Gold punches through 2,050.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The US CPI publication bounced the price for gold in the previously described range of 2,025.00/2,040.00. However, after the event, the price declined as low as the 2,015.00 mark, before support was found. The follow up recovery on Friday managed to reach above the 2,050.00 mark.

Economic Calendar Analysis



On Friday, at 13:30 GMT, inflation at the producer level will be revealed, as the US Producer Price Index will be published. It is considered that producer level inflation eventually turns into consumer inflation, as producers increase consumer goods prices.

XAU/USD short-term forecast

The ongoing surge could encounter resistance in the 2,060.00 level, prior to the commodity reaching the resistance range near 2,075.00.

On the other hand, a potential decline back below 2,050.00 might look for support in the 2,045.00 level and the combination of the 2,040.00 level and the 200-hour simple moving average. Further below, note the 50 and 100-hour simple moving averages near 2,030.00.

Hourly Chart

XAU/USD daily charts review

On the daily candle chart, most recently the 2021 and 2022 high level range at 2,065.30/2,082.80 has been ignored by the metal.

Meanwhile, take into account the approaching 50-day simple moving average. It appears to have acted as support throughout this week.

Daily Candle Chart


Gold traders remain short

On Tuesday, 62% were short, as that proportion of open position volume was in short positions.

In the meantime, pending orders in the 1000-pip range around the current price were 70% to sell the metal.

During Wednesday's trading, positions were 60% short and orders were 73% to sell.

On Friday, the positions were 58% short. Pending orders were 67% to sell.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscrever
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre as opções binárias do Dukascopy Bank / Plataforma de negociação Forex, SWFX e outras informações relacionadas com Trading,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para saber mais sobre a plataforma de Trading / Trading de Crypto/ CFD / SWFX e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para saber mais sobre o programa de Introdutor de Negócios e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.