The price for gold started the week's trading with a gap up and piercing the resistance of the 1,913.50/1,922.00 zone. However, no less than an hour later, the commodity price returned to trading below the 1,922.00 mark. Moreover, during the mid-hours of Monday's European trading, the commodity price retreated to fluctuate between the support of the 200-hour simple moving average
The price for gold has been recently trading around the 1,900.00 mark in a 40 US Dollar range. Namely, the commodity price fluctuates between the support of the 1,880.00 level and resistance at 1,920.00. Note that the price is capable of shortly piercing these levels. Due to that reason support and resistance zones have been marked at 1,878.00/1,884.00 and 1,913.50/1,922.00. Economic
As expected, the price for gold reached the 1,900.00 mark, which was shortly pierced. Afterwards, at midnight to Friday, the commodity price retreated to look for support in the 1,890.00 level. Meanwhile, the 50-hour simple moving average had reached the support zone at 1,880.00/1,882.90. Economic Calendar Analysis During next week, there are various types of events, which could impact different currencies. However,
The price for the yellow metal has passed the resistance of the 1,880.00 mark. Moreover, the commodity has retrace down and confirmed support at 1,882.90. Due to that reason the 1,880.00/1,882.90 zone has been marked as support. At the start of Thursday's US trading hours, the price was approaching the 1,900.00 mark. In the meantime, it was spotted that the bullion
The price for gold found support in the 100-hour simple moving average and the 1,845.00 level. Afterwards, a failed attempt at surging occurred due to the 50-hour simple moving average. However, the 1,850.00 mark acted as support and a following surge managed to reach above the 50-hour SMA and reach the 1,870.00 mark. Economic Calendar Analysis On Thursday, the US Unemployment Claims
The surge of the yellow metal's price eventually found resistance in the 1,880.00 mark. The price was testing the resistance of the round price level until the Russian government announced that it would move a part of its forces away from the Ukrainian border. This resulted in risk on sentiment and a drop of the price of the metal's price
On Friday, the US government announced that Russia is about to invade Ukraine. The news caused a major run to safety. The price for gold jumped up to the 1,865.00 level. On Monday, the price declined and revealed that there is a support zone at 1,851.30/1,851.60. In the meantime, it was spotted that the surge of the price for gold has
The US CPI caused gold price volatility, which occurred in the 1,822.10/1,842.10 range. As the markets calmed down and took in the fundamental news, the price for gold retreated to trade below the 1,830.00 mark. At mid-day on Friday, the commodity price was located between support of the 1,825.00 mark and the 100-hour simple moving average and the resistance of the
On Tuesday, the price for gold eventually reached the 1,825.00 level and passed it. On Wednesday, the rate had already confirmed the 1,825.00 as support and pierced the resistance of the summer high level zone at 1,830.00. Economic Calendar Analysis On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set
The price for gold surged late on Monday. However, the price did not reach the 1,825.00 mark, as the surge ended near the 1,823.00 level. On Tuesday, the commodity retraced downwards, as the metal was looking for future direction. Economic Calendar Analysis On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT
Despite experiencing a sharp dip due to the US Employment data sets on Friday at 13:30 GMT, the price for gold returned to testing the resistance of the 1,815.00 mark. On Monday, the price passed above the 1,815.00 mark. Economic Calendar Analysis On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT
Despite piercing the resistance of the 1,810.00 mark, the price for gold declined. By the middle of Thursday's trading, the price for the yellow metal was located in the range between 1,800.00 and 1,805.00 levels. In the meantime, it was observed that the price was ignoring the 50 and 100-hour simple moving averages. Economic Calendar Analysis On Friday, the US is
The price for gold continues to test the resistance zone below the 1,810.00 mark. Meanwhile, it was observed that the 1,795.00 mark was providing support. At mid-Wednesday, the price was located in the resistance zone. Due to that reason, previous forecast scenarios remain unchanged. Economic Calendar Analysis Thursday will end with the US ISM Services PMI, which might cause minor volatility. On Friday, the
On Tuesday, the yellow metal's price continued to recover, as it approached the zone, which is located below the 1,810.00 mark. The zone acted as support in mid-January. During Tuesday's trading, it appeared that the zone was acting as resistance. Economic Calendar Analysis On Tuesday, the US ISM Manufacturing Purchasing Managers Index release at 15:00 GMT could cause USD moves. On Wednesday, at
The decline of the yellow metal, which was caused by the Federal Reserve, occurred in a narrow descending channel pattern. During late hours of Friday's trading, the commodity broke the pattern and started a recovery. By the middle of Monday's trading, the price had passed the 50-hour simple moving average and reached the 1,800.00 mark. Economic Calendar Analysis On Tuesday, the US ISM
The decline of the yellow metal has reached below the 1,785.00 level. In the meantime, it has been spotted that the decline of the yellow metal's price has been occurring in a narrow channel down pattern. Economic Calendar Analysis XAU/USD short-term forecast If the bullion continues to decline, it could do so in the borders of the pattern. A potential decline of
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. By the middle of Thursday's trading, the price for gold had reached the 1,810.00 mark
At the start of Tuesday's US trading, the price for gold jumped above the 1,850.00 mark. The event marked the rate reaching November levels. Meanwhile, take into account that the price for gold is set to react to the Federal Reserve events on Wednesday at 19:00 GMT. The announcements are expected to impact all markets. Economic Calendar Analysis XAU/USD short-term forecast If the
Despite being pierced, the 1,815.00 mark provided enough support to the yellow metal's price on Thursday for a surge to begin. The surge eventually made an attempt to approach the 1,830.00 summer high level zone, but failed, as it bounced off the 1,829.30 level. By the middle of Friday's trading, the price had retreated below the 1,825.00 level. Meanwhile, it
On Wednesday, the price for gold eventually passed the resistance of the 1,825.00 level. However, the price did not reach the 1,830.00 mark and the summer high level zone. The price bounced off the 1,828.45 mark and started a decline. By the start of Thursday's US trading, the decline had passed the support of the 50-hour simple moving average near 1,820.00. Economic
The price for gold surged faster than expected, as the bullion broke through the upper trend line of the channel up pattern and reached the 1,823.50 level on Tuesday. Afterwards, a consolidation down to the 1,815.00 level occurred. The 1,815.00 acted as support and started a surge. On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price
The price for gold eventually managed to pass the resistance of the 100-hour simple moving average and the 200-hour simple moving average near 1,800.00 and 1,805.00. In the meantime, a minor channel up pattern was spotted. The pattern had been guiding the price up since the start of January 7 trading. Economic Calendar Analysis The top data set of the week will
At mid-day on Monday, the price for gold broke the resistance of the 1,800.00 mark and shortly traded above this level. However, the surge was stopped and reversed by the 100-hour simple moving average at 1,802.65. Economic Calendar Analysis The top data set of the week will be released on Wednesday at 13:30 GMT. At that time, the US Consumer Price Index
On Friday, at 13:30 GMT, the price for Gold increased volatility due to the US monthly employment data showing contradicting information, as less jobs were found, salaries rose and unemployment rate decreased. The price for gold fluctuated between the 1,785.00 and 1,795.00 levels. However, both resistance and support were shortly pierced, indicating at their weakness. After the release, the price for