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...
Read More

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...
Read More

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...
Read More

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...
Read More

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...
Read More

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...
Read More

Can Gold Price Gain Upside Momentum?

Key Highlights Gold price started an upside move after forming a support above $1,300 against the US Dollar. There is a key bullish trend line forming with support at $1,320 on the 4-hours chart of XAU/USD. The US Retail Sales figure for Feb 2018 posted a decline of 0.1%, compared with the forecast of a 0.3% rise. The US Jobless Claims for the week ending March 10...
Read More

Gold Price To Remain in Downtrend Below $1,335

Key Highlights Gold price declined recently and traded below the $1,335 support against the US Dollar. There was a break below a major bullish trend line with support at $1,330 on the 4-hours chart of XAU/USD. The US Gross Domestic Product Annualized reading came in at 2.5% in Q4 2017. The ISM Manufacturing Index for Feb 2018 will be released today, which is forec...
Read More

Gold Price Back in Bullish Zone Post US CPI

Key Highlights Gold price traded higher recently and succeeded in breaking the $1,335 resistance against the US Dollar. A crucial bearish trend line with resistance at $1,330 was breached on the 4-hours chart of XAU/USD. The US Consumer Price Index increased 0.5% in Jan 2018, more than the forecast of 0.3% (MoM). The US Retail Sales declined 0.3% in Jan 2018, comp...
Read More

Gold Price Forming Short-term Top?

Key Highlights Gold price is in a monster uptrend and it recently traded above the $1,360 level against the US Dollar. It seems like a short-term correction is underway with a break of a bullish trend line with support at $1,350 on the daily chart of XAU/USD. The US ADP Employment Change in January 2018 was 234K, more than the forecast of 185K. The Fed interest ra...
Read More

12