Market technicians use a multitude of moving averages in terms of’ the time cycles. These can vary from extremely short averages of three, seven or 10 minutes in length.

Considering the recent rally in gold pricing which in essentially began in the middle of November when pricing was about $1200 per ounce, and its recent surge to $1300.

Most major markets are closed today in honor of Martin Luther King Jr. day here in the United States. Both the bond markets as well as U.S stocks are closed today as they observe the holiday.