200 day MA at $1260.44. The high reached $1261.08 today
Gold rallied on lower yields in the US, a lower dollar, lower stocks and concerns about Trump. At the peak the price reached $1261.08. That was just $0.64 from the 200 day MA at $1260.44. Back at the end of February, the price also peaked above the 200 day MA and fell back lower. Traders don’t like to get burned twice on little breaks.