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Gold Futures Remain Above $1800 as Spot Gold Still Attempts to Breach That Key Level
Today's short-term 50-day moving average of silver crossed above its 200-day moving average, forming a golden cross.
Today's short-term 50-day moving average of silver crossed above its 200-day moving average, forming a golden cross.
The most active February 2023 contract is locked at $1805.90 as of 4:55 PM EST, taking into account a net gain of $10.80. The price of spot gold has increased by $6.00 to $1798.51. The most active March 2023 futures contract is now locked at $23.935, up 1.37% or $0.32 for silver. Today's short-term 50-day moving average of silver crossed above its 200-day moving average, forming a golden cross.
Although dollar weakening had a little role in precious metals advances today, purchasing by market players was mostly responsible. With the dollar index set at 104.025, the US dollar fell by 0.10%.
At 5:00 PM EST, spot gold was set at $1798.60, according to the Kitco Gold Index (KGX), after accounting for a net gain of $6.40. Normal trading was responsible for a gain of $5.50, while the dollar's decline was responsible for the remaining gain of $0.90.
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