Gold has moved above the 100-day moving average once again. Currently trading at around $1,963 an ounce. Support at $1,960 and resistance at $1,966.

Based on the 4-hourly timeframe, Gold has climbed above the 100-day moving average once again. Currently trading at around $1,963 an ounce. We can see that it has attempted to break higher on 4 different occasions (ovals), the support sits along $1,959-$1,960. Which happens to be all 3 of the moving averages, A break and close below the averages could see the price slide lower again towards the support sitting at $1,949. Looking at the upside, resistance sits at $1,966 then at $1,970, and then the key resistance at $1,973. A break and close above $1,973 may see the price of gold climb higher with the target then of $1,983 an ounce. Indicators are slightly mixed at this moment in time, the MACD is flat-positive and the RSI neutral-positive as it reads 54.