Gold Price News and Forecast: XAU/USD supported by 55 and 100-hour SMAs
|Gold: Strong moves at the end of August
According to a study by an international team of researchers, Earth's seismic noise level dropped by an average of 50% between March and May 2020, during the Covid-19 lockdown. Wouldn't it be nice to think that as the noise levels dropped, we each tuned in to natural vibrations and listened to our inner voices and creativity? If you haven’t already done so, take a notebook and jot down those ideas and plans before the noise increases again.
Much has been written about January 2020’s rare alignment in Capricorn which is now prompting a financial reset for countries and individuals alike. Read More...
XAU/USD analysis: Supported by 55 and 100-hour SMAs
Yesterday, the XAU/USD exchange rate broke the lower line of the rising wedge pattern. During Tuesday morning, the rate was testing the support provided by the 55-hour SMA near 1,973.00.
It is likely that yellow metal could gain support from the 100-hour moving average near 1,966.00 as well. Thus, it is likely that some upside potential could prevail in the market.
Meanwhile, note that the rate could face the resistance at the 1,990.00 level. Thus, it is likely that the price for gold could consolidate in the short run. Read More...
Could gold reach $7,000 by 2030?
This bull market can be more positive than the previous one both for gold and the mining stocks.
In the last edition of the Fundamental Gold Report, I analyzed various WGC’s reports on the gold market. Today, I will focus on the issues of Alchemist – the flagship publication of the London Bullion Market Associations – I was unable to discuss during the most acute phase of the pandemic and the following economic crisis. Read More...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.