The price for gold reached the 1,870.00 level during Tuesday's trading hours. Afterwards, a decline started. During the early hours of Wednesday's US trading, the price was looking for support in the 1,850.00 level. Meanwhile, Dukascopy Analytics marked on the chart the channel up pattern, which has guided the commodity price from the May 16 low level. Economic Calendar Analysis On Wednesday, the
The price for gold has found support in the 50-hour simple moving average. By the middle of Tuesday's trading hours, the SMA had stopped three declines of the metal's price. Economic Calendar Analysis On Wednesday, the rate is bound to move due to the release of the Federal Open Market Committee Meeting Minutes at 18:00 GMT. On Thursday, the US quarterly Preliminary GDP
Gold has managed not only to break the descending channel up pattern and the 1,850.00 mark, but also has confirmed both as support. By the middle of Monday's trading hours, the commodity price had reached the 1,865.00 level. At mid-day, the price appeared to be consolidating by retracing downwards. Economic Calendar Analysis On Wednesday, the rate is bound to move due to
Despite reaching below the 1,810.00 level, the price for gold did not decline. The commodity found support in the 1,807.50 level and recovered to 1,825.00, which acted as resistance. On Thursday morning, the price once again found support in the 1,810.00 level and started a surge that had reached above 1,825.00, by 09:30 GMT. Economic Calendar Analysis This week, notable events are
At mid-day on Tuesday, the resistance of the 1,835.00 level was enough to start a decline of the price for gold. By the middle of Wednesday's trading, the price had reached the 1,810.00 level and was making its second attempt at finding support in it. Economic Calendar Analysis This week, notable events are over. Next week's review is scheduled to be published
The recovery of the price for gold shortly traded above the 1,830.00 mark at mid-day on Tuesday. An ongoing recovery of the commodity had broken the junior channel down pattern's resistance together with two simple moving averages and the 1,810.00/1,817.40 zone. Economic Calendar Analysis This week, notable events are over. Next week's review is scheduled to be published on Monday. XAU/USD short-term forecast
On Monday, the price for gold continued to decline, as the commodity price reached the lower trend line of the channel down pattern, which has guided the metal down since April 18. In addition, it was spotted that the price has been in a smaller scale descending pattern since May 5. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail
At mid-day on Friday, the price for Gold touched the 1,800.00 level, which acted as support and caused a recovery up to 1,820.00. Economic Calendar Analysis On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to make purchases in the market. To see
Since the US Consumer Price Index release volatility decreased, the price for gold has been fluctuating between the 1,850.00 and 1,858.50 level. However, by the middle of Thursday's European trading hours, the price slightly declined, as it reached and found support at 1,845.00. Economic Calendar Analysis On Thursday, at 12:30 GMT, US Producer Price Index and Core Producer Price Index data will
Already prior to the US Consumer Price Index release on Wednesday at 12:30 GMT, the price for hold broke the descending channel pattern by surging and passing the pattern's upper trend line. Afterwards, the price was testing the resistance of the 1,850.60/1,854.50 zone. During the CPI release, the price plummeted, before recovering and shortly trading above 1,854.50. Economic Calendar Analysis On Thursday,
As forecast on Monday, the price for gold has reached the support zone at 1,850.60/1,854.50. The support zone held and caused a retracement back up to the 1,865.00 level and the upper trend line of the descending channel pattern. Economic Calendar Analysis During the week, most attention will be put on the US Consumer Price Index and Producer Price Index data. The
On Friday, gold bounced off the 1,890.00 mark and started a decline. During the second part of Monday's trading, the price had already reached below the 1,860.00 level. In the near term future, a continuation of the decline could look for support in the May low level zone at 1,850.60/1,854.50. Economic Calendar Analysis During the week, most attention will be put on
The resistance of the 1,910.00 mark was enough to force the yellow metal's price into a decline, which shortly pierced the 1,870.00 level, before starting a recovery. However, by late Friday's trading hours, the price did not manage to reach not only above the 1,900.00 mark, but also the 1,895.00 level. Economic Calendar Analysis During the week, most attention will be put
At mid-day on Thursday, the price for gold bounced off the resistance of the 1,910.00 level. By 15:00 GMT, the price had declined to the 1,885.00 level. Economic Calendar Analysis On Friday, the US Dollar and the Canadian Dollar are set to react to the monthly US and Canadian employment data. Among the data will be the employment changes and unemployment rates
On Wednesday, the comments made at the Federal Reserve press conference by the Chairman Jerome Powell caused a drop of the US Dollar's value. On gold price charts it resulted in a move above a resistance zone at 1,872.00/1,878.00 up to the 1,890.00 level. Economic Calendar Analysis On Friday, the US Dollar and the Canadian Dollar are set to react to the
Due to the recent decline of the value of the US Dollar, the price for gold has surged. By the middle of Friday's GMT trading hours, the price had passed two hourly simple moving averages and the resistance zone near 1,910.00. In addition, the commodity has broken the channel down pattern, which guided it since the middle of April. Economic Calendar
As the value of the US Dollar continues to grow, the price for Gold extends its decline. During Thursday's trading hours, the price shortly traded below the 1,880.00 level, before retracing to the resistance of the 50-hour simple moving average near 1,893.00. Economic Calendar Analysis This week's notable events for this pair are over. On Friday, macroeconomic traders might want to look
This week, the price for gold revealed that it has been declining in a channel down pattern. In addition, the commodity faces resistance at 1,907.50/1,911.30. During the second half of Wednesday's trading hours, the bullion had declined and traded below the 1,885.00 mark. Economic Calendar Analysis During the week, minor moves could be created by some data releases. Meanwhile, note that the
The situation on the chart for gold has not changed. Gold continues to find support in the 1,940.00 mark and resistance is provided by the 1,955.00 level and a zone above it. Previous analysis remains relevant. Economic Calendar Analysis There are no more notable events scheduled for this week. Next week's review is set to be published on Monday. XAU/USD short-term forecast In
Gold continues to find support in the 1,940.00 mark and resistance is provided by the 1,955.00 level and a zone above it. Economic Calendar Analysis There are no more notable events scheduled for this week. Next week's review is set to be published on Monday. XAU/USD short-term forecast In the near term future, a potential decline of the price for gold might look
The price for gold failed to reach the 2,000.00 mark during the last week's trading, as it bounced off the resistance of the 1,995.00/1,998.40 zone. Up to the middle of Wednesday's GMT trading hours, the commodity price had passed the support of the 50, 100 and 200-hour simple moving averages and the trend line, which connects the late March and early
Since mid-Tuesday, the price for gold has fluctuated between a support zone at 1,965.70/1,970.00 and resistance at 1,978.50/1,982.00. Meanwhile, the 50-hour simple moving average had caught up to the price. However, the SMA did not provide either support or resistance. Economic Calendar Analysis XAU/USD short-term forecast If the commodity price reaches above 1,982.00 and continues to surge, it might eventually reach the
The recovery of the gold price gradually continues, as on Wednesday the price hit the 1,980.00 mark, which acted as resistance. Meanwhile, it was spotted that the previous resistance zone at 1,965.70/1,970.00 had acted as support. Economic Calendar Analysis On Thursday, 12:30 GMT, the US Retail Sales data and weekly Unemployment Claims are scheduled to impact the value of the US Dollar. Click
At mid-day on Thursday, the yellow metal broke the resistance of the 1,970.00 mark. The event occurred due to the release of the US Consumer Price Index at 12:30 GMT. In the meantime, it was spotted that the rate was respecting the support of the 50-hour simple moving average near 1,950.00. Economic Calendar Analysis During the middle of Wednesday's trading, at 12:30