Gold 1 OZ (XAU=X) Likely to Weaken if Fed is Dovish

Gold 1 OZ (XAU=X) Likely to Weaken if Fed is Dovish

Gold 1 OZ (XAU=X) Likely to Weaken if Fed is Dovish Gold traders will also be watching Wednesday’s Fed interest rate and monetary policy decisions. A 25-basis point rate cut is widely expected, however, traders will be more interested in how Fed policymakers feel about a December rate cut. Gold futures finished lower for a […]

Gold 1 OZ (XAU=X) rebound off downtrend support – risk remains while below 1522/26

Gold 1 OZ (XAU=X) rebound off downtrend support – risk remains while below 1522/26

Gold 1 OZ (XAU=X) rebound off downtrend support – risk remains while below 1522/26 Gold prices tested a key pivot zone today on the back of the ECB interest rate announcement with price still holding within a near-term descending pattern. These are the updated targets and invalidation levels that matter on the XAU/USD charts this week. In my […]

Gold 1 OZ (XAU=X) Grasps at Support

Gold 1 OZ (XAU=X) Grasps at Support

Gold 1 OZ (XAU=X) Grasps at Support The next couple of weeks bring two highly-awaited Central Bank rate decisions out of Europe and then the US. Both meetings are expected to produce some form of softening and, at this point, there’s likely a portion of that already priced-in to the Euro and the US Dollar. […]

Gold 1 OZ (XAU=X) positioned for further declines

Gold 1 OZ (XAU=X) positioned for further declines

Gold 1 OZ (XAU=X) positioned for further declines The precious metal suffered its biggest daily loss in almost three years on last Thursday, shedding over $40 thanks to the risk-on mood and positive data from the United States. While Gold is positioned for further punishment in the near term, the downside will be capped by global growth […]

Who has the Most Gold 1 OZ (XAU=X)

Who has the Most Gold 1 OZ (XAU=X)

For 5,000 years, gold has proven its status as the ultimate store of value. Today’s investors rush to buy the precious metal at the faintest market uncertainty. Over the past decade, global central banks have joined the gold rush. The volumes of gold gobbled by regulators across the world in 2018 reached the second highest […]

Gold 1 OZ (XAU=X) potentially bearish

Gold 1 OZ (XAU=X) potentially bearish

Gold futures posted a potentially bearish closing price reversal top last week. Although the chart pattern does not indicate a change in the main trend, it does signal that the selling is greater than the buying at current price levels. The catalyst behind the selling pressure was the stronger U.S. Dollar. A steep plunge in […]

ASX 200 Gold 1 OZ (XAU=X) miners have launched into all-time highs

ASX 200 Gold 1 OZ (XAU=X) miners have launched into all-time highs

ASX 200 Gold 1 OZ (XAU=X) miners have launched into all-time highs The ASX 200 gold miners have launched into all-time highs as the gold spot price has soared by more than US$250/oz since May. Coupled with the low interest rate environment and weak Australian dollar, gold producers are in a prime position to make […]

Gold 1 OZ (XAU=X) Investors focus on Federal Reserve’s Economic Policy Symposium in Jackson Hole, Wyoming

Gold 1 OZ (XAU=X) Investors focus on Federal Reserve’s Economic Policy Symposium in Jackson Hole, Wyoming

Gold 1 OZ (XAU=X) Investors focus on Federal Reserve’s Economic Policy Symposium in Jackson Hole, Wyoming Gold prices have been trading sideways the past few days, in line with our gold price weekly trading forecast. But now that the Federal Reserve’s Economic Policy Symposium in Jackson Hole, Wyoming is here, all that could change. Speeches by various […]

Gold 1 OZ (XAU=X) solid resistance at the August high of $1,546.10

Gold 1 OZ (XAU=X) solid resistance at the August high of $1,546.10

Gold 1 OZ (XAU=X) solid resistance at the August high of $1,546.10 Technically, the gold bulls have the solid overall near-term technical advantage. A 2.5-month-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at the August high of […]

Gold 1 OZ (XAU=X) higher with a slide in U.S. Treasury yields

Gold 1 OZ (XAU=X) higher with a slide in U.S. Treasury yields

Gold 1 OZ (XAU=X) higher with a slide in U.S. Treasury yields Gold futures climbed on Tuesday, with a slide in U.S. Treasury yields helping the haven metal recoup more than a third of what it lost a day earlier, when a rally in the U.S. stock market prompted some settling in bullion. Gold for […]

Gold 1 OZ (XAU=X) solid technical resistance $1,546.10

Gold 1 OZ (XAU=X) solid technical resistance $1,546.10

Gold 1 OZ (XAU=X) solid technical resistance $1,546.10 Technically, December gold futures prices closed near mid-range today. The bulls still have the solid overall near-term technical advantage. A 2.5-month-old uptrend is in place on the daily bar chart. There are still no significant, early chart clues to suggest a market top is close at hand. Gold bulls’ […]

Gold 1 OZ (XAU=X) chart pattern suggests investor indecision and impending volatility

Gold 1 OZ (XAU=X) chart pattern suggests investor indecision and impending volatility

Gold 1 OZ (XAU=X) chart pattern suggests investor indecision and impending volatility Gold futures closed lower on Friday, and for a third session, traded inside the extremely wide, $57.20 range on August 13. Usually, this chart pattern suggests investor indecision and impending volatility. In this case, however, it could be a sign that momentum is […]

