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, […]
Gold (XAU/USD) climbed to fresh multi-year highs in the last few hours, with bulls aspiring to close-in on the $1,800/oz price mark. Following a modest consolidation in the Asian session on Wednesday, the yellow metal picked up fresh bullish steam and added to the overnight break above the previous one-week-old consolidation range. Not surprisingly, worries over […]
Gold (XAU/USD) continues on its range-bound move in the early European session and remains within the confines of the $1,775-70 level. Worries over the growing number of new Coronavirus cases and fading optimism of a sharp V-shaped global economic recovery continue to extend support for the yellow metal’s safe-haven appeal. Gold gained further backing from […]
Gold remains range-bound around the $1,770 level for the better part of the European session and even now as we approach the close of the session. Meanwhile, strategists at TD Securities have opined that the yellow metal will likely surpass the $1,800 mark as inflation-hedge assets gain popularity. According to the strategists, gold is on […]
Gold (XAU/USD) resumed its struggle to capitalize on its recent bullish momentum for further gains and was last spotted trading around the $1,770 pivot region. The rapidly increasing number of new cases globally has illustrated that the fight against Covid-19 is far from over and a full economic recovery will take much longer than expected. Optimism […]
