Gold has been observed to be respecting the resistance of the 2,040.00 mark and periodically the 50, 100 and 200-hour simple moving averages. Namely, it does not appear that an SMA can hold for longer than half-a-day. On Thursday, the price bounced off the combination of the 2,040.00 and the 100-hour simple moving average. The subsequent decline was slowed down by
The consolidation of gains of the metal's price ended with a sharp surge that shortly reached above 2,140.00. Namely, the metal surged by 4.61% as a new month started. However, the gains were quickly erased, as the price returned to levels near 2,020.00. On Wednesday, the price was finding support in 2,020.00 and resistance was provided by the 50-hour simple moving
Since reaching the 2,050.00 mark, the price for gold has remained below it, as the price appears to be consolidating in the 2,040.00/2,050.00 range. From a fundamental perspective it is explained by the strengthening of the US Dollar that was caused by the publication of the US GDP data.In the meantime, traders stick to short positions, expecting the price to
The price for gold started a major surge at mid-day on Tuesday. The surge eventually reached and pierced the 2,050.00 mark. During the move, the rate shortly paused near 2,040.00, before breaking the ascending channel pattern to the upside. However, during the first half of Wednesday a retracement downwards occurred, as traders took profits before the release of the US Preliminary
After the initial surge, on Monday the price for gold fluctuated between the 2,010.00 and 2,015.00 levels. On Tuesday, the price firmly fluctuated around the 2,015.00 mark. Economic Calendar Analysis On Wednesday, at 13:30 GMT, the US Preliminary quarterly GDP is expected to impact the financial markets through the value of the US Dollar. On Thursday, the publication of the US Core
The support of the 100-hour simple moving average held on and eventually forced the price for gold to surge. The surge managed to finally break the resistance of the 2,005.00 level. During the first half of Monday's trading the surge struggled to reach above the 2,015.00 level that has turned out to be resistance. Economic Calendar Analysis On Wednesday, at 13:30 GMT,
Since mid-Tuesday, the price for gold has been kept up by the 100-hour simple moving average. Moreover, support was found in the 1,990.00 mark. As the price fluctuated sideways, it is set to reach the lower trend line of the channel up pattern. Economic Calendar Analysis Next week, the EUR/USD could react to the publication of the German and Spanish Consumer Price
Gold has retraced back down and found support in the 100-hour simple moving average near the 1,986.00 level. During the first part of Thursday's trading, it was spotted that the price remained below 2,000.00. The metal appeared to be needing additional support to push higher. The support could be provided by the 100-hour SMA moving higher. Economic Calendar Analysis Next week, the
Gold has broken the resistance zone that is located at the 1,995.00 level. However, the follow up surge appears to have been stopped by the upper trend line of the recently charted channel up pattern. The trend line caused a decline that has found support in the 1,995.00 mark. Economic Calendar Analysis On Friday, take into account that the release of the
The price for gold has been recovering since the US revealed lower than expected inflation that in turn weakened the US Dollar's value. Recently, the price has approached levels close to the 2,000.00 mark. On Monday, the commodity price was trading around the 1,980.00 level. By mid-Tuesday, it made an attempt to surge and reached 1,995.00. Economic Calendar Analysis This week, the
The price for gold has been recovering since the US revealed lower than expected inflation that in turn weakened the US Dollar's value. Recently, the price has approached levels close to the 2,000.00 mark. On Monday, the commodity price was trading around the 1,980.00 level. Economic Calendar Analysis This week, the financial markets could adjust to the publication of the US Federal
In general, the price for gold has been respecting the support and resistance of round price levels like the 1,945.00, 1,950.00, 1,955.00 and 1,960.00. Meanwhile, the hourly simple moving averages appear to have also impacted the commodity price. Economic Calendar Analysis On Tuesday note the US Consumer Price Index data set release at 13:30 GMT. The data release is set to impact
