Gold Rose In March While Retraced By Macro Bracket High

The Private Banker
By Seb of The Private Banker
Trader •

Gold rose about 2.8% in March while the market was closing with a selling tail by selling from the swing highs and bracket high back from August 2020.

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Gold rose about 2.8% in March while the market was closing with a selling tail by selling from the swing highs and bracket high back from August 2020.

Rising inflation and the Ukraine crisis lead the safer precious metal asset class to higher prices while the possible major 50bps interest rate hike in May and tightening in monetary policy retraced the market, pointing to a possible rotation towards the macro bracket low. However, the trend is still intact which occurs for about four months.

The Quarter’s DVAL on the daily periodicity is confluent with the marked area in the macro balanced price range.

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