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
The price for gold dropped below the 2,000.00 mark in the aftermath of the US Retail Sales release on Tuesday. The fundamental event strengthened the US Dollar. Moreover, information came into news flows that the US politicians had made progress in US government debt talks. Economic Calendar Analysis On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight
The price for gold has bounced off the combined resistance of the 2,020.00 level and the 100-hour simple moving average. By mid-Tuesday, the commodity had returned to trade in the 2,000.00/2,010.00 range. In general, previous forecast scenarios remain relevant. Economic Calendar Analysis During the upcoming week, on Tuesday, the US Flash Manufacturing and Services PMIs might impact the financial markets through an
The 2,000.00/2,010.00 range has once again impacted the price for gold. The commodity found support in the range and recovered to the 2,020.00 level, where it remained up to mid-Monday. Economic Calendar Analysis During the upcoming week, on Tuesday, the US Flash Manufacturing and Services PMIs might impact the financial markets through an adjustment of USD value. On Wednesday, at 18:00 GMT,
Eventually, the price for hold passed below the combined support of the 50 and 100-hour simple moving averages and the lower trend line of the channel up pattern. Moreover, the US PPI release caused volatility and boosted the ongoing decline. By mid-Friday, the commodity price had returned to the 2,000.00/2,010.00 range. Economic Calendar Analysis During the upcoming week, on Tuesday, the US
The price for gold was looking for support, as the US Consumer Price Index release caused a sudden drop of the USD. However, it appears that the surge of the commodity price has been already stopped by the 2,050.00 mark and the upper trend line of a channel up pattern. Economic Calendar Analysis On Thursday, watch out for the US Producer Price
Prior to the US CPI release, the price for gold steadily continued to gain. By mid-Tuesday, the pair had reached above 2,030.00. Economic Calendar Analysis This week, the US Consumer Price Index data release on Wednesday at 12:30 GMT is set to impact the financial markets. On Thursday, watch out for the US Producer Price Index publication at 12:30 GMT. In addition, at
The price for gold jumped after the Fed rate hike and touched the 2,080.00 mark. However, the event was followed by a decline on Friday, as markets expected a possible additional banking sector bail out. On Monday, there was no bail out and gold resumed to surge. By mid-day, the price had almost reached back to 2,030.00. Economic Calendar Analysis This week,
The record low US open job numbers were enough to cause a surge of the price for gold above 2,000.00/2,010.00 already on Tuesday. During the Wednesday's US Federal Reserve rate hike and follow up conference, gold continued to surge and touched 2,035.00. The surge was attributed to the Chairman's of the Federal Reserve comments on an upcoming recession and possible
Gold spiked on Monday. However, the spike was followed by a drop back to previous levels. On Tuesday, the price continued to trade between 1,980.00 and 1,990.00. In general, the situation remains unchanged since April 19, as the commodity price waits for the US Federal Reserve rate hike. Economic Calendar Analysis This week, the top event of the week will be the
In general, the price for gold remains in previous range. However, take into account that round price levels appear to be providing short term impact on the commodity price. Meanwhile, broader support and resistance zones remain unchanged. Economic Calendar Analysis This week, the top event of the week will be the announcement of the US Federal Reserve Federal Funds Rate at 18:00