Gold Price News and Forecast: XAU/USD break above 1800 is a strong buy signal
|Will gold march forward on Fed's forward guidance?
The Fed could strengthen its forward guidance later this year. Given its dovish bias and the fresh viral outbreaks, it could be positive for gold prices.
Last week, the FOMC has published minutes of its meeting from June 9-10. They show a few interesting things. First of all, although the Fed officials could be satisfied with their monetary policy stance, they want to communicate better to the markets their intentions about the path of the federal funds rate and the Fed’s balance sheet. In other words, the FOMC is likely to strengthen their forward guidance later this year. Read More...
Gold: A break above 1800 is a strong buy signal
Gold Spot edges slowly back to very important resistance at 1787/90 & holds. Obviously this is key to direction in severely overbought conditions.
Silver Spot beat first resistance at 1806/09 hitting targets of 1821/23 & important resistance at the 1 month high at 1835/37. We topped exactly here. Read More...
Gold consolidates in a range below $1785 level
Gold was seen oscillating in a range below the $1785 level and remains well within the striking distance of multi-year tops set last Wednesday.
A combination of diverging forces failed to assist the commodity to build on its gains recorded over the past two trading sessions, rather led to a subdued/range-bound trading action on Tuesday. Growing worries about the ever-increasing COVID-19 cases globally extended some support to the safe-haven precious metal during the Asian session. Read More...
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