Gold Prices Soar to Seven-Week Highs as TK Alpha Gauge Signals Bullish Outlook
The price of gold has surged in recent days, breaking key resistance levels and reaching seven-week highs. The TK Alpha Gauge, a proprietary indicator developed by Tradingkey, is signaling a bullish outlook on the metal.
According to data compiled by FXStreet, gold prices rose in India on Friday, while OCBC's Sim Moh Siong and Christopher Wong note that the metal has retained most recent gains after breaking key resistance, supported by lower oil, softer yields, central bank and ETF buying, and technical factors.
The TK Alpha Gauge is a comprehensive daily updated indicator that analyzes hundreds of proprietary price-volume, fundamental, and alternative data predictors. It provides quantitative insight into directional forecasts, with values ranging from -100 to 100.