Gold Price Moves Further Into The Red Zone

Key Highlights Gold price is declining and it recently traded below $1,460 against the US Dollar.A key bearish trend line is forming with resistance near $1,462 on the 4-hours chart of XAU/USD.UK’s ILO Unemployment rate declined from 3.9% to 3.8% in Sep 2019 (3M).The US CPI could increase 1.7% in Oct 2019 (YoY), similar to the last reading. Gold Price Technical Analysi...
Read More

Gold Price Showing Bearish Signs, Fed Decision Next

Key Highlights Gold price struggled to climb above $1,520 and declined recently against the US Dollar.There was a break below a major bullish trend line with support near $1,490 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 1.5% in Sep 2019 (MoM), more than the +0.9% forecast.The US GDP is likely to grow 1.7% in Q3 2019 (Preliminary), down from the las...
Read More

Gold Price Facing Crucial Resistance Near $1,500

Key Highlights Gold price is trading below a major hurdle near $1,500 against the US Dollar.There is a crucial bearish trend line forming with resistance near $1,500 on the 4-hours chart of XAU/USD.The US Retail Sales declined 0.3% in Sep 2019 (MoM), whereas the forecast was +0.3%.The US Industrial Production could decline 0.1% in Sep 2019 (MoM), whereas the last was +0.6%....
Read More

Gold Price Holding Key Support Ahead Of FOMC Minutes

Key Highlights Gold price recovered from $1,460 and settled above $1,485 against the US Dollar.There is a key bearish trend line forming with resistance near $1,510 on the 4-hours chart of XAU/USD.The US PPI declined 0.3% in Sep 2019 (MoM), whereas the forecast was +0.1%.Today’s FOMC Meeting Minutes could impact gold price in the short term. Gold Price Technical Analys...
Read More

Gold Price Hesitates But Further Gains Seem Likely

Key Highlights Gold price formed a solid support near $1,485 and climbed above $1,515 against the US Dollar.There was a break above a major bearish trend line at $1,506 on the 4-hours chart of XAU/USD.The US Consumer Confidence declined sharply from 134.2 to 125.1 in Sep 2019.The US New Home Sales could increase 3.9% in August 2019 (MoM), better than the last -12.8%. Gol...
Read More

Gold Price Remains Well Supported For More Gains

Key Highlights Gold price seems to be facing resistance near $1,550 and $1,555 against the US Dollar.A crucial bullish trend line is forming with support at $1,530 on the 4-hours chart of XAU/USD.EUR/USD recovered above 1.1000 and GBP/USD surged more than 150 pips recently.The US ADP Employment could change 148K in August 2019, less than the last 156K. Gold Price Technic...
Read More

Gold Price Could Rally To $1,560, US GDP Next

Key Highlights Earlier this week, gold price surged to a new 6-year high at $1,555 against the US Dollar.The price remains supported near $1,525 and a bullish trend line on the 4-hours chart.EUR/USD is struggling below 1.1120 and GBP/USD is holding the key 1.2150 support.The US GDP in Q2 2019 is likely to grow 2% (preliminary), less than the last 2.1%. Gold Price Technic...
Read More

Gold Price Hits New 6-Year High, Rally Seems Unstoppable

Key Highlights Gold price rallied above the $1,500 and $1,520 resistance levels against the US Dollar.A new 6-year high was formed above $1,530 before the price corrected lower.The US CPI increased 1.8% in July 2019 (YoY), more than the 1.7% forecast.The UK CPI might increase 1.9% in July 2019 (YoY), less than the last 2.0%. Gold Price Technical Analysis This month, g...
Read More

Gold Price Remains In Strong Uptrend Above $1,400

Key Highlights Gold price started a downside correction from the $1,450 resistance against the US Dollar.A crucial bullish trend line is forming with support near $1,418 on the 4-hours chart of XAU/USD.The US Personal Income in June 2019 increased 0.4% (MoM), similar to the forecast.The US ADP Employment could change by 150K in July 2019, more than the last 102K. Gold Pr...
Read More

Gold Price Remains Well Supported On Dips

Key Highlights Gold price failed once again near the $1,435 resistance area against the US Dollar.A major bullish trend line is forming with support near $1,396 on the 4-hours chart of XAU/USD.The US ADP Employment changed 102K in June 2019, less than the 140K forecast.The Euro Zone Retail Sales in May 2019 might rise 0.3% (MoM), up from the last -0.4%. Gold Price Techni...
Read More

12...»