Gold Price Daily Chart Signaling Bearish Continuation

Key Highlights Gold price topped near the $1,346 level in Feb 2019 and later corrected lower.There is a crucial declining channel formed with resistance at $1,292 on the daily chart of XAU/USD.China’s GDP grew 6.4% in Q1 2019 (YoY), more than the 6.3% forecast.The US Retail Sales in March 2019 could increase 0.9% (MoM), better than the last -0.2%. Gold Price Technical ...
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Can Gold Price Continue Higher Heading Into FOMC Minutes?

Key Highlights Gold price started a solid rebound after trading as low as $1,280.80 against the US Dollar.There was a break above a crucial declining channel with resistance at $1,292 on the 4-hours chart of XAU/USD.The US NFIB Business Optimism Index increased from 101.7 to 101.8 in March 2018.The US Consumer Price Index in March 2019 could increase 0.3% (MoM), less than t...
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Gold Price Uptrend Facing Many Hurdles

Key Highlights Gold price started a solid upward move from the $1,282 support against the US Dollar. There is a significant ascending channel formed with support at $1,308 on the 4-hours chart of XAU/USD. The US Trade Balance in Jan 2019 posted a deficit of $-51.1B, better than the $-57.0B forecast. The US Gross Domestic Product in Q4 2018 is likely to grow 2.4%, ...
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Gold Price Could Continue To Rise Near Term

Key Highlights Gold price found support near $1,292 recently and climbed above $1,300 against the US Dollar. There was a break above a key bearish trend line with resistance at $1,305 on the 4-hours chart of XAU/USD. The US Factory Orders increased 0.1% in Jan 2019 (MoM), less than the +0.3% forecast. The Fed Interest Rate Decision is scheduled later today (foreca...
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Gold Price In Significant Uptrend Above $1,300

Key Highlights Gold price rallied and broke the $1,300 resistance before correcting lower against the US Dollar. There is a short term bearish trend line formed with resistance at $1,318 on the 4-hours chart of XAU/USD. The US Services PMI in Jan 2019 declined from 54.4 to 54.2. The US Trade Balance for Nov 2018 will be released today, which could post a deficit o...
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Gold Price Approaching Key Resistance Near $1,210

Key Highlights Gold price recovered sharply and moved back above the $1,200 support against the US Dollar. There was a break above a bearish trend line with resistance at $1,197 on the 4-hours chart of XAU/USD. The UK Construction PMI in Sep 2018 declined from 52.9 to 52.1. The US ADP Employment figure for Sep 2018 will be released today, which is likely to increa...
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Can Gold Price Break This Crucial Resistance?

Key Highlights Gold price corrected higher, but it faced a strong resistance near the $1,216 zone against the US Dollar. There is a significant bearish trend line formed with resistance near $1,212-1,215 on the 4-hours chart of XAU/USD. China’s CPI in July increased 0.3% (MoM), more than the forecast of +0.2%. The US Producer Price Index for July 2018 will be re...
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Gold Price Remains in Downtrend Below $1,240

Key Highlights Gold price declined heavily and traded towards $1,210 before correcting higher against the US Dollar. There was a break above a major bearish trend line with resistance near $1,228 on the 4-hours chart of XAU/USD. The US New Home Sales in June 2018 decreased 5.3% (MoM), more than the forecast of -2.8%. Today in the US, the Initial Jobless Claims wil...
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Gold Price Facing Crucial Resistance Ahead of US GDP

Key Highlights Gold price formed a solid support around $1,285 and recovered against the US Dollar. There is a major bearish trend line formed with current resistance at $1,306 on the 4-hours chart of XAU/USD. The US S&P/Case-Shiller Home Price Indices rose 6.8% in March 2018 (YoY), more than the forecast of +6.4%. Today, the US GDP for Q1 2018 (Prelim) will b...
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Gold Price Back in Bullish Zone above $1,340

Key Highlights Gold price made a nice upside move and traded above the $1,330 and $1,340 resistances against the US Dollar. There was a break above a crucial contracting triangle with resistance at $1,318 on the 4-hours chart of XAU/USD. The Chicago Fed National Activity Index (CFNAI) posted a rise from 0.02 (revised) to 0.88 in Feb 2018. Today, the S&P/Case-S...
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