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

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...
Read More

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...
Read More

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...
Read More

Gold Price Approaching Key Resistance Near $1,210

Key Highlights Gold price recovered sharply and moved back above the $1,200 support against the US Dollar. There was a break above a bearish trend line with resistance at $1,197 on the 4-hours chart of XAU/USD. The UK Construction PMI in Sep 2018 declined from 52.9 to 52.1. The US ADP Employment figure for Sep 2018 will be released today, which is likely to increa...
Read More

12...»