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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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...
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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...
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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...
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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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