Gold Price News and Forecast: Potential consolidation ahead of further gains – UOB
|Gold holds steady above $1770 level, bullish bias remains
Gold extended its sideways consolidative price moves through the mid-European session and remained confined in a narrow trading band, around the $1770 region.
The commodity failed to capitalize on the previous day's strong intraday up move of around $25 dollar and witnessed a modest intraday pullback following an early uptick to the $1775 region earlier during the Asian hours on Monday. Read more...
Gold: Potential consolidation ahead of further gains – UOB
"The price actions in spot gold since March have been choppy. However, with monthly ADX rising strongly above the 25 level, spot gold is deemed to be in a long-term up-trend."
"Overbought shorter-term conditions could lead to a period of consolidation first but spot gold is expected to stage another push higher towards (and possibly above) the 8-year peak of $1,795, likely closer to the end of third quarter." Read more...
Gold: Long-term inflation expectations lifts prices higher – TDS
"Gold is on the edge of a breakout. Price action continues to lend strength to our view that gold's role is shifting from a safe-haven asset to an inflation-hedge product."
"The entire maturity spectrum of inflation breakevens are still priced below policy objectives. In this context, declining real rates should imminently support gold prices into the $1800s." Read more...
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