Gold jumps above $1,921.98 resistance
Gold had rebounded to as high as $1,920.60 so far today. That means it has not yet managed to trade back above its 200 day moving average, below which it closed again last night. That 200 day moving average was noted here earlier today and remains in place at $1,921.98. The price action over the past few hours had seen gold range between that noted high and a low point at 1,916.10. Well, now it has spiked to exactly $1,923 in a move that was quite sudden and seemed be sparked from a kick lower in the USD/JPY. Gold has just backed off from that high and currently trading at 1,922.10
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