Gold has extended its decline, as the commodity traded 1,945.00 per ounce during mid-Thursday. Economic Calendar Analysis This week, there are no notable pre-scheduled events that might impact the currency exchange rate. Some financial news outlets note the upcoming "speech" of Jerome Powell on Thursday at 19:00 GMT. However, the head of the central bank is set to participate in a panel
The price for gold has declined and revealed that it respects the support of the 1,960.00 mark and the 1,956.60/1,957.10 range. Meanwhile, the 1,970.00 level has turned from support into resistance, as it was keeping the price down. Economic Calendar Analysis This week, there are no notable pre-scheduled events that might impact the currency exchange rate. Some financial news outlets note the
Gold failed to properly reach above 2,000.00 and started a decline that eventually found support in the 1,970.00 mark. On Thursday, it was spotted that the commodity price was respecting the resistance of the 1,990.30/1,997.15 zone. Economic Calendar Analysis On Friday, watch the US employment data release at 12:30 GMT. The release will consist of the US Average Hourly Earnings monthly change,
The price for gold remains above the 1,990.30/1,997.15 zone, as it looks for support to start a surge. Meanwhile, the 100 and 200-hour simple moving averages are trying to catch up with the rate. In general, previously described scenarios remain valid. Economic Calendar Analysis This week most events will be ignored due to a simple reason. The US central bank, The Federal
The price for gold has passed above the resistance zone of the triangle pattern and the 2,000.00 mark. However, instead of surging the commodity price has retraced down to the 1,990.30/1,997.15 zone and the 50-hour simple moving average. In the meantime, the commodity was being approached by the additional support of the 100-hour simple moving average and the supporting trend line
The price for gold has broken the channel up pattern that guided the commodity up throughout October. The surge almost amounted to a total of $200. After breaking the ascending channel, the metal has revealed a resistance zone at 1,890.85/1,997.15 and a supporting trend line that connects this week's low levels. Combined these levels form a triangle pattern. Economic Calendar Analysis On Friday,
Gold almost reached the 2,000.00 mark, before starting a consolidation. The consolidation started, as the price hit the upper trend line of the channel up pattern. On Monday, the commodity was finding support in the combination of the 50-hour simple moving average and the 1,970.00 mark. Meanwhile, it has been spotted that Dukascopy trader sentiment reveals how our traders acted. In
The surge continues, as the metal's price has reached the 1,950.00 mark at mid-Wednesday. Meanwhile, analysts have spotted that the surge could have occurred in a yet unconfirmed channel up pattern. Economic Calendar Analysis On Thursday, the US weekly Unemployment claims could create a minor reaction in the US Dollar. However, by large this event is being ignored by the markets, unless
Gold has reacted to a run to safety. Before the weekend, markets went into safe haven assets, as an escalation of the war in Middle East was expected. The commodity price reacted to the events with a surge to the resistance of the 1,932.50 level. Afterwards, a retracement to the support of the 1,910.00 level occurred. On Tuesday, the metal
The surge of gold continues, as on Wednesday the metal reached above 1,865.00 and touched the next resistance zone. Namely, the commodity has reached the 1,877.40/1,879.90 range. Economic Calendar Analysis On Thursday, at 12:30 GMT, the US Dollar will react to the combination of the US Consumer Price Index and the weekly Unemployment Claims data. Markets will be looking at this release
The price for gold has started to recover, as it has reached above 1,855.00. Meanwhile, prior support and resistance zones have been marked on the chart. In addition, note that the commodity might be trading in a channel up pattern, as it has been respecting an ascending resistance line that connects October high levels. Economic Calendar Analysis Watch out for the US
The start of the war in Israel has caused a run to safety. Market participants have been observed to be buying both the US Dollar and gold. Due to this reason, the surge of the price for gold has been rather low. The price jumped and has stuck near the 1,850.00 mark. Economic Calendar Analysis Watch out for the US inflation data.