Gold has continued to test the 2,000.00/2,010.00 range's resistance. Each time the metal makes an attempt, a US data release causes a strengthening of the US Dollar and subsequent drop of the price for Gold. At mid-day on Thursday, the US GDP caused a drop of the price down to 1,985.00. The United States Bureau of Economic Analysis has published the
Gold started a surge at the start of Tuesday's US trading hours, as US banks experienced another stock price crash. However, the surge was stopped by the 2,000.00/2,010.00 range's resistance. Meanwhile, it was spotted on Wednesday that the price was finding support in the 50 and 100-hour simple moving averages. In general, previous forecast scenarios remain relevant. Economic Calendar Analysis This week,
The price of Gold ignored the 50 and 100-hour simple moving averages and approached the 2,000.00 mark. At midnight to Tuesday the price bounced off the round level. By mid-Tuesday, the metal appeared to be heading back to the 1,970.00/1,975.00 support zone. Economic Calendar Analysis This week, the US Advance GDP release at 12:30 on Thursday is bound to impact the value
Gold has revealed that it respects the range between 1,970.00 and 1,975.00 as support. Meanwhile, the 50 and 100-hour simple moving averages have acted as resistance. On Monday, the moving averages were approaching the price from above, as the metal continued to find support in 1,975.00 Economic Calendar Analysis This week, the US Advance GDP release at 12:30 on Thursday is bound
The 1.970.00 mark has provided enough resistance to the commodity price to cause a recovery. By mid-Thursday, the recovery had reached above the 50-hour simple moving average and the price was testing the 2,000.00/2,010.00 range. Economic Calendar Analysis On Friday, the US Flash Manufacturing and Services PMIs could cause an impact on the US Dollar. XAU/USD short-term forecast A move above 2,010.00 is
The price for gold has bounced off the 2,000.00/2,010.00 range and declined. By the middle of Wednesday's trading, the commodity price has reached the 1,975.00 level. Economic Calendar Analysis On Friday, the US Flash Manufacturing and Services PMIs could cause an impact on the US Dollar. XAU/USD short-term forecast A continuation of the ongoing decline might look for support in the February and
The resistance of the 2,050.00 mark held and caused a drop to the 2,000.00 mark. The commodity price appears to be fluctuating around the 2,000.00 mark. Economic Calendar Analysis Note the US Empire State Manufacturing Index on Monday at 12:30 GMT. On Friday, the US Flash Manufacturing and Services PMIs could cause an impact on the US Dollar. XAU/USD short-term forecast A decline of
The price for gold almost hit the 2,050.00 level, as the US Producer Price Index data caused a drop of the US Dollar at mid-day on Thursday. However, after two attempts to reach the round price level, the commodity started a decline. By mid-Friday, the price had almost reached back to 2,030.00. Economic Calendar Analysis On Friday, the US Retail Sales data
The lower than expected overall US inflation data was taken in by the markets as a signal that the US Federal Reserve would not continue to hike interest rates. The news caused a drop of the US Dollar. The price of gold reacted to the news with high volatility, before starting a surge. By the middle of Thursday's trading, the
The price for Gold retreated below 2,000.00 on Monday, before finding support in the combination of the 1,990.00 level and the 200-hour simple moving average. At mid-day on Tuesday, the commodity price was testing the resistance of the 2,000.00/2,010.00 range. Economic Calendar Analysis On Wednesday, watch out for the US Consumer Price Index release at 12:30 GMT. The US inflation data is
The price for gold did not manage to properly surge above 2,030.00. The price declined and found support initially in the 2,010.00 level. By mid-Thursday the decline had extended and the price was finding support at 2,000.00. Economic Calendar Analysis On Friday, at 12:30 GMT, the United States will publish the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate. On Wednesday, watch
The US JOLTS Job Openings data caused a drop of the US Dollar. Before the event, the price for gold was already testing the resistance of the 1,990.00 level and wanted to reach higher. The event caused surge up to 2,020.00. On Wednesday, the surge continued, as the price used the 2,020.00 mark as support and reached above 2,030.00. Economic Calendar
