Gold Flash Explodes to $US2143

Blog Categories , Insights

6 December, 2023
As at 9am, AEST.

Spot pricing for Gold $AU3085

Spot pricing for Silver $AU36.97

Spot pricing for Platinum $AU1389

Like a bomb, Gold exploded more than $US100 within a 12 hour period taking the precious metal to new all time highs while throwing a big question mark in front of how things will end for 2023.

As Gold now consolidates from its scorching run (as we show in charts today), the US500 looks perilously close to having the floor fall out from underneath it. It’s 200MDA looks scarily far away, its RSI is looking overcooked and pricing in general looks to be signalling a downwards trend.

Oil, has been strangely absent in recent weeks, still deciding if to react to any OPEC decisions to restrict flow and affect pricing to drive growth. As Oil waits quietly in the corner, it could well be the decider that adds a painful weight to a weakening US500.

If you managed to catch the eye-bulging Gold run Monday, you could be hard-pressed to witness another one in your life. It was truly staggering.

Enjoy today’s charts.

Gold daily, with 200MDA