Gold (XAU/USD) is trading on positive sentiment as we head into the Federal Reserve’s meeting scheduled to begin tomorrow. The uptick appears to be preparing the commodity for a breakout above its recent consolidation range. A dovish stance by FOMC officials in the two-day meeting will likely re-establish a bullish sentiment for the yellow metal. […]
Gold (XAU/USD) climbed higher on Monday and was last spotted trading within its recent consolidation range, below the $1950 resistance. The lasting bearish tone surrounding the US dollar (DXY), sponsored by the uncertainty of a US fiscal stimulus measure, is one of the major factors underpinning demand for the dollar-denominated commodity. The chances of a […]
Gold (XAU/USD) continued on a directionless bias around the $1951 resistance in the early European session. The yellow metal ran out of steam around the $1951 level after a strong $30 overnight gain. The bounce was mainly as a result of some renewed selling around the US dollar (DXY), which usually bolsters demand for the […]
Gold (XAU/USD) traded without any strong directional bias and remained in a tight range near $1930 in the early European session on Wednesday. Yesterday’s decline was met with strong support at the $1906 line (the 50 SMA on the daily chart), where it was able to facilitate a modest bounce. The bounce was likely as […]
Today was a slow day across markets as the US markets remain closed to observe the Labor Day holiday. Regardless, there appear to be some technical set-ups emerging around gold (XAU/USD). The yellow metal remained within a narrow trading range throughout the day and was last spotted trading around $1928. Gold has traded in a […]
Gold (XAU/USD) renewed its daily lows around the $1924 level in the early European session on Monday. However, there hasn’t been any significant follow-through selling. The yellow metal could not take advantage of the recent uptick in the early Asian session today, instead found fresh supply around the $1941 level. This was most likely due […]
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Gold (XAU/USD) has renewed its weekly lows in the early European session on Thursday, although it lacked any significant follow-through sell-off and has recovered a bit from its fall. The yellow metal began its retracement from the $1992 level (its 2-week high) and has continued on a depressing sentiment for the second consecutive session now. […]
Gold (XAU/USD) traded through yesterday’s North American session with a mild negative bias and was last spotted trading around the $1970 level. The mild negative bias from yesterday continued into the European session on Wednesday after extending its overnight correction slide from its two-week highs. The bearishness was induced by a combination of factors. A […]
