As the US Dollar has been experiencing a decline due to the markets thinking that the Federal Reserve would be less restrictive in their monetary policy, the price for gold has surged. On Wednesday morning, the price touched the 1,675.00 level. Economic Calendar Analysis On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and
At mid-day on Friday the price for gold suddenly surged and broke the channel down pattern to the upside. By the start of Monday's trading, the 1,670.00 level had been touched. The 1,670.00 acted as resistance and caused a decline. By mid-Monday, the price had almost reached the 50 and 100-hour simple moving averages near 1,640.00. Economic Calendar Analysis On Monday, look
The price for gold eventually encountered resistance in the combination of the 1,645.00 level, the 100-hour simple moving average and the upper trend line of a channel down pattern. The resistance forced the price into retreating down to the 1,615.00/1,622.00 zone. he support zone appeared to have caused another recovery. Economic Calendar Analysis On Monday, look out for the Markit Services and
The price for gold eventually found support above the 1,615.00/1,622.00 zone. The 1,625.00 level appears to have acted as support. During the first half of Thursday's trading, the price recovered back up to the 1,635.00 level. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor
On Wednesday, the price for gold passed below the 1,640.00 level's support. By the middle of the day, the pair had reached the 1,630.00 level. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve Manufacturing Index
Despite attempting to recover at mid-day on Monday, the price for gold has returned to trade near the 1,650.00 level. On Tuesday morning, the pair attempted a recovery and failed due to the resistance of the 100-hour SMA and the 1,660.00 level. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact the US Dollar and the
The price for gold found support in the 1,640.00 level and the zone above it. On Monday, the price had recovered and reached above 1,650.00. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve Manufacturing Index
The US Consumer Price Index release caused major volatility up and down on all US Dollar involved charts. On the gold price charts it resulted in a drop below 1,645.00 and a follow up recovery above 1,670.00. Above the 1,670.00 level, the 100-hour simple moving average acted as resistance and caused a decline. By the middle of Friday's trading, the price
Since October 11, the price for gold was almost flat, as the markets expected the US Consumer Price Inflation data at 12:30 GMT. The news are set to massively impact the US Dollar's value. Subsequently, the price for gold is set to adjust. Economic Calendar Analysis On Thursday, the top event of the week will take place. The United States Consumer Price
The 1,657.50/1,662.50 zone has acted as support and held the price for gold up. Meanwhile, note that a surge up to the 1,685.00 was caused by fundamental news from the Bank of England. However, on Wednesday morning, the pair was once again at the support zone. Economic Calendar Analysis This week, the markets are looking forward for the monthly United States inflation
The decline of the price for gold has slightly increased, as the price has approached a support zone near 1,660.00. Economic Calendar Analysis This week, the markets are looking forward for the monthly United States inflation and retail sales data. In addition, on Wednesday, the FOMC Meeting Minutes might impact the markets. On Wednesday, at 12:30 GMT, the US Producers Price Index change
The better than expected US employment data has caused a surge of the US Dollar, which has resulted in a decline of commodity prices. By 09:00 GMT on Monday, the price for gold had reached the 1,680.00 level and the 1,685.00 level together with the 200-hour SMA were acting as resistance. Economic Calendar Analysis This week, the markets are looking forward for
The decline of gold's price on Wednesday was finding support in the 50-hour simple moving average near 1,705.00. However, the SMA eventually failed and a short lived decline occurred, as the commodity immediately reversed at the 1,700.00 level. Economic Calendar Analysis Above all, on Friday, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to move the markets. XAU/USD
On Tuesday afternoon, the price for gold broke the upper trend line of the channel up pattern and reached the September high levels near 1,730.00. The 1,730.00 level acted as resistance and caused a price decline. Economic Calendar Analysis On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing PMI caused a broad decline of
The surge of the price for gold has reached the 1,710.00 mark. As the metal has reached new high levels, we have marked the September high at 1,730.00 and the late August high at 1,765.10. In addition, it has been spotted that the recent commodity recovery has occurred in a channel up pattern. Economic Calendar Analysis On Wednesday, the US ISM Services
At 14:00 GMT on Monday, the price for gold reacted to US data. Namely, the US ISM Manufacturing PMI was revealed to b at 50.9, compared to forecast 52.5. The event resulted in a broad drop of the US Dollar. On the gold charts the price spiked through the resistance of 1,680.00 and 1,685.00. Economic Calendar Analysis This week, the rate is
The support of the 100-hour simple moving average was enough to cause a surge of the price for gold. During the early hours of Friday's trading, the commodity price had almost reached the 1,675.00 level. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal
On Wednesday, the Bank of England announced that it would buy government bonds valued at a total of 65 billion Pounds. The market took in the news as follows - the bailing out of the government will create more inflation and will force the BoE to hike rates even more intensively. As a result a surge of the GBP against
The decline of the price for gold has reached the 1,615.00 level. The commodity price has been gradually declining from one round price level to another. In general, the situation remains unchanged. Economic Calendar Analysis On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell
The price for gold has booked a new low level, as it approached the 1,620.00 level during the late hours of Monday's trading. The level acted as support and caused a retracement of the price up to the 1,640.00 level. Economic Calendar Analysis This week, there are two times to look at the economic event calendar. On Tuesday, at 14:00 GMT, the
With the start of Monday's trading, the price for gold reached a new low level, as it shortly fluctuated below 1,630.00. The decline was attributed to the broader strengthening of the US Dollar, which was caused by the release of the UK fiscal budget and a run to the safety of the USD. Economic Calendar Analysis This week, there are two times
In general, the Bank of Japan has intervened in the forex market by pumping up the Yen massively. This has resulted in a drop of the US Dollar index, which in turn caused a surge of the price for gold. Meanwhile, from a broader perspective the price remained in the previous sideways trading range between 1,655.00/1,660.00 and 1,677.60/1,680.25 even during the
The price for gold is still trading between support at 1,655.00/1,660.00 and resistance at 1,677.60/1,680.25. The commodity price has been in this range since September 16, as it awaits for the US Federal Reserve Rate hike at 18:00 GMT on September 21 to reveal the future direction of the US Dollar and the price. Economic Calendar Analysis This week, the top event
The price for gold is apparently waiting for the US Federal Reserve Rate hike, which is scheduled for Wednesday's 18:00 GMT. Namely, the metal has been trading between the resistance of the 1,680.00 level and the support of 1,655.00/1,660.00 since Friday. On Tuesday morning, the pair had once again bounced off the resistance of the 1,680.00 level. Economic Calendar Analysis This week,