The decline of gold has continued. By the middle of Monday's London trading, the price had reached below the 1,485.00 level. In regards to the near term future, a bounce off from a support level was expected. Economic Calendar Analysis This week, there are a couple of US macroeconomic data releases, which might impact gold through the strength of the US Dollar. On Tuesday,
The metal has ended its sideways trading with a decline. By the middle of Friday's London trading, the metal's price had reached below the 1,495.00 level. The rate was set to face two support levels at 1,492.00, below which there was not technical support as low as 1,462.90. Economic Calendar Analysis The week will end with the US Durable Goods Orders data release
The 1,535.00 level was strong enough to eventually cause a decline. As soon as the decline reached below the 1,530.00 mark, it increased and dropped down to almost touch 1.500.00. On Thursday, the metal's price was trading sideways between 1,505.00 and 1,510.00 levels. Economic Calendar Analysis On Thursday, the US Final GDP will be published at 12:30 GMT. This event could cause a
On Tuesday, the price for gold tried to surpass the psychological level at 1,535.00. On Wednesday morning, yellow metal was trading at the 1,530.00 mark. Given that the commodity is supported by the 55-hour moving average, it is likely that some upside potential could prevail. Economic Calendar Analysis On Thursday, the US Final GDP will be published at 12:30 GMT. This event could
The surge of the yellow metal has reached the 1,525.00 level, from which it bounced off. On Tuesday, a consolidation by trading sideways was taking place. Namely, the commodity price fluctuated between the 1,520.00 and 1,525.00 levels. Economic Calendar Analysis On Thursday, the US Final GDP will be published at 12:30 GMT. This event could cause a minor move. The week will end
On Monday, gold reached the 1,520.00 level and ended trading in the range between 1,485.00 and 1,510.00. In general, if the rate would manage to push through the resistance of the 1,520.00 level, it could once more test the 1,550.00 level, as it did at the start of the month. Economic Calendar Analysis On Thursday, the US Final GDP will be published at
On Friday, Gold had surged slightly, but it had not broken out of the trading range that forces the metal to bounce around the 1,500.00 level. During the early hours of the day's London trading, it was expected that gold would test the resistance of the 1,510.00 level, which is the upper boundary of the range, in which the metal's price
Gold was the most impacted asset by the Federal Reserve rate cut. However, by the middle of Thursday's London trading the metal's price was back at 1.500,00. The metal was set to face resistance at that level. The level on its own provided psychological resistance. In addition to that, the 55, 100 and 200-hour simple moving averages were located at 1,500.00. Economic
Gold continues to trade in limbo around the 1,500.00 level. As it has done so, all of the hourly simple moving averages that are used by Dukascopy Analysts have reached the 1,501.35 level. In general, the metal was expected to continue to trade sideways until the Federal Reserve announcement of today. Economic Calendar Analysis On Wednesday, September 18, the FOMC Statement and Economic
On Tuesday, gold price fluctuated below the 1,500.00 level. The commodity price had also declined below the technical resistance of the 55 and 100-hour simple moving averages. Due to the metal being located below the cluster of resistance, a scenario of a decline was being favoured. Economic Calendar Analysis On Wednesday, September 18, the FOMC Statement and Economic Projections releases are expected at
Gold started the week's trading with a gap up. Namely, it started trading in a range between 1,500.00 and 1,512.00. On Monday morning, the rate was getting squeezed in between the 55 and 200-hour simple moving averages, respectively, at 1,501.50 and 1,510.75. Economic Calendar Analysis On Wednesday, September 18, the FOMC Statement and Economic Projections releases are expected at 18:00 GMT. Note that
During today's morning, the XAU/USD exchange rate was trading near the psychological level at 1,505.00. Given that gold squeezed by the 55- and 100-hour moving averages, the price for the commodity could consolidate in the short term. Economic Calendar Analysis Today, the US Retail Sales data will be published at 12:30 GMT. Next week there will not be many events that could have
