200 hour moving average at $1988.67
The price of gold has continued its moved to the upside. It is currently trading up $42.57 or 2.19% at $1987.85. The high price reached $1989.11.
The move to the upside has pushed the price just above the 200 hour moving average (green line) at $1988.67. Last Tuesday the price fell below that moving average and continued to fall all the way down to the Wednesday low of $1863.15.
A move above the 200 hour moving average will have traders once again looking toward the $2000 level. The price first moved above the $2000 level on August 4 – running up to the all-time high price of $2075.47 on August 7.
Gold is up nicely, but silver is up even more. Spot silver is currently up $0.97 or 3.68% to $27.42. It's high price reached $27.51 today.
Looking at its hourly chart below, it has moved above its 200 hour moving average at $27.17.