Gold 1 OZ (XAU=X) solid resistance at $1,600.00

Gold 1 OZ (XAU=X) solid resistance at $1,600.00

Gold 1 OZ (XAU=X) solid resistance at $1,600.00 Gold and silver prices are weaker in early U.S. trading Thursday. Some upbeat U.S. economic data has put some added downside pressure on the metals. The markets are also pausing to see how early trading unfolds in the U.S. stock market, following overnight developments on the U.S.-China trade war front. […]

Gold 1 OZ (XAU=X) solid resistance at $1,600.00

Gold 1 OZ (XAU=X) solid resistance at $1,600.00

Gold 1 OZ (XAU=X) solid resistance at $1,600.00 Technically, the gold bulls have the strong overall near-term technical advantage. A 10-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at $1,600.00. Bears’ next near-term downside price breakout objective […]

Gold 1 OZ (XAU=X) notching a six-year high

Gold 1 OZ (XAU=X) notching a six-year high

Gold 1 OZ (XAU=X) notching a six-year high Technically, the gold bulls have the strong overall near-term technical advantage. A 10-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at $1,600.00. Bears’ next near-term downside price breakout objective […]

Gold 1 OZ (XAU=X) growth worries likely to persist, price could rise further

Gold 1 OZ (XAU=X) growth worries likely to persist, price could rise further

Gold 1 OZ (XAU=X) growth worries likely to persist, price could rise further Goldman Sachs Group upgraded its gold forecast for the first time this year, upping its 3-month and 6-month projections to $1,575 and $1,600 an ounce in light of escalating trade war tensions. Gold prices were solidly above $1,500 an ounce on Monday […]

Gold 1 OZ (XAU=X) solid resistance at $1,550.00

Gold 1 OZ (XAU=X) solid resistance at $1,550.00

Gold 1 OZ (XAU=X) solid resistance at $1,550.00 Gold prices are higher in early U.S. trading Friday, as traders and investors are uneasy again, and looking to the safe-haven metals for cover. December gold futures were last up $3.70 an ounce at 1,513.30. September Comex silver prices were last up $0.059 at $16.995 an ounce. Technically, the gold bulls have […]

Gold 1 OZ (XAU=X) solid technical resistance at $1,550.00

Gold 1 OZ (XAU=X) solid technical resistance at $1,550.00

Gold 1 OZ (XAU=X) solid technical resistance at $1,550.00 Technically, December gold futures prices closed nearer the session low. The bulls still have the strong overall near-term technical advantage. A nine-week-old uptrend is in place on the daily bar chart. There are still no early chart clues to suggest a market top is close at […]

Gold 1 OZ (XAU=X) hitting a six-year high and trading well above the key $1,500.00 level

Gold 1 OZ (XAU=X) hitting a six-year high and trading well above the key $1,500.00 level

Gold 1 OZ (XAU=X) hitting a six-year high and trading well above the key $1,500.00 level Technically, December gold futures prices closed nearer the session high today. The bulls have the strong overall near-term technical advantage. A nine-week-old uptrend is in place on the daily bar chart. There are still no early chart clues to […]

Gold 1 OZ (XAU=X) safe-haven demand has been featured the past few sessions amid an escalating U.S.-China trade war

Gold 1 OZ (XAU=X) safe-haven demand has been featured the past few sessions amid an escalating U.S.-China trade war

Gold 1 OZ (XAU=X) safe-haven demand has been featured the past few sessions amid an escalating U.S.-China trade war Gold prices near steady and pausing in early U.S. trading Tuesday, after scoring another six-year high in overnight dealings. Safe-haven demand has been featured the past few sessions amid an escalating U.S.-China trade war. December gold futures were last […]

Gold 1 OZ (XAU=X) investors are jumping into gold as the U.S.-China trade war has turned into a currency war

Gold 1 OZ (XAU=X) investors are jumping into gold as the U.S.-China trade war has turned into a currency war

Gold 1 OZ (XAU=X) investors are jumping into gold as the U.S.-China trade war has turned into a currency war Fear is surging through financial markets and investors are jumping into gold as the U.S.-China trade war has turned into a currency war. The next target for gold in this environment is clearly $1,500 an ounce, analysts […]

Gold 1 OZ (XAU=X) seeing some renewed interest

Gold 1 OZ (XAU=X) seeing some renewed interest

Gold 1 OZ (XAU=X) seeing some renewed interest The gold market is seeing some renewed interest and is close to unchanged on the day as President Donald Trump fires another salvo in the U.S. trade war with China. Gold price were in solidly negative territory but has cut its losses in initial reaction to the […]

Gold 1 OZ (XAU=X) steady in volatile action in the aftermath of the first U.S. interest rate cut from the Federal Reserve in 11 years

Gold 1 OZ (XAU=X) steady in volatile action in the aftermath of the first U.S. interest rate cut from the Federal Reserve in 11 years

Gold 1 OZ (XAU=X) steady in volatile action in the aftermath of the first U.S. interest rate cut from the Federal Reserve in 11 years Gold prices are trading near steady in volatile action in the aftermath of the first U.S. interest rate cut from the Federal Reserve in 11 years. The yellow metal dropped to […]

Gold 1 OZ (XAU=X) solid technical resistance at the July high of $1,454.40

Gold 1 OZ (XAU=X) solid technical resistance at the July high of $1,454.40

Gold 1 OZ (XAU=X) solid technical resistance at the July high of $1,454.40 Technically, August gold futures prices closed near the session high. The bulls have the firm overall near-term technical advantage and are keeping in place a two-month-old uptrend on the daily bar chart. Gold bulls’ next upside near-term price breakout objective is to […]

