4/5/2016. Gold was looking vulnerable but managed to hold above its 50 day moving average for the third day in a row today. Following consecutive down days, gold gained ground as equities floundered and turned further south. Japan’s Nikkei hit a two month low which spurred physical demand in the broader Asian region. While China exhibited an appetite for gold overnight, it is still worth noting that Indian demand is disappointing with data showing that February imports fell by a third in comparison to February of last year. Silver faked traders out on Friday by dipping below its 100 day moving average only to rally above it into the close. The 100 day moving average is now support while its 50 DMA at $15.20, also the high of today, is near term resistance.