SPOT GOLD stands on front foot on Tuesday despite firmer dollar
Spot Gold remains constructive on Tuesday and retested last Friday’s recovery high at $1338, signaling extension of recovery leg from $1324 (low of $1344/$1324 correction).
The yellow metal maintains positive tone despite the greenback fresh strength on deal of US lawmakers to end crisis on government shutdown.
Daily techs remain in full bullish setup and favor further advance for regain of $1344 pivot, break of which would signal continuation of broader uptrend.
Rising 10SMA contained recent correction and continues to track the rally, offering initial support at $1331 which guards key near-term support at $1324.
Res: 1338; 1344; 1350; 1357
Sup: 1331; 1326; 1324; 1319