: : Gold futures end higher, reach a ‘golden cross’ #FinanceUSA #StockMarketNEWS Gold futures reached a so-called “golden cross� on Friday, with the most-active contract ending above ,900 an

@stockMarketNEWS Tue 17 Jan, 2023

Posted in: #FinanceUSA #StockMarketNEWS

: Gold futures end higher, reach a ‘golden cross’ #FinanceUSA #StockMarketNEWS
Gold futures reached a so-called “golden cross� on Friday, with the most-active contract ending above ,900 an ounce for the first time since late April, according to Dow Jones Market Data. A golden cross happens when a short-term moving price average crosses above a long-term moving average, potentially indicating a change in sentiment toward the metal. The 50-day moving average for most-active gold futures rose to ,789.94 Friday, topping the 200-day moving average of ,786.74. “Gold has easily cleared the ,900 level, and hitting these big numbers helps attract investors to a trend,� said Brien Lundin, editor of Gold Newsletter. Meanwhile, a golden cross for gold “should attract more buying from technically-oriented traders,� said Lundin. Gold for February delivery GCG23 rose .90, or 1.2%, to settle at ,921.70 an ounce on Comex. Prices ended 2.8% higher for the week, according to Dow Jones Market Data.

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