There are a number of important updates to note in regards to the price of Gold. First of all, the price has pierced the resistance line of the recent June high levels. Secondly, the price has revealed that it is surging in a channel up pattern. In addition, the simple moving averages are left below the bullion. Economic Calendar Analysis On Tuesday,
On Wednesday, the yellow metal passed the resistance of the 1,765.00 level. Afterwards, the commodity price one by one passed the technical resistance of the 55, 100 and 200-hour simple moving averages. By the middle of Thursday's European trading hours, the price had almost reached the 1,780.00 level. Economic Calendar Analysis On Thursday, the US weekly Unemployment Claims at 12:30 GMT could cause
As expected, the yellow metal's price has broken out of the borders of the descending triangle pattern. It occurred in a sharp move to the 1,751.30 level. Afterwards, a retracement back up to the 1,765.00 mark occurred. During the early Wednesday's trading hours, the pair had declined to the 1,755.00 level. Economic Calendar Analysis On Thursday, the US weekly Unemployment Claims at 12:30
The yellow metal has continued to respect the support zone of the previously described descending triangle pattern. However, on Tuesday the 55 and 100-hour simple moving averages near 1,780.00 started to provide resistance. In the meantime, the 200-hour SMA had reached the triangle. Economic Calendar Analysis On Thursday, the US weekly Unemployment Claims at 12:30 GMT could cause a minor USD move. Later
Starting the week, analysts spotted a descending triangle pattern on the yellow metal's hourly candle chart. The price has been trading between a support zone at 1,770.00/1,775.00 and a descending trend line since June 21. In theory, the commodity price would trade in the pattern until a break out from it occurs. Economic Calendar Analysis This week note the US ISM Manufacturing PMI
In the aftermath of reaching below the 1,800.00 level, the yellow metal's price has been finding support and resistance in round price levels. For example, the 1,760.00, 1,790.00 and 1,770.00 levels have been acting as support and resistance levels. In the meantime, the rate confirmed the 1,800.00 mark as resistance. Economic Calendar Analysis At 13:45 GMT, on Wednesday, Markit is set to publish
On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. The announcement caused a
On Wednesday the yellow metal's price remained below the resistance of the 1,870.00 level. In the meantime, the price was approached by the 55-hour simple moving average, which could push the commodity price down. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail Sales and US Producers Price Indices are expected to be released. On Wednesday, the top event of
On Monday, the yellow metal fulfilled the scenario of reaching the 1,845.00 mark. The 1,845.00 level provided support and caused an immediate recovery, which reached the 1,870.00 level The 1,870.00 level continued to provide resistance into Tuesday. Meanwhile, the 1,850.00 level was providing support. Namely, the price fluctuated in a 20.00 USD range. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the
On Monday morning, the decline of the price for gold continued. In total, since Friday morning, the price had lost almost 2.50%. However, at 10:00 GMT on Monday, it appeared that the price had found support in the June low level just above the 1,855.00 mark. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail Sales and US Producers Price
The XAU/USD exchange rate bounced off a support level at 1875.00 on Thursday. As a result, the yellow metal surged by more than 245 pips or 1.31% against the US Dollar during yesterday's trading session. Economic Calendar Analysis Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon. Click on the
The yellow metal failed to surpass the 55– and 200– hour SMAs on Wednesday. As a result, Gold edged lower by 102 pips or 0.54% against the US Dollar during Wednesday's trading session. Economic Calendar Analysis On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30
The yellow metal plunged by 145 pips or 0.76% against the US Dollar on Tuesday. The decline was stopped by the 55– and 100– hour SMAs during yesterday's trading session. Economic Calendar Analysis On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most likely,
On Monday, the yellow metal surged by 163 pips or 0.87% against the US Dollar. The commodity breached the 55-, 100– and 200– hour SMAs during Monday's trading session. Economic Calendar Analysis On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most likely, all
The yellow metal's price fulfilled a bearish scenario on Thursday, as it passed the 1,890.00 level and sharply dropped to the 1,865.00 level. Moreover, on Friday morning the rate reached the support zone of the mid-May high and low levels at 1,852.25/1,856.50. However, the rate recovered from the 1,852.25/1,856.50 zone. Moreover, at mid-day on Friday the commodity price jumped, as
Gold found resistance in the 1,910.00 mark once again, during early hours of Wednesday's trading. By the middle of the day's trading, the commodity price had reached below the 1,900.00 level. In addition, the price had passed the support of the 55, 100 and 200-hour simple moving averages. Economic Calendar Analysis There is one major notable event to watch this week. The
After reaching above the 1,915.00 level on Tuesday, the yellow metal's price began a decline. During the first part of Wednesday's trading, the price was fluctuating sideways below the resistance of the 100-hour simple moving average. In the meantime, the rate was being approached by the support of the 200-hour simple moving average. Economic Calendar Analysis There is one major notable event
On Tuesday, the price for gold booked a new high level, as the commodity shortly traded above the 1,915.00 level. The price managed to pass the previous May high of 1,913.12. Economic Calendar Analysis There is one major notable event to watch this week. The US Employment data sets on Friday at 12:30 GMT are most likely going to impact the US
On Monday, the price for gold was testing the resistance of the 1,910.00 level. This level caused a decline during the middle of the last week. Economic Calendar Analysis There is one major notable event to watch this week. The US Employment data sets on Friday at 12:30 GMT are most likely going to impact the US Dollar and the price for
The yellow metal declined by 133 pips or 0.70% against the US Dollar on Thursday. The commodity breached the 55– hour simple moving average during yesterday's trading session. Economic Calendar Analysis Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon. Click on the link below to find out more about the
On Wednesday, the yellow metal slumped by 163 pips or 0.86% against the US Dollar. The decline was stopped by the 55– hour simple moving average during Wednesday's trading session. During the early trading hours, the precious metal was trading near the lower line of an ascending channel pattern and could have been set for a breakout. Economic Calendar Analysis Notable events for
During yesterday's trading session, the precious metal soared by 272 pips or 1.46% against the US Dollar. The exchange rate breached the resistance level at 1890.00 on Tuesday. Economic Calendar Analysis At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published. Also on Thursday, the weekly US Unemployment Claims are set to be published at 12:30 GMT. Our
On Monday, Gold edged lower by 133 pips or 0.72% against the US Dollar. A breakout occurred through the lower boundary of an ascending channel pattern during yesterday's trading session. Economic Calendar Analysis At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published. Also on Thursday, the weekly US Unemployment Claims are set to be published at 12:30
The XAU/USD exchange rate fell by 124 pips or 0.66% during Friday's trading session. The decline was stopped by the 100– hour simple moving average on Friday. The previous metal bounced off the lower boundary of an ascending channel pattern during the Asian session on Monday. Economic Calendar Analysis At 12:30 GMT on Thursday, the US Preliminary GDP is set to be published.