Gold Price News and Forecast: XAU/USD is increasingly recognized as a mainstream investment [Video]
|Gold eyes key levels for fresh direction; bias skewed to the upside [Video]
Gold opened with weak momentum on Monday in the daily chart, hovering slightly below the new almost eight-year peak registered last week.
Nevertheless, the short-term bias is still skewed to the upside. Although frail, the RSI is holding comfortably above its 50 neutral level, while the MACD, despite stabilizing, remains within the positive area and marginally above its red signal line. Meanwhile, the price itself continues to trade above the upward-sloping 20-day simple moving average (SMA) and within the upper bullish Bollinger band area, keeping hopes of further improvement in the market alive for now. Read More...
Gold is increasingly recognized as a mainstream investment
Traders are enjoying a long 4th July holiday weekend as the U.S. stock, bond and commodity markets, including the NYSE and NASDAQ, were closed on Friday in observance of Independence Day. U.S. commodities markets, including gold and oil futures, as well as the bond market also were closed for trading Friday.
Meanwhile today’s futures of the S&P 500 and Dow Jones Industrial are down by less than a half percent, after the indexes continued advancing on Thursday in the wake of a stronger-than-expected U.S. jobs report. Read More...
Gold: We could be looking at a significant bull trap
Gold Spot I am still concerned we have hit a short term in severely overbought conditions as we hold important trend line resistance. We bottomed exactly at the best support at 1761/58 & topped exactly at strong resistance at 1778/82. Shorts need stops above 1800.
Silver Spot sideways but again, risks could be to the downside. Read More...
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