Gold Price Breaks Key Resistance, Dips Remain Supported

Key Highlights Gold price started a fresh increase above $1,288 and $1,300 resistances against the US Dollar.There was a break above a key bearish trend line at $1,281 on the 4-hours chart of XAU/USD.The US Factory Orders in April 2019 declined 0.8%, less than the -0.9% forecast.The US ISM Non-Manufacturing Index in May 2019 is likely to remain stable at 55.5. Gold Price...
Read More

Gold Price Turns Positive Above $1,290, Could Test $1,310

Key Highlights Gold price started a fresh increase above $1,285 and $1,290 resistances against the US Dollar.A key bullish trend line is forming with support at $1,290 on the 4-hours chart of XAU/USD.The US Import Price Index advanced 0.2% in April 2019 (MoM), less than the +0.7% forecast.The US Retail Sales in April 2019 could increase 0.2% (MoM), less than the last +1.6%....
Read More

Gold Price Approaching Resistance, Fed Decision Next

Key Highlights Gold price started an upside correction from $1,266 against the US Dollar.There is a major bearish trend line forming with resistance near $1,292 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 3.8% in March 2019, more than the 1.1% forecast.The Fed Interest Rate Decision is scheduled today (forecast 2.5%, versus 2.5% previous). Gold Pr...
Read More

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...
Read More

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...
Read More

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...
Read More

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...
Read More

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 Could Extend Rally Above $1,300

Key Highlights Gold price gained traction in the past few days and broke the $1,285 resistance against the US Dollar. There is a crucial bullish trend line formed with support at $1,288 on the 4-hours chart of XAU/USD. The US PPI in Dec 2018 declined 0.2% (MoM), more than the -0.1% forecast. The UK CPI report for Dec 2018 will be released today, which could rise 2...
Read More

Gold Price Could Extend Correction, FOMC Next

Key Highlights Gold price formed a short term top near $1,298 and later declined against the US Dollar. There was a break below a major bullish trend line with support at $1,288 on the 4-hours chart of XAU/USD. The Euro Area Business Climate Index in Dec 2018 declined from the last revised reading of 1.04 to 0.82. Today’s high risk event is the Federal Open Mark...
Read More

12...»