The support zone at 1,778.60/1,782.70 held and caused a surge. By the middle of Tuesday's trading, the price for the commodity had broken the resistance of the 50 and 100-hour simple moving averages and the 1,800.00 mark. The target for the bullion appeared to be the resistance zone at 1,812.70/1,815.70 and the 200-hour simple moving average near 1,815.00. Economic Calendar Analysis XAU/USD short-term
This week, the price for gold started trading with a bounce off from the resistance of the 1,800.00 mark. By the middle of Monday's trading, the commodity was approaching the support zone of 1,778.60/1,782.70. Economic Calendar Analysis XAU/USD short-term forecast If the price recovers from the support zone, the bullion could face resistance in the form of the 50 and 100-hour
The yellow metal bounced off the resistance of the 1,875.00 level, on Tuesday. The following decline ended at midnight to Wednesday, as the price found support in the 1,850.00 mark. Note that the price recently has been bouncing between round price levels. By the middle of Wednesday's trading hours, a recovery from the 1,850.00 level was taking place. Economic Calendar Analysis On Thursday,
During Monday's Asian trading hours, the price for gold reached above the November 10 high level, as the price touched the 1,870.00 level's resistance. However, afterwards, the price retraced back down, before appearing to start another attempt to pass the resistance of the 1,870.00 level. Economic Calendar Analysis On Tuesday, at 13:30 GMT, the US Retail Sales and US Core Retail Sales
Since touching the 1,870.00 level on Wednesday, the yellow metal's price has started to trade in the range between the 1,841.80/1,845.00 zone as support and the resistance of 1,865.00/1,870.00. Most recently, the rate found support in the 1,845.00 level and started a surge that was set to reach the 1,865.00 mark. Economic Calendar Analysis Next week, on Tuesday, at 13:30 GMT, the
The retracement from the 1,870.00 level found support above the 1,840.00 mark. Namely, the 1,841.30/1,843.50 zone provided the metal's price with support. By the middle of Thursday's GMT trading hours, the price was once again heading to the 1,870.00 level. Economic Calendar Analysis No more events this week are likely to impact the price of Gold. Next week's event review is set
The price for gold reached the summer high level zone above 1,830.00 in the borders of the channel up pattern. Although, the summer high level zone forced the price into breaking the pattern and retracing to the support of the 50-hour simple moving average. The SMA kept the price up until the US Consumer Price Index data was released. The data
Since the middle of Monday's European trading hours, the price for gold has remained near the 1,825.00 level. Moreover, it appears that the price has been trading almost flat with no volatility. However, from a technical analysis perspective, the sideways trading appears normal, as the rate is consolidating previous gains by remaining flat in the borders of a channel up pattern. Economic
The price for gold has reached above the resistance of the 1,810.00 mark. By the middle of Monday's trading, the price had reached the 1,825.00 level. Meanwhile, a channel up pattern has been spotted on the pair's hourly candle chart. The pattern has been guiding the price since the November 3 drop. Economic Calendar Analysis On Tuesday, the US Producer Price Index and
The sharp surge of the yellow metal found resistance in the 1,800.00 level. By the middle of Friday's trading, the price had made two failed attempts at passing above the 1,800.00 mark. Meanwhile, it could be spotted that the 200-hour simple moving average was providing support near 1,790.00. Economic Calendar Analysis Next week, on Tuesday, the US Producer Price Index and Core
The 1,760.00 support zone held and caused a recovery of the price of gold. The recovery occurred with a consolidating minor decline during the Thursday's Asian trading. However, at mid-day in Europe a sharp surge of the metal started. By 13:00 GMT, the yellow metal had recovered almost 2.00% from the Wednesday's low level. Economic Calendar Analysis On Friday, US statisticians will
At 12:30 GMT, on Wednesday, the yellow metal's price started a drop, which lasted two hours, and gold lost 1.50% against the US Dollar. The move could be attributed to the publication of good US employment data. Namely, the ADP Non-Farm Employment Change was released at 517,000 instead of the forecast 400,000. However, the data was released at 12:15 GMT
