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 Climbs To New 10-Month High

Key Highlights Gold price rallied recently and traded to a new 10-month high above $1,340 against the US Dollar. There was a break above a bullish flag with resistance at $1,311 on the 4-hours chart of XAU/USD. The UK Claimant Change Changed 14.2K in Jan 2019, more than the 12.3K forecast. The FOMC Meeting Minutes will be released, which could impact gold movement...
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Gold Price Preparing For Next Crucial Break

Key Highlights Gold price tested the $1,300 support area and later started consolidation against the US Dollar. There is a breakout pattern formed with resistance at $1,314 on the 4-hours chart of XAU/USD. The US CPI posted no change in Jan 2019 (MoM), whereas the market was looking for a 0.1% rise. The US Retail Sales for Dec 2018 will be released today, which co...
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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 In Significant Uptrend, Fed Rate Decision Next

Key Highlights Gold price climbed higher recently and broke the $1,240 resistance against the US Dollar. There was a break above a major bearish trend line with resistance at $1,242 on the 4-hours chart of XAU/USD. The US Housing Starts in Nov 2018 increased from the last revised reading of 1.217M to 1.256M (MoM). Today, the Fed Interest Rate Decision will be anno...
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Gold Price Gaining Momentum Above $1,200, US GDP Next

Key Highlights Gold price climbed higher recently and broke the $1,200 and $1,205 resistances against the US Dollar. There was a break above a major bearish trend line with resistance near $1,198 on the 4-hours chart of XAU/USD. The US Wholesale Inventories in July 2018 (Preliminary) increased 0.7%, more than the +0.1% forecast. The US Gross Domestic Product for Q...
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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 Facing Major Resistance Near $1,265

Key Highlights Gold price corrected higher, but it failed to break the $1,265 resistance against the US Dollar. There is a key bearish trend line formed with resistance near $1,264 on the 4-hours chart of XAU/USD. The US PPI in June 2018 increased 0.3% (MoM), more than the forecast of +0.2%. Today in the US, the CPI figure for June 2018 will be released, which is ...
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Can Gold Price Recover Above $1,260 In Near Term?

Key Highlights Gold price declined recently and tested the $1,240 support area against the US Dollar. There was a break above a declining channel with resistance at $1,248 on the 4-hours chart of XAU/USD. The US Factory orders in May 2018 increased 0.4%, more than the forecast of 0%. Today in the Euro Zone, the Services PMI for June 2018 will be released, which is...
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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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