Category: Gold
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Feeding the gold beast | Forexlive
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Bulls have been panting and panting for the past three weeks but have yet to open the door for a stronger technical breakout. Gold prices have been consolidating in a tight range lately and it is safe to say that the next trade is to go with the breakout that…
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Chart Art: Gold (XAU/USD) Still Stuck in a Range!
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Gold has risen to record highs over the past few days, but it appears to be struggling to break out of consolidation. Check out these turning points I’m watching! Gold (XAU/USD) Forex 1 Hour Chart by TradingView All this talk about the size of the Fed’s potential rate cut in…
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Gold Technical Analysis – We remain stuck in the range
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Basic Overview Markets were waiting for the US non-farm payrolls report for a clear signal of a 25 or 50 basis point rate cut at the upcoming FOMC meeting, but instead we got a mixed report with some better details. As a result, the odds of a 50bp rate cut…
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China’s central bank didn’t buy any gold in August
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Gold monthly China’s central bank did not announce any gold purchases in August, saying reserves remained at 72.80 million troy ounces. Announced purchases stopped in May after several months of accumulation. Reports later suggested that the People’s Bank of China had become price sensitive. In February, the People’s Bank of…
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Tether Unveils Synthetic Dollar Backed By Tokenized Gold, Citing Bitcoin’s Volatility
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Image: cryptobriefing.com In a strategic move to diversify its offerings and cater to the evolving needs of the digital asset market, Tether, a leading stablecoin issuer, has announced the launch of a new synthetic dollar token backed by tokenized gold. The decision to leverage physical gold as collateral for this…
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Gold Technical Analysis – All eyes on the US NFP
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Basic Overview Gold has been steadily rising this week since bouncing off the recent range low. Weak US job openings data on Wednesday gave it the support it needed to push towards key resistance at 2530. The move was driven by lower real yields, as weaker US data has pushed…
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Chart Art: Potential Resistance-Turned-Support Area For Gold (XAU/USD)
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Spot gold appears ready to extend the uptrend with long wicks emerging near the previous resistance area. In case you missed it, risk aversion was the name of the game yesterday as traders fretted over global growth and the possibility that the Federal Reserve would need to cut interest rates…
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Gold Technical Analysis – The calm before the storm?
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Basic Overview Gold continues to trade in a tight range as the market awaits key catalysts this week. As a reminder, the Fed is now very focused on the labor market as Fed Chair Powell said they will not welcome further weakness and will do everything they can to maintain…
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Gold climbs to the highs of the day, nears new record
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gold 10 minutes The daily chart of gold has had a nice turnaround. It dropped about $15 after a round of USD buying on the back of good GDP data, but has since regained all that and more. The bids came in just before $2,500, and now the price is…
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Can gold sellers gather some traction?
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Gold has gone up dramatically. Adam explained a “very simple case for buying gold” in his post here. It makes perfect sense. However, there are times when momentum fades and a corrective move occurs, or the “condition” changes and the market reverses. Technical analysis helps tell this story. Looking at…
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Gold bulls dealt a minor setback in trading yesterday
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With the dollar rebounding slightly, gold is down 1% and more importantly back below the $2,500 level. The price is still above the previous triple top pattern at around $2,480, but buyers are hoping for a more convincing push above the figure to reinforce the breakout case. Gold (XAU/USD) Hourly…
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Gold bulls dealt a minor setback in trading yesterday
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With the dollar rebounding slightly, gold is down 1% and more importantly back below the $2,500 level. The price is still above the previous triple top pattern at around $2,480, but buyers are hoping for a more convincing push above the figure to reinforce the breakout case. Gold (XAU/USD) Hourly…
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Chart Art: Is Spot Gold (XAU/USD) Ready To Extend Its Uptrend?
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Spot gold prices took a breather after hitting new record highs earlier this week. Is the commodity ready to extend its upward trend after falling to the technical support area? The 4-hour daily chart might give us some clues! Gold (XAU/USD) 4 hours Chart by TradingView If you missed yesterday’s…
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Gold Tops $2500, Steals The Spotlight From Bitcoin
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Gold prices have crossed the $2,500 per ounce mark to $2,531, hitting an all-time high. The move may be driven by rising hopes of a rate cut by the US Federal Reserve. Investors are looking to make more money by investing in gold. Gold Security– The focus on Bitcoin and…
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Gold Tops $2500, Steals The Spotlight From Bitcoin
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Gold prices have crossed the $2,500 per ounce mark to $2,531, hitting an all-time high. The move may be driven by rising hopes of a rate cut by the US Federal Reserve. Investors are looking to make more money by investing in gold. Gold Security– The focus on Bitcoin and…
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TA of the Day: Gold Surges to New Highs! Is a Reversal in Sight?
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Gold diggers – literally and figuratively – should be in high spirits right now! ? Gold continues to hit new record highs, rising above $2,500, driven by a weaker US dollar and expectations of a Federal Reserve rate cut in September. With its reputation as a stable investment during turbulent…
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Gold Technical Analysis – Flash US PMIs in focus
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Basic Overview After breaking the 2480 resistance level, gold eventually managed to extend its gains to the 2532 level as buyers flocked in. In the big picture, gold is expected to remain supported as real yields decline as we head into the Fed’s easing cycle, but in the near term,…
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Gold prices could surge to $2,600 an ounce as us interest rate cut looms
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Gold could rise to $2,600 an ounce after hitting a new record high, as traders increasingly expect the US Federal Reserve to cut interest rates next month. On Sunday, spot gold broke through $2,500 an ounce for the first time, extending a rally that has seen the precious metal rise…
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Newmont upgraded, AngloGold downgraded at Scotiabank in upbeat gold outlook (NYSE:NEM)
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bodnarchuk/iStock via Getty Images Newmont (NYSE: No) was upgraded to sector outperform from sector perform with a $59 price target, but AngloGold Ashanti (AU) was downgraded to sector underperform from sector perform with a $30 price target, at Scotiabank, which still sees the group delivering an average upside of around…