During today's morning, the XAU/USD exchange rate was trading near the psychological level at 1,505.00. Given that gold is supported by the 55- and 100-hour moving averages, the price for the commodity could go upwards. Economic Calendar Analysis This week, there will be a couple of data releases from the US that could have an impact on the price for gold. Today, the
The yellow metal has traded between the support of the 1,485.00 and 1,500.00 levels. The commodity price was consolidating after the decline that has been occurring since September 4. Meanwhile, the resistance of the hourly simple moving averages was approaching. Economic Calendar Analysis This week, there will be a couple of data releases from the US that could have an impact on
A break out has occurred on gold's charts. The metal pierced the lower trend line of an ascending channel pattern due to the resistance of the 55-hour simple moving average. The SMA pushed the rate through the support line of the channel up pattern. The decline resulted in the metal's price reaching below the 1,490.00 level. Economic Calendar Analysis This week, there will
On Monday morning, the yellow metal's price continued to test the lower trend line of a channel up pattern near 1,505.00. The rate was expected to get squeezed between the described trend line and the resistance of the 55-hour simple moving average that was sharply heading down. Economic Calendar Analysis This week, there will be a couple of data releases from the US
Yesterday, the price for gold tumbled to the 1,510.00 level. During today's morning, the XAU/USD exchange rate was trading at the 1,505.00 mark. It is likely that yellow metal could consolidate against the US Dollar in the short run. Economic Calendar Analysis Today, US employment data will be published. The event will have three numbers being revealed – the Average Hourly Earnings, Non-Farm
Yesterday, the price for gold re-tested the psychological level at 1,555.00. During today's morning, the XAU/USD exchange rate made a reversal south. Note that yellow metal could gain support of the 55-, 100- and 200-hour SMAs. Economic Calendar Analysis This week there are a couple of US data releases on the economic calendars that are shown as high impact. Today, the US ADP Non-Farm
Yesterday, the price for gold re-tested the psychological level at 1,550.00. During today's morning, the XAU/USD exchange rate declined to the support cluster formed by the 55-, 100- and 200-hour SMAs. If it holds, yellow metal could add to gains against the Greenback. Economic Calendar Analysis This week there are a couple of US data releases on the economic calendars that are shown
As apparent on the chart, yellow metal is still squeezed by the 100- and 200-hour moving averages. Thus, it is likely that gold could consolidate against the US Dollar within the following trading session. If the given resistance does not hold, bulls could prevail in the market.Economic Calendar Analysis This week there are a couple of US data releases on the economic
As apparent on the chart, yellow metal is squeezed by the 55-, 100- and 200-hour moving averages.Thus, it is likely that gold could consolidate against the US Dollar within the following trading session. Economic Calendar Analysis This week there are a couple of US data releases on the economic calendars that are shown as high impact. On Tuesday, at 14:00 GMT the US
The yellow metal's price has declined, as the US Dollar is gaining value. The decline of the bullion was stopped on Thursday by the combined support of the 200-hour SMA and a pivot point at 1,521.60. Economic Calendar Analysis This week's data releases have ended. See the reports in the Fundamental Analysis section. In regards to the next week, there are a couple of
On Thursday morning, gold tested the 1,550.00 level, as it was expected on Wednesday, In general, the metal was expected to trade sideways below 1,550.00 until the hourly simple moving averages push it into the historical high level of 1,555.00. Economic Calendar Analysis On Thursday, at 12:30 GMT the US Preliminary GDP might impact the price of gold. XAU/USD short-term forecast In general,
On Wednesday, the yellow metal's price found support in the 55-hour simple moving average at 1,535.00. In general, the metal's price is expected to test the resistance of the 1,545.00 level, which kept the price down on Tuesday. Economic Calendar Analysis On Thursday, at 12:30 GMT the US Preliminary GDP is scheduled to be published. XAU/USD short-term forecast The yellow metal is expected