Gold prices dipped slightly in Asian trading on Monday as traders looked ahead to U.S. Federal Reserve Chair Jerome Powell’s upcoming testimony and key inflation data expected later in the week. Despite the slight decline, gold prices hovered near one-month highs, edging closer to breaking above $2,400 an ounce. This optimism is driven by growing […]
Market Analysis – July 1 Gold has been unable to break above the resistance zone of 2418.0. The formation of a new swing high at this level in May indicates that bullish momentum has waned. Currently, gold is trapped between 2420.0 and 2285.0. Gold Key Levels Demand Levels: 2285.0, 2149.0, 1984.0Supply Levels: 2418.0, 2500.0, 2600.0 […]
XAUUSD Analysis – June 20 XAUUSD bullish sentiment is still prevalent. Currently, the 9-day Simple Moving Average (SMA) is rising, indicating bullish momentum in the near term. Furthermore, there has been a bullish crossover in the Moving Average Convergence Divergence (MACD), with the MACD line crossing above the signal line. Additionally, a positive flip in […]
Market Analysis – June 13 Gold (XAUUSD) appears to have lost its bullish momentum, transitioning from a strong uptrend to a consolidation phase. Since April, the price has been oscillating between the upper boundary of 2,430.0 and the lower boundary of 2,280.0. Gold Key Levels Demand Levels: 2,280.0, 2,195.0, 2,074.0 Supply Levels: 2,431.0, 2,500.0, 2,600.0 […]
Market Analysis – June 7 Gold (XAUUSD) market sentiment remains bullish as the bullish trend resumes. The market seems to be heading upward to form a new high above the current all-time high. The current all-time high is at the $2450.10 price level. An invalidation of this swing high by the ongoing bullish trend will […]
Market Analysis – May 29 Gold price action has formed a notable double-top pattern on the daily chart. The double-top pattern traditionally signals a potential reversal or a deceleration in the prevailing bullish trend. Despite this, it is important to highlight that no significant demand zones or swing lows have been compromised, thus keeping the […]
Gold prices rose on Tuesday, buoyed by a softer dollar as investors eagerly await U.S. inflation data later this week to gauge the timing of potential interest rate cuts. Spot gold advanced 0.4% to $2,359.85 per ounce by 10:16 a.m. ET (1416 GMT), while U.S. gold futures increased by 1.1% to $2,360.70. The dollar decreased […]
Market Analysis – May 24 Gold has exhibited exceptional performance over the past two months. From December to February, the price of gold remained relatively stable. However, March saw a breakout from this prolonged consolidation, injecting volatility into the market. The price surged to $2431.0, marking the highest point of the year so far. Gold […]
Market – May 19 Gold price ascent took off in February. The spread of the Williams Alligator strings revealed a transformation from a long-term consolidation to an uptrend. The price soared till the supply level of 2414.0 was reached. Gold prices crashed upon reaching the resistance level. Bulls have reorganized to enforce a breakout above […]
