Gold is rallying, thanks to the weakening demand for dollar, which was influenced by falling Treasury yields and rising risk appetite. Many believe that this bullish momentum will drag on, but the price increase will be limited.
Technical picture:
The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is above 50% and is indicating a slowdown in growth, while the stochastic indicator is moving down from the oversold zone.
Possible dynamics:
Growth and consolidation of spot gold above 1858.85 may lead to an increase to 1885.00.
