Gold Price Turns Bearish Versus US Dollar

Key Highlights Gold price made a U-turn and declined below the $1275 support against the US Dollar. There was a break below an important ascending channel with support at $1282 on the 4-hours chart of XAU/USD. The US ADP Employment Change in Nov 2017 was 190K, better than the forecast of 185K. Today, the US Initial Jobless Claims for the week ending Dec 2, 2017 wi...
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Gold Price Poised to Break $1300 Vs US Dollar

Key Highlights Gold price remains in a major uptrend and is currently well above the $1280 support against the US Dollar. There is a key rising channel forming with support at $1282 on the 4-hours chart of XAU/USD. The US New Home Sales in Oct 2017 increased 6.2% (MoM), which was opposite to the -6.3% forecast. Today, the US Housing Price Index for Sep 2017 will b...
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Gold Price Signaling Bullish Continuation above $1280 Vs US Dollar

Key Highlights Gold price started an upside correction from the $1265 swing low against the US Dollar. There is a crucial ascending channel forming with support near $1274 on the 4-hours chart of XAU/USD. The US Consumer Price Index in Oct 2017 increased 2% (YoY), similar to the market forecast. Today, the US Industrial Production for Oct 2017 will be released, wh...
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Gold Price Upsides Remain Limited Above $1295 Vs US Dollar

Key Highlights Gold price struggled to settle above $1300 against the US Dollar and moved down. There is a major bullish trend line forming with support at $1270 on the daily chart of XAU/USD. The US Manufacturing PMI in Oct 2017 (Prelim) posted a rise from the last reading of 53.1 to 54.5. Today, the US New Home Sales for Sep 2017 will be released, which is forec...
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Gold Price is Back in Uptrend Above $1285 Vs US Dollar

Key Highlights Gold price after forming a bottom near $1260 against the US Dollar started an upside move. There was a break above a key bearish trend line with resistance at $1284 on the 4-hours chart of XAU/USD. Recently in the US, the NY Empire State Manufacturing Index posted a rise from 24.4 to 30.2 in Oct 2017. Today, the US Industrial Production for Sep 2017...
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Can Gold Price Hold This Important Support Vs US Dollar?

Key Highlights Gold price after trading towards $1360 against the US Dollar made a short-term top. At the moment, the price is trading near a major support near $1320 on the 4-hours chart. China’s Retail Sales in August 2017 posted an increase of 10.1% (YoY), less than the forecast of +10.5%. China’s Industrial output in August 2017 posted an increase of 6% (Y...
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Can Gold Price Remain Above $1255 Vs US Dollar?

Key Highlights Gold price after trading towards $1275 found resistance and declined sharply against the US Dollar. There are two important bullish trend lines forming with supports at $1258 and $1255 on the 4-hours chart of XAU/USD. Today, the Caixin China Services PMI for July 2017 was released, which posted a minor decline from 51.6 to 51.5. The US Services PMI ...
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Gold Price Forming A Double Top Vs US Dollar?

Key Highlights Gold price is under pressure and trading below the $1260 support against the US Dollar. It seems like the price is forming a double top pattern near $1295 on the daily chart. Recently in the US, the Durable Goods Orders for May 2017 released by the US Census Bureau posted a decline of 1.1%. Today, the Fed’s Janet L. Yellen speech is scheduled, whi...
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Gold Price Established a Medium-term Bearish Trend?

Key Highlights Gold price after trading towards $1300 in mid-April 2017 faced a strong resistance, and started a downside move. There was a break below a monster ascending channel support at $1240 during the start of May 2017, signaling a bearish bias. The downside move extended this week, and now sellers eye a break below $1200. Today, the US Consumer Price Index...
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Gold Price Approaching Monster Hurdle Vs US Dollar

Key Highlights Gold price is trading with a positive bias, but heading towards a monster resistance at $1280. The weekly chart of gold price clearly highlights a major resistance around $1280 and $1300. Today in the US, the Consumer Confidence for March 2017 will be released by the Conference Board, which is forecasted to decrease from 114.8 to 113.8. The Richmond...
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