18K Gold per gram Price Rises for Third Day, Nears 52-Week High
18K Gold per gram (IRR) closed higher on September 5, marking its third consecutive day of gains. The asset reached a new 30-day closing high of 236,744,000...
Market Summary
18K Gold per gram (IRR) closed higher on September 5, marking its third consecutive day of gains. The asset reached a new 30-day closing high of 236,744,000 IRR, trading within a daily range of 235,195,000 IRR to 238,019,000 IRR.
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Interactive price chart
Market Analysis
The price of 18K Gold per gram continues to exhibit a strong bullish trend. The latest session saw the price open at its daily low before advancing, though it pulled back slightly from the session's high to close at 236,744,000 IRR. This closing price represents the highest recorded close over the past 30 days.
The asset is currently trading above its 20-day, 50-day, and 200-day Simple Moving Averages, reinforcing the established upward trajectory. Furthermore, the current price is positioned very close to its 52-week high, with a distance of approximately 0.54%.
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Technical Highlights
Technical indicators largely support the prevailing bullish sentiment. The Average Directional Index (ADX) at 51.75 indicates a strong trend strength. Both the Supertrend and Parabolic SAR (PSAR) also confirm a bullish trend direction.
Momentum indicators suggest the asset is in an overbought region. The Relative Strength Index (RSI) stands at 87.25, while the Stochastic RSI (k) is at 97.43 and Williams %R is at -2.82, all pointing to elevated momentum. The Moving Average Convergence Divergence (MACD) shows positive momentum, with the MACD line above its signal line and a positive histogram.
The 30-day volatility for 18K Gold per gram is measured at 1.54%. The session's high of 238,019,000 IRR serves as an immediate resistance level.
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Conclusion
18K Gold per gram concluded the September 5 session with a third consecutive daily gain, reaching a new 30-day closing high and trading near its 52-week high. While the overall trend remains strongly bullish, supported by key moving averages and trend strength indicators, momentum indicators suggest the asset is in an overbought condition. The available market data alone do not indicate the underlying cause of the observed price movement.
Live rates
Track the latest 18K Gold per gram (IRR) session on Iran Market Data.