The price for gold remains above the 1,930.50/1,932.10 range. Meanwhile, the pair is being approached by the resistance of the 50-hour simple moving average. In general, previous scenarios are relevant. Economic Calendar Analysis On Friday, at 12:30 GMT, the US employment data will impact the USD and all rates that involve it. The release will consist of the US Average Hourly Earnings
The price for gold has encountered resistance in the combination of the 50 and 100-hour simple moving averages near 1,955.00. The event combined with the broader USD strengthening on Wednesday has caused a decline of the commodity price. By mid-Thursday, the metal had reached the support zone at 1,930.50/1,932.10. Economic Calendar Analysis On Friday, at 12:30 GMT, the US employment data will
The price for gold reversed from the 1,972.40 level on Monday. There is no technical reason for the reversal. However, it can be attributed to a broader strengthening of the US Dollar. The decline eventually reached below the last week's low level and the 1,942.00 level. It appeared on Tuesday, that the metal is set to look for support either
The price of Gold plummeted last week due to the US Federal Reserve rate hike. The rate declined as low as 1,942.50/1,943.40, where it found support. Since the event, the price has managed to break the 50, 100 and 200-hour simple moving averages. At mid-Monday, the commodity had reached above 1,970.00. Economic Calendar Analysis This week, the rate could be impacted by
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The decline of USD boosted gold's
Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the price for gold extended the recovery that had started after finding support
The price for an ounce of gold has passed below the support zone at 1,957.25/1,964.20. However, it was observed that the 1,955.00 mark acted as support. Meanwhile, on Tuesday, resistance was encountered in the 1,965.00 level and the 200-hour simple moving average. Economic Calendar Analysis This week, all attention will be on the expected US Federal Reserve Rate hike at 18:00 GMT
The price for gold has revealed resistance and support zones. Support is found at 1,957.25/1,964.20. Resistance is encountered at 1,984.20/1,987.70. Meanwhile, the price appears to be respecting the 50 and 100-hour simple moving averages. Economic Calendar Analysis This week, all attention will be on the expected US Federal Reserve Rate hike at 18:00 GMT on Wednesday. The Federal Reserve is expected to
The price for gold has been spotted to have moved in a descending channel pattern since the start of June. Meanwhile round price levels continue to impact the metal's movements. Economic Calendar Analysis On July 7, at 12:30 GMT, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate will be released by the Bureau of Labor Statistics. On July 12, watch
Despite breaking the 1,930.00/1,932.25 resistance and touching the 1,935.00 mark, the price for gold has declined. On Thursday, the commodity was testing the resistance of the 1,920.00/1,922.70 range. Meanwhile, the 1,915.00 was observed acting as support. Economic Calendar Analysis On Thursday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT, the US Unemployment Claims at 12:30 GMT and the ISM
The price for gold has been fluctuating between two zones throughout the US market closure on July 4. Support is found at 1,919.75/1,922.60. Resistance is provided by the 1,930.40/1,932.25 range. It was previously observed that the 1,930.00 mark acts as resistance. However, it has been continually pierced. Economic Calendar Analysis This week, the top event will be the FOMC Meeting Minutes publication
The recovery of the yellow metal's price has found support in the 1,910.25 level, before surging to the 1,930.00 mark. Economic Calendar Analysis This week, the top event will be the FOMC Meeting Minutes publication on Wednesday at 18:00 GMT. The Meeting Minutes will reveal additional details into the US monetary policy. On Thursday, watch out for the ADP Non-Farm Employment Change at
The United States Bureau of Economic Analysis has published the US Final quarter on quarter Gross Domestic Product data. The markets expected US economy to have grown in the first quarter of the year by 1.4%. Instead of the expected, the economy has been reportedly increased by 2.0%. On gold charts it resulted in a drop from the 50-hour simple moving
The price for gold pierced the 1,910.25 level on Wednesday morning European hours. The event could result in a broader decline. Economic Calendar Analysis On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the USD value. On Friday, at 12:30 GMT, the US Core PCE Price Index is set to impact
The price for gold continued to make attempts to pass the resistance of the 1,930.00 mark and the 1,932.25 level. However, it failed at mid-Tuesday. The price of gold dropped, as the USD strengthened and reached even below 1,915.00 Economic Calendar Analysis On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment
The price of gold has revealed support at the 1,910.25 level. The support caused a recovery of the metal up to the 1,930.00 levels. However, the week as started at 1,925.00, before the 50-hour simple moving average acted as support and caused a move back up above 1,930.00. Economic Calendar Analysis This week, the pair could react to the release of US
Gold has been declining and reaching below one support level after another. This week, it appeared that the commodity price could reach the 1,900.00 mark. Economic Calendar Analysis The commodity price might react to the release of the US Services and Manufacturing PMIs on Friday at 13:45 GMT. XAU/USD short-term forecast Note that the metal's price was finding support and resistance in the
The price for gold has found support near 1,935.00 and enough strength to move back above the 1,952.00/1,955.00 range, which is once again acting as support. Economic Calendar Analysis On June 1, watch the US ISM Manufacturing Purchasing Managers Index release at 14:00 GMT. On June 2, the United States are scheduled to publish the monthly employment data sets. At 12:30 GMT,
During the past trading sessions, gold has been finding support in the 1,940.00 mark. Meanwhile, resistance appears to be provided by the 50-hour simple moving average not the 1,952.00/1,955.00 range or the 1,950.00 mark. On Monday, the 50-hour SMA was located near 1,945.00. Economic Calendar Analysis Watch for the US ISM Manufacturing PMI on Thursday at 14:00 GMT and the Friday's release
The price for gold has ended its broad sideways trading by declining below the 1,955.00 level. Moreover, the following decline reached as low as 1,940.00. However, by mid-Friday, the price had returned and was testing the 1,952.00/1,955.00 range's resistance. Economic Calendar Analysis On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar. Next
In general, gold trades between two zones, as the traders expect an outcome to the possible US debt default. Support is provided by the 1,952.00/1,955.00 range. Resistance is encountered at 1,982.00/1,985.00. Meanwhile, short term resistance and support can be encountered n the combination of the 50 and 100-hour simple moving averages near 1,970.00. Economic Calendar Analysis On Thursday, the US Preliminary GDP
The price for gold has once again bounced off the 1,955.00 level. On Wednesday morning, the price traded between the 1,970.00 and 1,980.00 level. Note that the 1,970.00 mark was being strengthened by the 50 and 100-hour simple moving averages. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy.
The price for gold has bounced off a resistance range at 1,982.40/1,984.00. By mid-Tuesday, the commodity price had reached the 1,951.90/1,954.40 range. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy. On Thursday, the US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to
The price of gold declined to the 1,955.00 level during the prior week. However, on Friday, a recovery started and the price reached back up to 1,980.00 levels. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy. On Thursday, the US Preliminary GDP and Unemployment Claims releases at 12:30