During Monday's morning, the price for gold was consolidating at the 1,425.00 level. Given, that the XAU/USD exchange rate is squeezed by 55- and 100-hour SMAs, it it likely, that it could trade sideways in the short term. Economic Calendar Analysis at 12:00 GMT On Thursday, the US Core Durable Goods Orders data will be published at 12:30 GMT. The week will end
Gold has reached a new high level. The 1,450.00 mark has been pierced. In general, most technical levels have been left behind. The metal's price faces only monthly pivot points. Next one on Friday morning was located at the 1,464.00 level. Moreover, the August 2013 high level has been pierced. Next historical level is the May 2013 level at 1,488.40. Economic Calendar Analysis
The support found in the 1,400.00 level was enough to cause a surge up to the 1,430.00 level. On Thursday, the yellow metal's price was declining after touching the 1,430.00 mark. By the middle of the day's London trading session, the commodity price was finding support in the 1,420.00 level. Economic Calendar Analysis Gold this week was affected only by one macroeconomic data
The yellow metal's price has declined below the hourly simple moving averages. Moreover, on Wednesday, gold almost touched the 1,400.00 level, as it was outlaid in the hourly chart's analysis second scenario on Tuesday. Economic Calendar Analysis Gold this week was affected only by one macroeconomic data release. Namely, the US Retail Sales and Core Retail Sales that were published on
On Tuesday, the yellow metal continued to trade in the previous day's trading range. The metal could be observed to be kept up by the technical support of the 55, 100 and 200-hour simple moving averages. Economic Calendar Analysis Gold prices this week can be affected by one data release. US Retail Sales will be published on Tuesday at 12:30 GMT. For more
The hourly simple moving averages managed to hold last week and caused a surge late on Friday. Although, the surge was stopped by the psychological resistance of the 1,420.00 level. In general, this level was expected to be tested again. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into
On Friday, gold remained near previous day's trading levels, as its decline was stopped by the 55, 100 and 200-hour simple moving averages near the 1,405.00 level. In general, the SMAs were expected to push the metal's price up. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic
Gold broke out to the upside out of the previously drawn triangle pattern. The surge was caused by a drop of the US Dollar. Namely, the announcement made to the US Congress by the head of the Federal Reserve revealed that rate cuts are upcoming. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came
On Wednesday, the yellow metal was testing the resistance of the 55-hour simple moving average, which was located at midday at 1,396.35. In general, the commodity price was expected to get squeezed in between the SMA and a technical support level above the 1,385.00 level. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came
The yellow metal declined, as forecast. Namely, the monthly pivot point just above the 1,385.00 level was reached on Tuesday. The decline was started, as previously forecast, by the resistance of the hourly simple moving averages. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came out better-than-expected of 244K compared with the forecast of
On Monday, gold was testing the resistance of the hourly simple moving averages just below the 1,410.00 level. In general, it was expected that the commodity price will decline, as it has not technical support as low as 1,385.00. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data , which came out better-than-expected of 244K compared
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