Gold 1 OZ (XAU=X) treading water just ahead of big U.S. economic events

Gold 1 OZ (XAU=X) treading water just ahead of big U.S. economic events

Gold 1 OZ (XAU=X) treading water just ahead of big U.S. economic events Gold prices are slightly higher in early U.S. trading Monday. The yellow metal and the silver market are treading water just ahead of big U.S. economic events happening as the week progresses. August gold futures were last up $0.80 an ounce at 1,420.10. September Comex silver prices […]

Gold 1 OZ (XAU=X) trade cautiously lower as selloff may accelerate

Gold 1 OZ (XAU=X) trade cautiously lower as selloff may accelerate

Gold 1 OZ (XAU=X) trade cautiously lower as selloff may accelerate Gold prices traded cautiously lower this past week, making for the worst performance over the course of 5 days since the first week of July. While progress was very gradual, there were a couple of notable technical developments. Together, these threaten the precious metal’s rise […]

Gold 1 OZ (XAU=X) solid technical resistance at the July high of $1,454.40

Gold 1 OZ (XAU=X) solid technical resistance at the July high of $1,454.40

Gold 1 OZ (XAU=X) solid technical resistance at the July high of $1,454.40 Technically, August gold futures prices closed near mid-range again today. The bulls have the firm overall near-term technical advantage and are keeping in place a two-month-old uptrend on the daily bar chart. Gold bulls’ next upside near-term price breakout objective is to […]

Gold 1 OZ (XAU=X) solid resistance at $1,500.00

Gold 1 OZ (XAU=X) solid resistance at $1,500.00

Gold 1 OZ (XAU=X) solid resistance at $1,500.00 Technically, the gold bulls still have the solid overall near-term technical advantage. A two-month-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in August futures above solid resistance at $1,500.00. Bears’ next near-term downside price breakout […]

Gold 1 OZ (XAU=X) price testing wedge-break, trend-line

Gold 1 OZ (XAU=X) price testing wedge-break, trend-line

Gold 1 OZ (XAU=X) price testing wedge-break, trend-line Last week, gold broke out of a multi-week consolidation wedge and looked poised to continue a bit higher following the breakout, but right now we are seeing the initial leg higher wiped away and price working back towards falling inside the wedge. The top-side trend-line of the […]

Gold 1 OZ (XAU=X) resistance at $1,454.40

Gold 1 OZ (XAU=X) resistance at $1,454.40

Gold 1 OZ (XAU=X) resistance at $1,454.40 Technically, August gold futures prices closed near mid-range. The bulls still have the solid overall near-term technical advantage and are keeping in place a two-month-old uptrend on the daily bar chart. Prices last Friday hit a six-year high. Gold bulls’ next upside near-term price breakout objective is to […]

Gold 1 OZ (XAU=X) current levels need to be consolidated before the next leg higher

Gold 1 OZ (XAU=X) current levels need to be consolidated before the next leg higher

Gold 1 OZ (XAU=X) current levels need to be consolidated before the next leg higher I remain bullish for gold in the short-term although current levels need to be consolidated before the next leg higher. The fundamental backdrop for the precious remains positive, with the latest boost coming from dovish commentary from NY Fed vice […]

Gold 1 OZ (XAU=X) solid resistance at $1,442.90

Gold 1 OZ (XAU=X) solid resistance at $1,442.90

Gold 1 OZ (XAU=X) solid resistance at $1,442.90 Technically, the gold bulls have the solid overall near-term technical advantage. A seven-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in August futures above solid resistance at the June high of $1,442.90. Bears’ next near-term […]

Gold 1 OZ (XAU=X) scores a bullish “outside day” up on the daily bar chart

Gold 1 OZ (XAU=X) scores a bullish “outside day” up on the daily bar chart

Gold 1 OZ (XAU=X) scores a bullish “outside day” up on the daily bar chart Technically, the gold bulls have the firm overall near-term technical advantage. Prices today scored a bullish “outside day” up on the daily bar chart. A seven-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective […]

Gold 1 OZ (XAU=X) firm overall near-term technical advantage

Gold 1 OZ (XAU=X) firm overall near-term technical advantage

Gold 1 OZ (XAU=X) firm overall near-term technical advantage Technically, August gold futures prices closed nearer the session low. The bulls still have the firm overall near-term technical advantage and are keeping in place a seven-week-old uptrend in place on the daily bar chart. Gold bulls’ next upside near-term price breakout objective is to produce […]

Gold 1 OZ (XAU=X) prices glitter after Powell comments

Gold 1 OZ (XAU=X) prices glitter after Powell comments

Gold 1 OZ (XAU=X) prices glitter after Powell comments Gold bulls posed another topside push yesterday on the heels of some dovish comments from FOMC Chair, Jerome Powell. This helped Gold prices to push back above the 1400 marker after a two-week pullback from the fresh six-year-highs that were set in late-June. Yesterday’s risk rally was fairly wide-spread, […]

Gold 1 OZ (XAU=X) Powell cited several concerns regarding the U.S. economy that traders are deeming dovish on monetary policy

Gold 1 OZ (XAU=X) Powell cited several concerns regarding the U.S. economy that traders are deeming dovish on monetary policy

