During today's morning, the XAU/USD exchange rate was trading sideways between the 55-, 100- and 200-hour SMAs. If the given moving averages hold, the rate could continue to trade sideways within the following trading session. Latest Fundamental Event Report Institute for Supply Management released the US ISM Non-Manufacturing PMI data , which came out worse-than-expected of 55.1 compared with the forecast of 56.1. According
During Thursday morning, the price for gold was testing the support formed by the 55-, 100- and 200-hour SMAs, located circa 1,410.00. If the given support holds, a reversal north is expected within the following trading session. Latest Fundamental Event Report Institute for Supply Management released the US ISM Non-Manufacturing PMI data , which came out worse-than-expected of 55.1 compared with the forecast
Yesterday, the XAU/USD exchange rate tried to breach the long-term ascending trend north. During today's morning, the rate reversed south to the psychological level at 1,425.00. Latest Fundamental Event Report Bureau of Economic Analysis released the US Final GDP data, which came out in line with expectations of 3.1%. According to the official release: "The first-quarter percent change in real GDP was the same
Since Monday morning gold has continued to trade sideways in the range between 1,382.50 and 1,395.00. In general, the metal's price was expected to be pushed down by the technical resistance of the 55 and 100-hour simple moving averages. Latest Fundamental Event Report Bureau of Economic Analysis released the US Final GDP data, which came out in line with expectations of 3.1%. According to
Gold dropped like a thrown brick on the announcement that the US and China are restarting trade talks. Namely, risk off sentiment changed to risk on and the USD gained value due to the expected demand for it. By the middle of Monday's trading the metal's price had touched the 1,382.50 level. Latest Fundamental Event Report Bureau of Economic Analysis released the US
The price for gold could not surpass the psychological level at the 1,425.00 mark. Note, that the XAU/USD exchange rate is supported by the 55- and 100-hour SMAs, thus, some upside potential could prevail in the market in the nearest future. Latest Fundamental Event Report Bureau of Economic Analysis released the US Final GDP data, which came out in line with expectations of
The yellow metal stopped its decline near the 1,405.00 level. The event occurred due to a relieve of the overbought pressure, as indicated by the 55 and 100-hour SMAs being above the commodity price. In general, the metal is expected to trade sideways until new fundamental news reveal its future direction. Latest Fundamental Event Report Federal Reserve released the FOMC Statement, where the
Gold has continued to decline on Wednesday. Although, the decline was paused by the 100-hour simple moving average. In regards to the near term future, the commodity price was expected to get squeezed in between the 55 and 100-hour simple moving averages. Latest Fundamental Event Report Federal Reserve released the FOMC Statement, where the US policymakers provided in-depth insights into the economic and
Gold has hit a new high level. Namely, the 1,440.00 level was touched on Tuesday morning. Another important update to note is that the 55-hour simple moving average continued to remain close by below the yellow metal's price. It serves as a good overbought indicators, as the metal retraces back down as soon as the SMA is too far away. Latest Fundamental
On Monday, the yellow metal's price was testing the resistance of the 1,410.00 level. Namely, by the middle of the day the resistance level had managed to stop another surge. In general, it was expected that the 1,410.00 level would be passed as soon as hourly simple moving averages provide support and indicate that the metal has consolidated after the recent
The USD/JPY recovery has been stopped by the resistance of the 55-hour simple moving average. The SMA managed to push the rate down to previous low levels. However, On Monday morning, the resistance of the SMA was being tested. Latest Fundamental Event Report The Federal Reserve released the FOMC Statement, where the US policymakers provided in-depth insights into the economic and financial conditions
Gold has pierced the 1,410.00 level. The surge of the metal continues, as it has reached a high level not seen in years. There are two fundamental reasons for the event. The US Dollar is losing value due to the expectations of the Fed stimulating the economy by doing a rate cut. On the other hand, gold is surging a lot
