Note: This section contains information in English only."Gold is likely to recover to above $1,300 an ounce next year as a pickup in physical demand counters more potential U.S. rate increases, a Reuters poll at an industry event showed."
– based on Reuters
Pair's Outlook
[ANNOUNCE]The yellow metal battled resistance on Wednesday morning, as it faced the first weekly resistance level at 1,261.62.[/ANNOUNCE] Previously, the bullion surged from the weekly PP at 1,253.84 to the 200-day SMA at 1,265.36. However, afterwards the commodity price moved lower to end the day's trading session just below the before mentioned first weekly resistance level. Although, on early Wednesday morning, the metal attempted to break through the SMA once more, it failed in breaking past it. Nevertheless, it is most likely that gold will surge in the medium term, as the SMA moved northwards.
Traders' Sentiment
Traders remain bullish on the metal, as 56% of open positions are long. In the meantime, 63% of pending commands are set up to buy the bullion.
Wed, 19 Oct 2016 06:24:20 GMT
Source: Dukascopy Bank SA
– based on Reuters
Pair's Outlook
[ANNOUNCE]The yellow metal battled resistance on Wednesday morning, as it faced the first weekly resistance level at 1,261.62.[/ANNOUNCE] Previously, the bullion surged from the weekly PP at 1,253.84 to the 200-day SMA at 1,265.36. However, afterwards the commodity price moved lower to end the day's trading session just below the before mentioned first weekly resistance level. Although, on early Wednesday morning, the metal attempted to break through the SMA once more, it failed in breaking past it. Nevertheless, it is most likely that gold will surge in the medium term, as the SMA moved northwards.
Traders' Sentiment
Traders remain bullish on the metal, as 56% of open positions are long. In the meantime, 63% of pending commands are set up to buy the bullion.