Gold 1 OZ (XAU=X) Powell cited several concerns regarding the U.S. economy that traders are deeming dovish on monetary policy Gold prices are solidly higher and near daily highs in early U.S. trading Wednesday, following the just-released prepared text from Federal Reserve Chairman Jerome Powell for his speech to the U.S. House of Representatives. Powell cited […]

Gold 1 OZ (XAU=X) bulls still have the firm overall near-term technical advantage

Gold 1 OZ (XAU=X) bulls still have the firm overall near-term technical advantage

Gold 1 OZ (XAU=X) bulls still have the firm overall near-term technical advantage Gold prices are moderately higher in early U.S. trading Monday. Trading has been choppy at higher levels recently, but the bulls still have the firm overall near-term technical advantage, and that continues to invite the chart-based traders to the long side of the […]

Can a rush into Gold 1 OZ (XAU=X) be a precursor to more negative-yielding debt worldwide?

Can a rush into Gold 1 OZ (XAU=X) be a precursor to more negative-yielding debt worldwide?

Can a rush into Gold 1 OZ (XAU=X) be a precursor to more negative-yielding debt worldwide? Can a rush into gold be a precursor to more negative-yielding debt worldwide? Wells Fargo asks this question in the latest note to clients as the bank views gold as overvalued at above the $1,400 an ounce level. Gold […]

Gold 1 OZ (XAU=X) $1,430 In Asian Trading On Rising Demand

Gold 1 OZ (XAU=X) $1,430 In Asian Trading On Rising Demand

Gold 1 OZ (XAU=X) $1,430 In Asian Trading On Rising Demand Gold prices are solidly higher in early U.S. trading Wednesday, with prices overnight coming close to taking out the recent six-year high. Gold is seeing some renewed safe-haven demand, fresh chart-based buying and support coming from ongoing notions of easier central bank monetary policies. August […]

Gold 1 OZ (XAU=X) seeing some renewed demand from traders

Gold 1 OZ (XAU=X) seeing some renewed demand from traders

Gold 1 OZ (XAU=X) seeing some renewed demand from traders Gold prices are moderately higher in early U.S. trading Tuesday. The safe-haven metal is seeing some renewed demand from traders and investors as their overall risk appetite is less robust than that which was seen on Monday. August gold futures were last up $5.10 an ounce at 1,394.40. September […]

Gold 1 OZ (XAU=X) prices have started to scale back after finding resistance at prior six-year-highs

Gold 1 OZ (XAU=X) prices have started to scale back after finding resistance at prior six-year-highs

Gold 1 OZ (XAU=X) prices have started to scale back after finding resistance at prior six-year-highs It was a strong month for gold as prices continued to ascend throughout June, with gains each week of the month into the end of Q2. Price action set a fresh six-year-high by breaking-out to the 1439 level; but buyers weren’t able […]

Gold 1 OZ (XAU=X) could see extreme volatility this week

Gold 1 OZ (XAU=X) could see extreme volatility this week

Gold 1 OZ (XAU=X) could see extreme volatility this week The key event that most attribute to the sharp reversal to the downside in gold last week were comments from Federal Reserve Chairman Jerome Powell and St. Louis Federal Reserve President James Bullard on June 25, which dampened hopes by some investors that Fed policymakers […]

Gold 1 OZ (XAU=X) Prices Consolidating

Gold 1 OZ (XAU=X) Prices Consolidating

Gold 1 OZ (XAU=X) Prices Consolidating Gold prices are lower in early U.S. trading Thursday on some more normal profit taking from the shorter-term futures traders, and on chart consolidation after hitting a six-year high of $1,442.90 in August futures on Tuesday. August gold futures were last down $6.70 an ounce at 1,408.70. July Comex silver […]

Gold 1 OZ (XAU=X) hitting a 6-year high in US dollar terms

Gold 1 OZ (XAU=X) hitting a 6-year high in US dollar terms

Gold 1 OZ (XAU=X) hitting a 6-year high in US dollar terms The spot price of gold has continued to storm upwards, hitting a 6-year high in US dollar terms and a new all-time high in our local Aussie dollars. Spot prices overnight hit US$1,438 per ounce, which is the yellow metal’s highest price since […]

Gold 1 OZ (XAU=X) appears to have shifted to a “buy the dips” mentality from the “sell the rallies”

Gold 1 OZ (XAU=X) appears to have shifted to a “buy the dips” mentality from the “sell the rallies”

Gold 1 OZ (XAU=X) appears to have shifted to a “buy the dips” mentality from the “sell the rallies” Gold prices are posting good gains and are near last week’s six-year high of $1,415.40 in August futures. Safe-haven demand amid heightened geopolitical events is keeping gold prices on the rise. Also, a slumping U.S. dollar index […]

Gold 1 OZ (XAU=X) Next Target $1,450.00

Gold 1 OZ (XAU=X) Next Target $1,450.00

Gold 1 OZ (XAU=X) Next Target $1,450.00 Technically, the gold bulls have the solid overall near-term technical advantage and gained still more power today. Prices are in an accelerating seven-week-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close in August futures above solid resistance at $1,450.00. Bears’ […]

Gold 1 OZ (XAU=X) benefiting from expected interest rate cuts in the US and rising geopolitical tensions

Gold 1 OZ (XAU=X) benefiting from expected interest rate cuts in the US and rising geopolitical tensions

