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...
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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...
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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 Facing Many Hurdles Near $1,235

Key Highlights Gold price failed to surpass the $1,236 and $1,239 resistances and declined against the US Dollar. There is a key bearish trend line formed with resistance at $1,232 on the 4-hours chart of XAU/USD. The US Housing Price Index in Sep 2018 increased 0.2% (MoM), less than the +0.4% forecast. Today, the US Gross Domestic Product for Q3 2018 (Preliminary...
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Gold Price Slides Below Key Support, US CPI Next

Key Highlights Gold price failed to surpass the $1,240 resistance and declined against the US Dollar. There was a break below a major bullish trend line with support at $1,224 on the 4-hours chart of XAU/USD. The UK ILO Unemployment Rate increased from the last reading of 4.0% to 4.1%. Today, the US Consumer Price Index for Oct 2018 will be released, which is fore...
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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 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 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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