to clear the psychological figure of $2,500. Further gains are seen above that level, with $2,550 being next, followed by $2,600.
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