Gold 1 OZ (XAU=X) benefiting from expected interest rate cuts in the US and rising geopolitical tensions The gold price surged above the $1,400/oz level overnight – the first time it has broken that barrier since September 2013 – as demand for the precious metal soars on rising uncertainties. “Gold has benefited from its safe-haven […]

Gold 1 OZ (XAU=X) experiencing a corrective pullback from recent gains

Gold 1 OZ (XAU=X) experiencing a corrective pullback from recent gains

Gold 1 OZ (XAU=X) experiencing a corrective pullback from recent gains Gold prices are modestly lower in early morning U.S. trading Wednesday, on a corrective pullback from recent gains and some position-squaring by the shorter-term futures trades ahead of this afternoon’s FOMC statement. August gold futures were last down $3.60 an ounce at 1,346.90. July Comex silver prices were last […]

Gold 1 OZ (XAU=X) investors cautioned from buying the precious metal at current price levels

Gold 1 OZ (XAU=X) investors cautioned from buying the precious metal at current price levels

Gold 1 OZ (XAU=X) investors cautioned from buying the precious metal at current price levels Wells Fargo said that gold could hit $1,400 an ounce soon, but still cautioned investors from buying the precious metal at current price levels, noting that the metal’s downside potential is much higher than its upside. “It wouldn’t shock us […]

Gold 1 OZ (XAU=X) has turned lower, buffeted by a strong US dollar

Gold 1 OZ (XAU=X) has turned lower, buffeted by a strong US dollar

Gold 1 OZ (XAU=X) has turned lower, buffeted by a strong US dollar Gold has been unable to hold its recent 14-month high and is drifting back towards minor support around $1335/oz. after a Friday rebound in the US dollar. The greenback remains the primary driver for gold and this Wednesday’s FOMC meeting will be […]

Gold 1 OZ (XAU=X) rally takes price into a multi-year trendline

Gold 1 OZ (XAU=X) rally takes price into a multi-year trendline

Gold 1 OZ (XAU=X) rally takes price into a multi-year trendline The immediate gold price advance is vulnerable while below this slope – risk for exhaustion IF price fails a weekly close above 1351. From a trading standpoint, a good place to reduce long-exposure / raise protective stops. Ultimately, we’ll be on the lookout for more favourable entries […]

Gold 1 OZ (XAU=X) heightened trader/investor risk aversion

Gold 1 OZ (XAU=X) heightened trader/investor risk aversion

Gold 1 OZ (XAU=X) heightened trader/investor risk aversion Gold prices are moderately higher in early morning U.S. trading Wednesday. At mid-week there is somewhat heightened trader/investor risk aversion, as evidenced by lower world stock markets today. August gold futures were last up $8.10 an ounce at $1,339.20. July Comex silver prices were last up $0.07 at $14.81 an ounce. European […]

Gold 1 OZ (XAU=X) prices remain under pressure as producer inflation pressures rise in line with expectations

Gold 1 OZ (XAU=X) prices remain under pressure as producer inflation pressures rise in line with expectations

Gold 1 OZ (XAU=X) prices remain under pressure as producer inflation pressures rise in line with expectations Gold prices remain under pressure as producer inflation pressures rise in line with expectations. Tuesday the U.S. Labor Department said its Producer Price Index (PPI) rose 0.1% in May, following April’s increase of 0.2%; the data were in […]

Gold 1 OZ (XAU=X) improved trader/investor risk appetite to start the trading week

Gold 1 OZ (XAU=X) improved trader/investor risk appetite to start the trading week

Gold 1 OZ (XAU=X) improved trader/investor risk appetite to start the trading week Gold prices are solidly lower in morning U.S. dealings Monday, on a corrective and profit-taking pullback from recent gains. Improved trader/investor risk appetite to start the trading week is also a negative for the safe-haven metals. A rebound in the U.S. dollar index […]

Gold 1 OZ (XAU=X) supported by trade tensions and crumbling bond yields

Gold 1 OZ (XAU=X) supported by trade tensions and crumbling bond yields

Gold 1 OZ (XAU=X) supported by trade tensions and crumbling bond yields Gold prices remain close to their 2019 peaks, buoyed up by a range of supportive factors which have added to the luster of all perceived haven assets. Trade tensions remain very high of course, particularly between China and the US where signs of rapprochement […]

Gold 1 OZ (XAU=X) Target $3000

Gold 1 OZ (XAU=X) Target $3000

Gold 1 OZ (XAU=X) Target $3000 Gold hitting $3,000 isn’t just a belief, it’s a “monetary science”, and will happen sooner or later said Dan Oliver, founder of Myrmikan Capital. Oliver said that the Federal Reserve has printed enough money to cause over-capacity in our economy and create a bubble that’s ready to burst. “When […]

Gold 1 OZ (XAU=X) nears 13-month high, but market looks heavily overbought

Gold 1 OZ (XAU=X) nears 13-month high, but market looks heavily overbought

Gold 1 OZ (XAU=X) nears 13-month high, but market looks heavily overbought Gold continues to push higher, prompted by a weaker US dollar and continues risk-off sentiment. The US dollar’s last leg lower was fueled by comments from St Louis Fed President Bullard who said that an interest rate cut may be’ warranted’ soon. Bullard […]

Gold 1 OZ (XAU=X) prices are posting double-digit gains

Gold 1 OZ (XAU=X) prices are posting double-digit gains

Gold 1 OZ (XAU=X) prices are posting double-digit gains Gold prices are posting double-digit gains and hit a nine-week high in early-morning U.S. trading Monday. Safe-haven demand remains in play to start the trading week and the month, as global stock markets are selling off. August gold futures were last up $11.60 an ounce at $1,322.70. July Comex silver prices […]

