Gold Fields showing strong upside to come to R289.22

١٦ يناير ٢٠٢٣

Cup and Handle has formed on the daily and it follows with the upside in the gold price
We have the 7 > 21> 200 MA and Price> 200 which is bullish
Target R289.22.
We also have the Chinese New year with consumers buying gold as gifts, which can push up demand for the metal.
We've seen a bit of a weakness in the U.S. dollar, which you can see with the DIXIE, which can make gold more attractive to foreign investors.
Central banks and other large institutions normally add gold to their reserves at the start of the year.