The Federal Reserve caused a sharp drop of the USD on all charts. Due to that reason the yellow metal surged to the 1,395.00 level by midnight. On Thursday, the commodity price had retreated and was consolidating its previous gains just above the 1,380.00 level. Economic Calendar Analysis There will be no more scheduled events that could cause a sharp move of the
Gold continues to trade with high volatility. After touching the 1,355.00 level on Tuesday, the metal plummeted back down to 1,340.00 in the next hours. In general, wait for the FOMC announcement at 18:00 GMT to find out, where the metal will go in the near future because of changes in the supply of the US Dollar. Economic Calendar Analysis On Wednesday, at
The yellow metal has returned back to the 1,355.00 level. The surge of the metal began as soon as the last hourly simple moving average was reached and the pressure of being overbought disappeared. The metal could reach the 1,360.00 level during the next trading sessions. Economic Calendar Analysis On Wednesday, at 18:00 GMT the Federal Reserve is making its FOMC Statement, Federal
After reaching above 1,355.00 on Friday, gold declined down to the technical support levels near 1,333.67. In general, the commodity was overbought and by retreating back down to the hourly simple moving averages the pressure of being overbought was gone. Economic Calendar Analysis On Wednesday, at 18:00 GMT the Federal Reserve is making its FOMC Statement, Federal Funds Rate and Economic Projections. Afterwards,
The XAU/USD exchange rate has been trading sideways since yesterday. Given, that gold is supported by the 55-, 100- and 200-hour moving averages, it is likely, that some upside potential could prevail in the market. Economic Calendar Analysis On Friday, June 14, the US Retail Sales data will be released at 12:30 GMT. Click Here: US CPI Data Preview XAU/USD short-term forecast On Wednesday,
During Wednesday's morning, the XAU/USD exchange rate was testing the upper boundary of the short-term descending channel at 1,338.00. If the given channel holds, it is likely, that a reversal south could occur within the following trading hours. Otherwise, gold could maintain its growth. Economic Calendar Analysis Today, the US CPI data release will happen at 12:30 GMT. On Friday, June 14, the US
Gold is supported by the 200-hour moving average, currently located at the 1,319.37 mark. Thus, it is unlikely, that some downside could prevail in the market in the short term. However, note, that the XAU/USD rate is also pressured by the 55- and 100-hour SMAs at 1,332.00. Economic Calendar Analysis On Wednesday, June 12, the US CPI data release will happen at
Gold has been consolidating by trading sideways since the last review. It has been trading between 1,330.00 and 1,340.00. In general, the metal could resume its surge as soon as the 100-hour simple moving average approaches the commodity price from below. Economic Calendar Analysis The week will end with the Canadian and US employment data being published at 12:30 GMT. This event consists
After almost touching the 1,345.00 level gold retraced back down to the 55-hour SMA. The SMA, as expected, provided the needed support for the yellow metal to resume the surge. Economic Calendar Analysis On Thursday, all attention will be on the European Central Bank. At 11:45 GMT the Monetary Policy Statement will be published. On the release the EUR/USD has moved from
The surge of Gold continues. The 1,340.00 level was reached by the middle of Wednesday's London session. Moreover, the metal has not technical resistance as high as the 1,360 level. In addition, the 55-hour SMA is rather close by, indicating that the metal is not overbought. Economic Calendar Analysis On Thursday, all attention will be on the European Central Bank. At 11:45 GMT
Gold booked a new high level on Tuesday. Although, it seems like the surge is over, as a consolidating short term decline could be observed by the middle of the day's London trading session. In general, the metal was expected to resume its surge, as soon as the support of a pivot point at 1,320.00 gets strengthened by the 55-hour simple
Gold has continued to surge, as it has reached the levels just below the 1,320.00 mark. In general, if the commodity price surges above the monthly pivot point at 1,319.79, it will have no technical resistance as high as 1,333.00 Economic Calendar Analysis This week will have various data releases and monetary policy announcements occurring. On Monday, the ISM Manufacturing PMI will be