Gold 1 OZ (XAU=X) investors finally have the fundamentals working on all cylinders to fuel a strong rally

Gold 1 OZ (XAU=X) investors finally have the fundamentals working on all cylinders to fuel a strong rally

Gold 1 OZ (XAU=X) investors finally have the fundamentals working on all cylinders to fuel a strong rally It was a long wait, but bullish gold investors finally had the fundamentals working on all cylinders to fuel a strong rally. The move actually started the previous week when aggressive speculative buyers came in at $1274.60 […]

Gold 1 OZ (XAU=X) poised to continue on breaking support levels

Gold 1 OZ (XAU=X) poised to continue on breaking support levels

Gold 1 OZ (XAU=X) poised to continue on breaking support levels Gold has been clinging to the trend-line from August for the better part of the past 5 weeks, with it only once lifting off it with any meaning. That may soon change as the trend from the February high looks poised to continue on […]

Gold 1 OZ (XAU=X) new trading range of $1,270-$1,290

Gold 1 OZ (XAU=X) new trading range of $1,270-$1,290

Gold 1 OZ (XAU=X) new trading range of $1,270-$1,290 Gold appears to have found a new trading range, which is $1,270-$1,290. The range looks solid as gold prepares to make its next big move. Gold’s next move is still undetermined as it rallies to the top and breaks to the bottom, with support and resistance both […]

Gold 1 OZ (XAU=X) fighting the downtrend, nearing old support zone

Gold 1 OZ (XAU=X) fighting the downtrend, nearing old support zone

Gold 1 OZ (XAU=X) fighting the downtrend, nearing old support zone The downtrend off the February high print at $1,346.8/oz. remains in play, just, while the short-term upside is capped between $1,287/oz. (61.8% Fibonacci retracement) and the May 17 high at $1,289/oz. To break the series of recent lower highs, gold needs to break and […]

Gold 1 OZ (XAU=X) opportunity to extend the bullish movement

Gold 1 OZ (XAU=X) opportunity to extend the bullish movement

Gold 1 OZ (XAU=X) opportunity to extend the bullish movement The price of gold return above $1,280 by the end of the previous week and currently attempting to break above the high. No strong follow-through by the bull yet and gold still traded below previous week high. A close above the previous week high and […]

Gold 1 OZ (XAU=X) Cycles Bottoming

Gold 1 OZ (XAU=X) Cycles Bottoming

Gold 1 OZ (XAU=X) Cycles Bottoming As noted in past articles, the mid-term cycles were confirmed to be headed lower into the current month of May, where the next mid-term price trough is expected to form. Whether that low is already in place remains speculation at the present time, though a decent rally into mid-to-late […]

Gold 1 OZ (XAU=X) Investors Remain On Edge

Gold 1 OZ (XAU=X) Investors Remain On Edge

Gold 1 OZ (XAU=X) Investors Remain On Edge Gold prices are now posting double-digit gains and are near daily highs in late-morning action Thursday. Safe-haven demand is featured in gold, and to a lesser degree in silver, as the U.S. and world stock markets see selling pressure due to renewed U.S.-China trade worries and by […]

Gold 1 OZ (XAU=X) prices rudderless as Brexit news-flow offers conflicting influences

Gold 1 OZ (XAU=X) prices rudderless as Brexit news-flow offers conflicting influences

Gold 1 OZ (XAU=X) prices rudderless as Brexit news-flow offers conflicting influences Gold prices struggled to for direction, trading inversely of seesaw swings in the US Dollar. It succumbed to cross-currents from a jump in the GBP/USD exchange rate after UK Prime Minister Theresa May floated the possibility of a second Brexit referendum. The move promptly fizzled however, with a rebound […]

Gold 1 OZ (XAU=X) trader and investor risk appetite is more upbeat

Gold 1 OZ (XAU=X) trader and investor risk appetite is more upbeat

Gold 1 OZ (XAU=X) trader and investor risk appetite is more upbeat Gold prices are moderately down and hit a two-week low in midday U.S. trading Tuesday. So far this week, trader and investor risk appetite is more upbeat, which is bearish for the safe-haven gold and silver markets. The near-term technical posture has deteriorated […]

Gold 1 OZ (XAU=X) eyes a cluster of support

Gold 1 OZ (XAU=X) eyes a cluster of support

Gold 1 OZ (XAU=X) eyes a cluster of support The sell-off on gold continues with the precious metal down around $30 in less than a week. Gold is under pressure from a resurgent US dollar, buoyed by last Friday’s Uni of Michigan data which smashed expectations and hit a multi-year high. The important 61.8% Fibonacci […]

Gold 1 OZ (XAU=X) break through $1,280 brings $1,240 -$1,220 into play

Gold 1 OZ (XAU=X) break through $1,280 brings $1,240 -$1,220 into play

Gold 1 OZ (XAU=X) break through $1,280 brings $1,240 -$1,220 into play After Monday’s short-covering rally, which caught many off guard, gold reached resistance and has been coming down ever since. Once again, gold is getting close to a decision point and a break through $1,280 brings $1,240 -$1,220 into play. The current direction in […]

