Gold has reached a new high level. On Tuesday morning, the bullion tested the resistance of the 1,440.00 level.
It can be observed that the surge is occurring together with the 55-hour SMA below the commodity price. From a technical analysis perspective this is the only close by level. It indicates that the metal is not massively overbought, as the surge has happened somewhat gradually.
On the other hand, take into account that the surge is a run to safety caused by fundamental monetary policy of the US Federal Reserve.
