The price for gold has managed to break the 2,600.00 level's resistance. By late Monday's trading, the commodity price had reached the 2,635.00 level. In the meantime, it was spotted that the 2,620.00 level was providing support. Economic Calendar Analysis On Tuesday, the CB Consumer Confidence index might impact the markets via an adjustment of the US Dollar's value at 14:00 GMT.
During the Federal Reserve rate cut and the follow-up press conference, the price of gold confirmed the 2,600.00 mark as resistance and then support at 2,550.00. After the fundamental volatility, the price recovered and by late Thursday was testing the resistance of the 2,590.00/2,600.00 range. Economic Calendar Analysis On Friday, watch the Japanese Yen during the Asian session. The Bank of Japan
The price for gold almost reaches the 2,600.00 mark on Friday. However, the price has clearly encountered resistance at 2,590.00. Meanwhile, support is found at 2,575.10/2,577.50. In general, the commodity is consolidating before making the next move. Economic Calendar Analysis This week, the top event of them all is scheduled. On Wednesday, at 18:00 GMT, the US Federal Reserve is set to
Gold has finally managed to break above 2,530.00. A new high has been booked at 2,555.00, which is acting as resistance. Meanwhile, the price is finding support at 2,545.00. Economic Calendar Analysis This week's notable events are over. XAU/USD short-term forecast An extension of the ongoing surge could encounter resistance in any of the round price levels. However, it is most likely that
The price of gold has once again failed to pass above the all-time-high level range near 2,530.00. The price has bounced off the resistance and revealed a new support range at 2,485.00. This range has caused a recovery of the metal up to 2,500.00. Economic Calendar Analysis This week, on Wednesday, the markets will move at 12:30 GMT due to the release
The price of gold passed all marked support levels and a broader decline was expected. However, the price once again has found support in the 2,470.00 level. A zone has been marked near this level. On Thursday, the price had recovered and returned above the 2,500.00 mark. It was assumed that the rate could soon reach the 2,530.00 high level zone. Economic
On Monday morning, the price of gold shortly traded below the support range that surrounds the 2,500.00 mark. However, by midday, the price was back to fluctuating around the round price level. Economic Calendar Analysis Notable events start on Tuesday. At 14:00 GMT, the ISM Manufacturing PMI data is set to be published and might impact the US Dollar. On Wednesday, at 14:00
Since Monday, the metal's price has made four attempts to pass the 2,530.00 level. The attempts failed. Meanwhile, it was spotted that the hourly simple moving averages are failing to impact the metal. However, the commodity price keeps finding support near 2,500.00. The prior potential scenario descriptions remain valid. Economic Calendar Analysis Next week, notable events start on Tuesday. At 14:00 GMT, the
This week, the metal's price has made two attempts to pass the 2,530.00 level. Both attempts failed. Meanwhile, it was spotted that the hourly simple moving averages are failing to impact the metal. However, the commodity price keeps finding support near 2,500.00. Economic Calendar Analysis On Thursday, the US Preliminary GDP data publication might move the markets. The market consensus is taht
Despite declining on Thursday, the price for gold eventually found support in the 2,470.00 mark. Since then, a recovery has taken place. On Friday, the speech by Jerome Powell added strength to the recovery. By mid-Monday, the commodity price was approaching the all-time high levels near 2,530.00. Economic Calendar Analysis This week, the markets might move due to various publications. On Tuesday,
In general, the price for gold continues higher, as it surges step by step. Namely, a new high is reached then the price retreats to find support in a prior high level, before resuming the surge up to a higher high level. Economic Calendar Analysis The financial markets might move on Wednesday, at 18:00 GMT. At that time, the Federal Reserve Meeting
The 2,500.00 mark was broken on Friday. However, the event has been followed by a decline of the commodity price. Moreover, the decline has reached below 2,500.00. Economic Calendar Analysis The financial markets might move on Wednesday, at 18:00 GMT. At that time, the Federal Reserve Meeting Minutes will be published. The minutes is a protocol of the prior meeting held by
The price for gold has finally hit the 2,500.00 mark. The commodity reached the new high level by breaking the resistance ranges of prior high levels that had kept the price down since August 11. However, note that the 2,500.00 mark is acting as resistance. The round price has caused a decline, which resulted in the metal looking for support
New resistance and support ranges have been marked on the chart. These ranges have impacted the commodity price throughout August. Most recently, the metal has retreated to the 2,440.00 level, after a third failed attempt to approach the all-time-high levels. Economic Calendar Analysis This week, on Tuesday, watch the publication of the United States Producers Price Index at 12:30 GMT. This data
The price of gold is testing the resistance of the 2,450.00 mark. It appears that there is a sort of resistance zone at 2,450.00/2,460.00. Economic Calendar Analysis This week, on Tuesday, watch the publication of the United States Producers Price Index at 12:30 GMT. This data release will provide an insight into US inflation situation. Note that producer price increases are usually
Gold has managed to recover and surged to the 2,430.00 level. During the recovery, it was observed that the metal mostly ignored the hourly simple moving averages. Round price levels have a larger impact on the commodity price. Economic Calendar Analysis There are no more notable events scheduled for this week, XAU/USD short-term forecast An extension of the ongoing recovery is expected to
The price of gold declined due to the broad asset sell off. However, the price eventually found support in the 2,370.00 level. By mid-Wednesday, it has once again returned to trade near 2,400.00. Economic Calendar Analysis This week lacks notable events. The only event that could cause a market reaction is the publication of the weekly US Unemployment Claims on Thursday at
The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading of
The price for gold managed to break the 2,400.00 level and the three hourly simple moving averages. The event was followed by a surge to the 2,450.00 level, which was eventually broken. Meanwhile, round price levels were observed as acting as support and resistance. The surge coincided with a broader US Dollar's weakness that was caused by US Federal Reserve rate
In general, the situation has not changed over the weekend. The price for gold is testing the resistance of the 2,373.70/2,400.00 range. Economic Calendar Analysis On Tuesday, the combination of the US CB Consumer Confidence index and the JOLTS Job Openings might create a move of the USD that would impact the financial markets. On Wednesday, market participants are set to ignore
Despite passing above simple moving averages, the price for gold experienced a sharp decline on Wednesday afternoon. The price declined to the support of the 2,373.70/3,400.00 range. Afterwards, on Thursday afternoon, the publication of the much higher than expected US GDP caused a drop of the commodity price below the range. Moreover, the range was confirmed as resistance and the
The 2,390.00/2,400.00 range eventually held and provided support to the price for gold. However, it was pierced at mid-Tuesday. Due to this reason the range is being adjusted to 2,383.70/2,400.00. On Wednesday, the recovery faced the resistance of the 100-hour simple moving average and the 2,420.00 level. Economic Calendar Analysis On Thursday, the US Advance GDP might impact the markets via an
The price for gold broke above the prior all-time-high level. However, the follow up surge eventually ended near the 2,480.00 mark. The 2,481.00/2,483.85 range was confirmed as resistance. Since these events, the price for gold has established a channel down pattern that has guided the price back below 2,400.00. Meanwhile, Dukascopy traders have remained 75% short since the start of
The price for gold found enough support in the 2,350.00 to start a recovery. Afterwards, the price for Gold gained additional strength from the US CPI. By Monday, July 15, the commodity price was heading to the 2,450.00 level which mark's the all-time-high. Economic Calendar Analysis On Tuesday, watch the publication of the US Retail Sales at 12:30 GMT. The markets