Gold 1 OZ (XAU=X) consolidation at $1,300

Gold 1 OZ (XAU=X) consolidation at $1,300

Gold 1 OZ (XAU=X) consolidation at $1,300 The upward movement of gold paused when it tested the $1,300 resistance. At the current time, the price is in consolidation mode and hovering near the resistance. We expect the precious metal to bounce up and down near $1,300 until breakout happens. If gold could move down and […]

Gold 1 OZ (XAU=X) remained below the psychologically significant price of $1,300

Gold 1 OZ (XAU=X) remained below the psychologically significant price of $1,300

Gold 1 OZ (XAU=X) remained below the psychologically significant price of $1,300 Gold prices finished modestly higher Wednesday, although remained below the psychologically significant price of $1,300, as benchmark U.S. stock indexes shook off earlier losses to move up by the time gold futures settled. The precious metal saw support “as tensions increased with Iran, […]

Gold 1 OZ (XAU=X) bulls in a much better technical posture

Gold 1 OZ (XAU=X) bulls in a much better technical posture

Gold 1 OZ (XAU=X) bulls in a much better technical posture Gold prices are slightly lower in early-morning U.S. trading Tuesday. Prices did poke to a four-week high overnight. The yellow metal is seeing a normal corrective pullback following Monday’s good gains, which put the bulls in a much better technical posture. June gold futures […]

Gold 1 OZ (XAU=X) fell as Sino-U.S. trade tensions and uncertainty over a deal weighed on yuan

Gold 1 OZ (XAU=X) fell as Sino-U.S. trade tensions and uncertainty over a deal weighed on yuan

Gold 1 OZ (XAU=X) fell as Sino-U.S. trade tensions and uncertainty over a deal weighed on yuan Gold prices fell on Monday as Sino-U.S. trade tensions and uncertainty over a deal weighed on yuan, making bullion expensive for buyers in world’s largest consumer – China. Spot gold was down 0.3% at $1,282.78 per ounce, as […]

Gold 1 OZ (XAU=X) Buy on Dips

Gold 1 OZ (XAU=X) Buy on Dips

Gold 1 OZ (XAU=X) Buy on Dips Overall, the bias in prices is: Sideways. The projected upper bound is: 1,305.84. The projected lower bound is: 1,264.28. The projected closing price is: 1,285.06. Candlesticks A white body occurred (because prices closed higher than they opened). During the past 10 bars, there have been 5 white candles […]

Gold 1 OZ (XAU=X) some safe-haven demand is featured today as the U.S. stock market is selling off

Gold 1 OZ (XAU=X) some safe-haven demand is featured today as the U.S. stock market is selling off

Gold 1 OZ (XAU=X) some safe-haven demand is featured today as the U.S. stock market is selling off Gold prices are moderately up and have hit daily highs in late-morning action Thursday. Some safe-haven demand is featured today as the U.S. stock market is selling off again, with the major indexes hitting multi-week lows. U.S.-China […]

Gold 1 OZ (XAU=X) Target $3000

Gold 1 OZ (XAU=X) Target $3000

Gold 1 OZ (XAU=X) Target $3000 Conflicting influences from the US Dollar and benchmark Treasury bond yields pinned gold prices in place yesterday. A volatile response to signs of escalation in the US-China trade war traced out inverse whipsaw price swings that put the metal’s defining anti-fiat and non-yielding attributes in conflict. All the same, the mood still seems to […]

Gold 1 OZ (XAU=X) pushing prices below solid technical support at $1,250.00

Gold 1 OZ (XAU=X) pushing prices below solid technical support at $1,250.00

Gold 1 OZ (XAU=X) pushing prices below solid technical support at $1,250.00 Gold prices are trading slightly down in early-morning U.S. trading Monday. The safe-haven metals bulls are perplexed that gold and silver prices have not received a good bid from fresh geopolitical developments that have tanked world stock markets today. June gold futures were last down $1.10 […]

Gold 1 OZ (XAU=X) prices idle as FOMC, US jobs data offer divergent drivers

Gold 1 OZ (XAU=X) prices idle as FOMC, US jobs data offer divergent drivers

Gold 1 OZ (XAU=X) prices idle as FOMC, US jobs data offer divergent drivers Gold prices struggled for direction last week, torn between competing influences from the FOMC monetary policy announcement and April’s US jobs report. The former sent prices lower as Chair Powell signaled the central bank’s outlook is firmly set at “neutral”, pushing […]

Gold 1 OZ (XAU=X) solid resistance at $1,300.00

Gold 1 OZ (XAU=X) solid resistance at $1,300.00

Gold 1 OZ (XAU=X) solid resistance at $1,300.00 Technically, the gold bears still have the overall near-term technical advantage. A nine-week-old downtrend line is in still place on the daily bar chart. However, last Friday’s bullish weekly high close is one clue that a market bottom is now in place. Bulls’ next upside price objective […]

Gold 1 OZ (XAU=X) jumped to a two-week high, after American Dollar had stumbled following release of soft economic data

Gold 1 OZ (XAU=X) jumped to a two-week high, after American Dollar had stumbled following release of soft economic data

Gold 1 OZ (XAU=X) jumped to a two-week high, after American Dollar had stumbled following release of soft economic data Spot gold price jumped to a two-week high, after American Dollar had stumbled following release of soft economic data despite a roaring quarterly growth on its gross domestic product. Gold for immediate selling had rounded off […]