The resistance of the 55, 100 and 200-hour simple moving averages failed to keep the metal's price down. The bullion pierced the SMAs. However, it did not result in a follow up surge, as the 1,796.00/1,797.00 zone provided resistance. Since the middle of Monday's trading hours, the price has been fluctuating between the support of the 55-hour simple moving average and
On Friday, the yellow metal's price plunged to the 1,772.35 level, before starting to recover. On Monday, the recovery of the price had retraced to the 1,790.00 level and the previously passed support line of the last week's low levels. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI will be published at 14:00 GMT. On Wednesday, at 12:15 GMT the
On Thursday, volatility was caused by the release of the US Advance GDP. During the volatility, the price for gold once again confirmed the 1,810.00 level as a resistance level. The following decline passed the 55 and 100-hour simple moving averages. By mid-Friday, the price had almost reached the 200-hour SMA at 1,790.20. Economic Calendar Analysis On Monday, the US ISM Manufacturing
The price of gold found enough support in the 200-hour simple moving average to surge and pass the 1,800.00 level together with the 55 and 100-hour simple moving averages, which strengthened the round price level. On Thursday morning, the price was testing the resistance of the 1,805.00 level. Economic Calendar Analysis At 12:30 GMT, on Thursday, the US Advance GDP is expected
On Tuesday, the decline of the yellow metal's price reached the support of the 200-hour simple moving average and pierced it. However, after piercing the SMA, the price recovered to the 1,705.00 level. On Wednesday, the rate once again found support in the 200-hour simple moving average near 1,785.00. Economic Calendar Analysis At 12:30 GMT, on Thursday, the US Advance GDP is expected
After testing the resistance of the 1,810.00 level, the price for gold began a decline on Tuesday. By 15:00 GMT, the decline had shortly traded below the 200-hour simple moving average near the 1,785.00 level. Meanwhile, the price had passed the supporting line of the previously broken channel up pattern. In addition, note that previous week's support levels have been marked
On Friday, at 12:15 GMT, gold suddenly surged broke the channel up pattern and pierced the 1,800.00 level. The following surge stopped at the 1,812.60/1,814.20 zone. At 15:00 GMT, the yellow metal's price plummeted to the support of the broken channel pattern near 1,785.00. Economic Calendar Analysis On Wednesday, at 12:30 GMT, the US Durable Goods Orders and Core Durable Goods Orders
The channel up pattern of the yellow metal's price held, as its lower trend line together with the 55-hour SMA provided enough support to cause a surge. By the middle of Friday's European trading hours, the metal had reached the 1,795.00 level, which started to provide resistance. Economic Calendar Analysis At 13:45 GMT on Friday, the week's notable events will end with
The bullion's price has continued to trade in the channel up pattern. However, it was spotted that on Thursday the price had faced the resistance of the 1,790.00 level. During the early Thursday's US trading hours, the price for gold was fluctuating near the 1,780.00 level, as it was finding support in the 55-hour simple moving average and the lower trend
The sharp recovery of the yellow metal's price turned into a sharp decline, as the price touched the 1,785.00 level. The following decline ended at GMT midnight to Wednesday. During these recent moves a channel up pattern was revealed. The pattern can be drawn by connecting the October 18, 19 and 20 low levels and setting the parallel line at
The rate traded near the 1,765.00 mark throughout Monday. At GMT midnight to Tuesday, the price of gold started a surge. Namely, by 09:30 GMT, the bullion had already almost reached the 1,785.00 level. During the surge, the resistance of the 55, 100 and 200-hour simple moving averages was ignored. Economic Calendar Analysis On Thursday, at 12:30 GMT the weekly US Unemployment
On Monday morning, the slowed down decline of the yellow metal's price reached below the support of the 200-hour simple moving average. The SMA had kept the pair up together with the 1,765.00 mark since early Friday's trading hours. Economic Calendar Analysis XAU/USD short-term forecast If the metal's price declines, it could reach the support of the October low level zone of