Gold weekly outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Compared to its year-to-date performance, gold underperformed in the previous week, with no significant price movement. Although inflows into gold investment products continued, there was no notable price movement during the week.

Economic Calendar Analysis


No significant price movements are expected this week from macroeconomic data releases.

XAU/USD short-term forecast

In the short term, gold continues to trade sideways within a range of 2622.00 to 2664.00. The 2664 resistance level may be tested this week, and if broken, a move towards the 2720.00 price level is highly plausible.

If rejection of upside price momentum occurs, further price discovery could be to price levels 2600.00 and 2540.00.

Hourly Chart

XAU/USD daily charts review

On the daily candlestick chart, no significant price movement was observed in the previous week. The 30-day RSI indicator suggests that slow upward price pressure towards 2723.6500 may occur if the majority of sellers are not active. Unexpected selling pressure could test price levels of 2605.9500 and 2562.7500.

Daily Candle Chart


Traders take profits



At the moment, there is no significant trading bias in gold. Trader sentiment suggests that sideways action may continue in the short term.

Meanwhile, in the 1000 point range around the latest price, there are only buy orders.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.