Gold 1 OZ (XAU=X) solid resistance at $1,300.00

Gold 1 OZ (XAU=X) solid resistance at $1,300.00

Gold 1 OZ (XAU=X) solid resistance at $1,300.00 Technically, the gold bears have the overall near-term technical advantage. A two-month-old downtrend line is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at $1,300.00. Bears’ next near-term downside price breakout objective […]

Gold 1 OZ (XAU=X) solid technical resistance at $1,300.00

Gold 1 OZ (XAU=X) solid technical resistance at $1,300.00

Gold 1 OZ (XAU=X) solid technical resistance at $1,300.00 Technically, June gold futures prices closed near mid-range today. The bears have the overall near-term technical advantage. A two-month-old downtrend line on the daily bar chart is in place. Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance […]

Gold 1 OZ (XAU=X) gaining further traction on higher crude rates

Gold 1 OZ (XAU=X) gaining further traction on higher crude rates

Gold 1 OZ (XAU=X) gaining further traction on higher crude rates Investors continue to cut their exposure to gold. Speculators switched to a net short position in COMEX gold in the week to April 16, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. Also, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, […]

Gold 1 OZ (XAU=X) solid resistance at $1,300.00

Gold 1 OZ (XAU=X) solid resistance at $1,300.00

Gold 1 OZ (XAU=X) solid resistance at $1,300.00 Technically, the gold bears have the overall near-term technical advantage. A downtrend line is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at $1,300.00. Bears’ next near-term downside price breakout objective is pushing […]

Gold 1 OZ (XAU=X) Remains Under Pressure

Gold 1 OZ (XAU=X) Remains Under Pressure

Gold 1 OZ (XAU=X) Remains Under Pressure Gold is currently sitting on the important 61.8% Fibonacci retracement level of the April – August 2018 move at $1,287/oz. and may make another attempt at the recent lows. A quiet start to a holiday-shortened week in Europe saw gold fade lower and if gold closes below $1,287/oz. an […]

Gold 1 OZ (XAU=X) large speculators upped their bullish positioning

Gold 1 OZ (XAU=X) large speculators upped their bullish positioning

Gold 1 OZ (XAU=X) large speculators upped their bullish positioning Large speculators upped their bullish positioning in gold futures – although likely only temporarily — during the most recent reporting week for data compiled by the Commodity Futures Trading Commission. However, these accounts may well have cut their bullish posture since then, as gold prices […]

Gold 1 OZ (XAU=X) resistance at $1,330.80

Gold 1 OZ (XAU=X) resistance at $1,330.80

Gold 1 OZ (XAU=X) resistance at $1,330.80 Technically, the gold bulls still have the overall near-term technical advantage. However, a downtrend line is still in place on the daily bar chart and turned back the early-week rally in prices. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at […]

Gold 1 OZ (XAU=X) gaining further support from higher oil prices

Gold 1 OZ (XAU=X) gaining further support from higher oil prices

Gold 1 OZ (XAU=X) gaining further support from higher oil prices Gold prices rose on Tuesday and were hovering close to their highest in more than a week touched in the previous session as the dollar eased on weak U.S. economic data, with the metal gaining further support from higher oil prices. Spot gold was up 0.3 percent at $1,300.47 […]

Gold 1 OZ (XAU=X) investors awaited minutes of the U.S. Federal Reserve’s March meeting

Gold 1 OZ (XAU=X) investors awaited minutes of the U.S. Federal Reserve’s March meeting

Gold 1 OZ (XAU=X) investors awaited minutes of the U.S. Federal Reserve’s March meeting Though employment growth accelerated from a 17-month low in March, data on Friday showed slowdown in wage growth and job cuts in the manufacturing sector, the first decline in factory payrolls since July 2017. The moderation in wage growth supported the […]

Gold 1 OZ (XAU=X) traders buying on the dip

Gold 1 OZ (XAU=X) traders buying on the dip

Gold 1 OZ (XAU=X) traders buying on the dip Gold prices are slightly higher in early U.S. trading, on some short covering in the futures market and some perceived bargain hunting in the cash market. The metals are also supported as the U.S. dollar index has turned weaker despite an upbeat U.S. jobs report that was […]

Gold 1 OZ (XAU=X) market watchers are looking ahead to the U.S. Labor Department’s employment report for March

Gold 1 OZ (XAU=X) market watchers are looking ahead to the U.S. Labor Department’s employment report for March

Gold 1 OZ (XAU=X) market watchers are looking ahead to the U.S. Labor Department’s employment report for March Market watchers are looking ahead to the U.S. Labor Department’s employment report for March, which is due out Friday morning. It’s arguably the most important economic data point of the month. The key non-farm payrolls number in […]

Gold 1 OZ (XAU=X) continues to remain at multi-day lows and is straddling a strong technical level

Gold 1 OZ (XAU=X) continues to remain at multi-day lows and is straddling a strong technical level

Gold 1 OZ (XAU=X) continues to remain at multi-day lows and is straddling a strong technical level Gold and silver prices are steady to slightly lower in early U.S. trading Tuesday. Gold prices hit a three-week low overnight. A higher U.S. dollar index that is closing in on its for-the-move high scored in March continues to squelch buying […]

Gold 1 OZ (XAU=X) solid resistance of $1,330.80

Gold 1 OZ (XAU=X) solid resistance of $1,330.80

Gold 1 OZ (XAU=X) solid resistance of $1,330.80 Technically, the gold bulls still have the overall near-term technical advantage but have faded badly and need to show fresh power soon to avoid more serious chart damage. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at the March […]