At the start of April trading, the US Dollar was highly volatile. Initially, OPEC+ decreased production. The decrease caused a surge of oil prices. The increase of oil prices first of all increased demand for oil deals in USD and secondly signals that inflation would remain high. High inflation is expected to be the basis for more USD interest rate
The price for gold has moved higher and trades between the 1,975.00 and 1,985.00 levels. In general, it appears that the commodity waits for more events or economic data before ascending or declining in value. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI release at 14:00 GMT could cause a move in the US Dollar. On Wednesday, the US ADP
The price for gold has been ignoring the 50, 100 and 200-hour simple moving averages. Meanwhile, it has been respecting round price levels. Namely, the 1,960.00 and 1,975.00 levels have shown to be able to reverse the price's direction. Economic Calendar Analysis On Thursday, at 12:30 GMT, the publication of Final US quarterly Gross Domestic Product is set to be published. The
The price for gold appears to be consolidating near the 1,950.00 mark. However, at mid-day on Tuesday a surge of the price occurred up to the 50 and 100-hour simple moving averages near 1,965.00. Economic Calendar Analysis On Thursday, at 12:30 GMT, the publication of Final US quarterly Gross Domestic Product is set to be published. The release might impact the USD.
The resistance of the 2,000.00 mark has held and caused another decline. By late Monday's trading hours, the commodity price had reached below 1,950.00. During the decline, the price ignored the support of the 50, 100 and 200-hour simple moving averages and the January and February high levels. Economic Calendar Analysis On Thursday, at 12:30 GMT, the publication of Final US quarterly
The yellow metal has once again reached the 2,000.00 mark. The market appears to have returned to risk off sentiment. Meanwhile, it has been spotted that the commodity faces a resistance zone at 2,000.00. Economic Calendar Analysis On Thursday, at 12:30 GMT, the publication of Final US quarterly Gross Domestic Product is set to be published. The release might impact the USD.
Even prior to the US Federal Reserve rate hike, the price for gold broke the channel up pattern to the downside and retreated to 1,940.00. However, the US Federal Reserve rate hike and press conference resulted in an apparent recovery of the commodity price. By the middle of Thursday's European trading, the price had reached 1,980.00. Economic Calendar Analysis Next week, the
As the Credit Suisse saga continued, markets ran to safety. Due to this reason, the price for gold reached above 2,000.00. However, since the event, the price appears to be consolidating, as it waits for the US Federal Reserve rate announcement on Wednesday at 18:00 GMT. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the US Federal Reserve is set to hike
The price for gold has found support in the 1,915.00 level and the 50-hour simple moving average. The event was followed by a surge, which by the middle of Friday's trading had pierced the January high level at 1,949.00. Economic Calendar Analysis Next week, the top event of them all is set to take place. On Wednesday, at 18:00 GMT, the US
The crash of Credit Suisse stock price has caused a run to safety. On Gold charts it has resulted in a surge up to the 1,930.00 level. Economic Calendar Analysis This week, scheduled events are over. Next week, the top event of them all is set to take place. On Wednesday, at 18:00 GMT, the US Federal Reserve is set to hike its
The price for gold has surged above the 1,900.00 mark, as a run to safety occurred last week. At the start of this week, the commodity price was consolidating in the 1,895.00/1,915.00 range. The market appears to be waiting for additional fundamental information before moving up or down. Economic Calendar Analysis The top event of the week was the US Consumer Price
The price for gold has remained near the 1,870.00 level. Meanwhile, previous low and high level zones are being ignored. However, round price levels appear to be still impacting the commodity price. Economic Calendar Analysis The top event of the week will take place on Tuesday at 13:30 GMT. The US Consumer Price Inflation data will be published at that time. The