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...
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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...
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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...
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Gold Price Starts Downside Correction From $1,440

Key Highlights Gold price gained significantly above $1,400 and $1,420 against the US Dollar.A key bullish trend line is forming with support near $1,412 on the 4-hours chart of XAU/USD.The US New Home Sales in May 2019 declined 7.8% (MoM), whereas the forecast was +1.9%.The US Durable Goods Orders in May 2019 might increase 0.2%. Gold Price Technical Analysis After a...
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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...
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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...
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Gold Price Daily Chart Signaling Bearish Continuation

Key Highlights Gold price topped near the $1,346 level in Feb 2019 and later corrected lower.There is a crucial declining channel formed with resistance at $1,292 on the daily chart of XAU/USD.China’s GDP grew 6.4% in Q1 2019 (YoY), more than the 6.3% forecast.The US Retail Sales in March 2019 could increase 0.9% (MoM), better than the last -0.2%. Gold Price Technical ...
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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...
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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 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...
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