The yellow metal plummeted on Friday, as good US employment data caused a surge of the US Dollar's value. On Monday, the metal's price had slightly recovered and reached the resistance of the 200-hour simple moving average near 1,465.00. Economic Calendar Analysis This week there are a couple of events that could impact the rate. On Wednesday, at 13:30 GMT the
The metal failed to pass the resistance of the 1,480.00 level on Thursday. By the middle of Friday's trading, the price had declined and found support in the 100-hour SMA at 1,471.30. In general, the price was expected to get squeezed in between the resistance of the 55-hour SMA and a pivot point near 1,475.50 and the support of the
The yellow metal's price has retreated to the 55-hour SMA, which stopped its decline on Wednesday. By the middle of Thursday's trading session, the SMA had caused a surge. The metal's price was set to once again test the psychological resistance of round price levels. Economic Calendar Analysis On Friday, the US Employment data sets will be published at 13:30 GMT. The
The surge of gold ended on Wednesday, as it approached the 1,485.00 level. The end of the surge was followed by a drop to the 1,475.00 level, where the price began to consolidate. The metal had two possible near term future scenarios, based upon whether the 1,475.00 manages to continue to provide support. Fundamentals Crash US Dollar Since Monday, December 2,
Gold jumped on Tuesday, as this review was being written. The main reason for the surge was the fall of the US Dollar caused by EU-US trade dispute. Namely, the US retaliated against French digital tax by setting tariffs. The event was followed by an EU announcement that retaliation is upcoming. Meanwhile, from a technical perspective, the metal had no
By the middle of Monday's London trading session, the yellow metal had traded between 1,454.00 and 1,462.00. In general, the 1,454.00 level continued to support the metal. In the meantime, the rate was being kept down by the 200-hour SMA and a 23.60% Fibo just above the 1,462.00 mark. In the meantime, a channel up pattern has been spotted on the
The yellow metal's price has broken a channel down pattern. In addition, the resistances of the 55 and 100-hour simple moving averages were passed on Friday. Meanwhile, it was spotted that round price levels were having bigger impact on gold than the simple moving averages. Due to that reason it was more valuable to watch them. Economic Calendar Analysis This week there
On Thursday, the yellow metal's price remained near previous levels. Namely, it fluctuated between 1,454.00 and 1,458.00. From a technical perspective, the price was expected to reach the support of the 1,450.00 level, as soon as the 100-hour SMA approaches the metal's price from above. Economic Calendar Analysis This week there are no more data releases, which might impact this rate. Meanwhile,
Throughout the first half of Wednesday's trading, gold was kept up by the 55-hour SMA, which provided support. Just after midday, the metal's price declined below it, signaling a decline. In theory, in the near term future, the metal should decline to the psychological support of the 1,450.00 mark, which provided support on Tuesday. Economic Calendar Analysis This week there are no
On Tuesday, gold made an attempt to surge, which was stopped by the resistance of the 55-hour simple moving average near 1,460.17. The SMA was expected to push the rate into a test of the support of the 1,450.00 level. Economic Calendar Analysis The pair could be slightly impacted by the US publications on Wednesday. At 13:30 GMT, the US Durable Goods Orders,
By the middle of Friday's trading, the yellow metal had reached above the resistance of 55 and 100-hour simple moving averages near 1,470.00. In regards to the future, the metal had no resistance as high as the pivot point at 1,475.18. Economic Calendar Analysis Next week, the pair could be slightly impacted by the US publications on Wednesday. At 13:30 GMT on that
Since the middle of Wednesday's London trading hours, the yellow metal's price has fluctuated between 1,465.00 and 1,476.00. Economic Calendar Analysis There are no more scheduled data releases this week that might impact gold's price. The week's reaction tables have been published. Take a look at the 18.11-22.11 Event Historical Reactions publication. Read More: 18.11-22.11 Event Historical Reactions XAU/USD short-term forecast On
Gold reached its target at 1,475.18, where a monthly pivot point is located at. In addition, on Wednesday the rate passed this resistance and shortly reached above 1,478.00. By the middle of Wednesday's London trading hours, the commodity price was consolidating its gains by retracing downwards. Economic Calendar Analysis On Wednesday, the FOMC Meeting Minutes are set to be published at 19:00
Gold has retreated and found support in the hourly simple moving averages near the 1,465.00 level. At the start of the second part of Tuesday's trading, the commodity price was recovering after bouncing off the support. It was expected that the surge of the metal would reach the resistance of the pivot point at 1,475.18. Economic Calendar Analysis On Wednesday, the FOMC
On Thursday, gold reached the targeted S1 of the simple pivot points at the 1,475.18 level. Moreover, the level was also strengthened by the 200-hour simple moving average, which was also expected. This resulted in a decline, which by the middle of Friday's trading session had bounced off the support levels near the 1,462.00 level. In regards to the near term
The recovery of gold's price continues. By the middle of Thursday's trading the yellow metal had reached the 1,470.00 level. In regards to the future, the commodity price is still expected to reach for the pivot point at 1,475.18. Economic Calendar Analysis The US PPI and Core PPI data sets are scheduled to be released on Thursday at 13:30 GMT. This is
The yellow metal managed to find support in the 1,450.00 level on Tuesday. By the middle of Wednesday's trading, the pair had reached above technical levels that are located just below 1,465.00. By passing the technical levels the rate had no technical resistance as high as the pivot point at 1,475.18. Economic Calendar Analysis This week, US data is set to impact
The yellow metal's price has declined to the 1,450.00 mark. In general, the decline continues. In regards to the near term future, another drop or consolidation is expected. Economic Calendar Analysis This week, US data is set to impact the price of gold through the value adjustments of the USD. On Wednesday, at 13:30 GMT the US Consumer Price Index and Core Consumer
Gold started the week by trading up. Namely, it surged from the 1,460.00 level to the 1,465.00 level. The metal was expected to reach the 1,470.00 level, where it would meet with the technical resistance of the 55-hour simple moving average. Economic Calendar Analysis This week, US data is set to impact the price of gold through the value adjustments of
The commodity price broke the support of the medium scale pattern. It occurred in a sharp move, which gained momentum and reached as low as the 1,460.00 level. On Friday, the rate was consolidating in the aftermath of the previous move down. Economic Calendar Analysis There are no more events scheduled for this week, which could impact gold prices through the value
The recovery of gold has met with the resistance of the 55-day simple moving average, which pushed the rate back into the support of the medium term ascending channel pattern. By the middle of Thursday's London trading, the rate had bounced off the support of the pattern. Economic Calendar Analysis There are no more events scheduled for this week, which could impact
On Wednesday, gold traded near the 1,485.00 level, to where it had sharply plummeted on Tuesday. The decline of the metal had been stopped by the lower trend line of an ascending channel pattern, which can be seen on the hourly candle chart. In regards to the near term future, the metal should consolidate by trading sideways. US ISM Non-Manufacturing
Gold failed to pass the resistance of the 1,515.00 level. The failure resulted in a decline, which by the middle of Tuesday's trading session had reached below the 55 and 100-hour simple moving averages. The rate was set to test the support of the 1,500.00 mark and the 200-hour simple moving average, which was located at 1,501.25. FOMC Statement and Federal
The yellow metal started the week by trading sideways between 1,510.00 and 1,515.00. The sideways trading was expected to continue until the end of the day. In regards to the near term future, the rate was more likely to surge than decline, as it was being approached by the support of the 55-hour simple moving average. FOMC Statement and Federal Funds