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
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