(Bloomberg) -- Gold’s rally since the start of the year, which returned as much as 19% at its peak, may be petering out now, technical charts show. Any setback should be viewed as a correction, but could see the precious metal slide initially toward its 21-day moving-average price at $1,185 an ounce, Bloomberg Technical Analyst Sejul Gokal writes.
The so-called moving-average convergence-divergence, known as MACD, is poised to cross lower this week for the first time since early December, when gold spot price traded around $1,062. The metal is now trading near $1,227.
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