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
A fundamental surge has occurred. Due to another Trump tariff announcement the USD dropped like a brick. As a result of that commodity prices have jumped. Gold touched the 1,300.00 level on Friday. Economic Calendar Analysis The week will end with the Canadian GDP publication at 12:30 GMT. This event has caused moves from 21 to 64 pips since December. Click Here: Economic
Gold has continued to trade with high volatility. By the middle of Thursday's trading session gold prices had declined below most close by technical support levels. In general, the rate was expected to continue its decline until it reaches the support of a 38.20% Fibonacci retracement level at 1,273.68. Economic Calendar Analysis On Thursday, at 12:30 GMT the US Preliminary GDP will be
Gold has increased its trading volatility. Namely, it is moving more sharply with larger hourly candles. In regards to the future, the metal is still expected to test the resistance of the monthly pivot point at 1,287.27. Economic Calendar Analysis This week there are three notable events on the economic calendar that traders will watch. On Wednesday, the markets will watch the Bank of
Gold failed at its second attempt to pass the resistance of the monthly pivot point at 1.287.27. The event was followed by a decline, which was stopped by the 200-hour simple moving average. In regards to the near term future, another attempt at the resistance of the pivot point is expected. Economic Calendar Analysis This week there are three notable events on the
The previous forecast did not became reality, as the metal's price did not reach the support of the 1,280.00 level. Instead, the 1,282.00 was strong enough to provide the needed support for the commodity price to make another attempt to pass the resistance of the monthly pivot point at 1,287.27. Economic Calendar Analysis This week there are three notable events on the economic
As expected, gold surged on Thursday. The upwards move occurred in a sharp surge at the middle of the day. Moreover, the metal's price gained more than it was expected. On Friday, the metal had bounced off resistance and declined down. The decline was expected to reach the 1,280.00 level. Economic Calendar Analysis The week will end with the US Durable Goods Orders
After trading sideways for two consecutive days and consolidating its decline, on Thursday gold broke resistance levels and signalled a surge. Namely, the 55 and 100-hour simple moving averages were broken by the middle of London's trading. The rate had no technical resistance levels as high as 1,284.00. Economic Calendar Analysis The week will end with the US Durable Goods Orders and Core
Gold's price has retraced upwards to the resistance of the 55-hour simple moving average near the 1,275.00 level. Although, the price was still expected to decline in the near term future. Economic Calendar Analysis Late on Wednesday, the top event of the month will occur. The US FOMC Meeting Minutes will be released at 18:00 GMT. On the EUR/USD it has caused moves
The decline of gold's price continues. On Tuesday, the 1,270.00 level was reached. Moreover, the decline was showing no signs of stopping I the medium and long term. Economic Calendar Analysis This week's notable data will begin on Wednesday. At 08:30 GMT the UK CPI will be published. This event has caused since December 2018 moves from 11.4 to 23.1 base points on
Gold prices have fallen more than expected. On Friday, the metal had also passed the technical levels near the 1,285.00 level. In general, the metal was expected to continue its decline. Economic Calendar Analysis All of the notable data sets of the week have been published. You can watch all of the data covers on the Dukascopy Webinars YouTube channel. Click Here: Dukascopy Webinars
Gold traded sideways on Thursday morning. Afterwards, around 12:00 GMT the metal approached the support of the 1,294.00 level, where the 100-hour simple moving average was located at. If that level would get passed, the 1,290.00 level could be reached. Economic Calendar Analysis All of the notable data sets of the week have been published. You can watch all of the data covers
The yellow metal had not declined much in the aftermath of reaching the 1,300.00 level. In general, it had consolidated its gains by slightly retracing down to 1,298.00. In regards to the near term future, the consolidation should be followed by a surge. Economic Calendar Analysis During this week there will be a couple of macroeconomic events, which are notable enough to impact
Gold jumped during the second half of Monday's London session due to tariffs being put on the US by China. In general, it will decrease the total US exports to China, which in fact decreases the demand for the US Dollar, in which the goods are bought. As the USD falls, all other currencies and commodities gain value against it. Economic