Gold (XAU/USD) opened the week on a steady footing above the $1,800 mark and was last seen trading near the $1,810 resistance. The yellow metal received some fresh buy bids on the first day of the week after a mild 2-day losing streak from its multi-year tops. The bullish support came from a combination of […]
Gold (XAU/USD) has reversed from its recent dip to the $1,796 region and is now trading well above the $1,800 mark. The yellow metal saw a modest pullback yesterday after reaching its highest point since September 2011. The pullback was largely caused by fresh demand for the US dollar, which tends to impair the dollar-denominated […]
Gold (XAU/USD) traded with a mild bullish undertone in the early European session on Thursday and was last spotted trading above the $1,810 support. The yellow metal has now stayed on a bullish streak for the fourth consecutive session. The US dollar remained under strong bearish pressure well into the early trading hour of Thursday […]
Gold remained in a consolidation range in the early Asian session on Wednesday but has now picked up bullish steam recording new multi-year highs. The precious metal has risen for the fourth consecutive session now largely due to expectations of additional stimulus packages from the Federal Reserve to cushion the economic impact from the resurgence […]
Gold (XAU/USD) was seen trading around the $1,775 level after nearing its multi-year high that was set last Wednesday. A combination of favorable conditions failed to help the commodity add to the gains recorded in previous trading sessions, instead, it was set into a range-bound mode on Tuesday. Increasing concerns about the ever-rising Coronavirus cases […]
Gold (XAU/USD) climbed higher in the early European session and was last spotted trading near the top of its daily range, around the $1,778 level. A fresh US dollar selling impulse aided the dollar-denominated commodity to retrace from an early dip to the $1,770 area in the Asian session. This coupled with the ever-concerning rise […]
Recently, I’ve been asked over and over again what my thoughts on gold are: is it going to rise, or is it going to crash? If so, how high, or how low? Every time, my answer remains the same; look at what the chart is projecting. Many traders today rarely visit the monthly chart. We […]
Gold (XAU/USD) continued on a sideways range between the $1,777 and $1,772 price levels into the early European session. The yellow metal failed to take advantage of yesterday’s intraday bounce from a low of $1,757 following the positive US monthly jobs report. The NFP report showed that the US created 4.8 million jobs in June, […]
Gold (XAU/USD) bulls are witnessing some fresh bullish momentum in the early European session after yesterday’s slump. This momentum is largely supported by the risk-on bias in the European equities market that exacerbated the selling pressure on the US dollar. The safe-haven appeal for the dollar was eroded as investors took-flight from higher-yielding/risky assets. This, […]
