The Gold price has moved lower again today in the European session, continuing the move down from yesterday’s $1527.80 high. The breach of the H1 20-period moving average has been extended below the key S1 level at $1511.65 to a post intra-day low at $1506.25. The Daily time frame has support at $1500, $1492 and $1465.



The move in the Gold price is on the back of consolidation for the EGBs, after yesterday’s rally in European bond markets that was boosted by recession fears and dovish comments from ECB’s Rehn. 10-year yields have moved up from lows this morning. The German 10-year yield is up 0.6 bp at -0.71%, still close to the all-time low of -0.716% seen yesterday. UK 10-year rates are up 1.7 bp at 0.422%, but the 2-10 year part of the UK curve remains inverted as the short end continues to outperform and the 2-year rate lifted 2.7 bp this morning.

Stock markets, which closed in the red yesterday, despite the late boost from Rehn, who wouldn’t rule out the possibility of including equities in a new QE program, are catching up with the new boost for stimulus hopes. The GER30 is up 0.88%, and the UK100, which opened late after a technical glitch delayed trading, is posting a 0.8% gain.


Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD trades around 1.1100 amid the Italian crisis, ahead of Fed minutes

EUR/USD is trading around 1.1100, in familiar ranges. Italian President Mattarella will explore if a new government can be formed after PM Conte resigned. The FOMC Minutes are eyed later in the day.


GBP/USD leans lower ahead of the Johnson-Merkel meeting

GBP/USD is trading below 1.2150, losing some ground. UK PM Johnson will meet German Chancellor Merkel in Berlin after the latter called for finding practical solutions on the Irish backstop.


USD/JPY: Bulls re-take 106.50 amid higher S&P futures, Treasury yields

Following a temporary reversal seen on Tuesday, the USD/JPY pair resumes the bullish momentum in Wednesday's Asian trading and regains the 106.50 level, tracking the gains in the US Treasury yields and S&P 500 futures. 


Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Critical technical levels cryptos need to overcome after the summer slide

Late August is vacation time in the northern hemisphere – and cryptocurrency bulls may be at the beach as well. Tuesday's slide in prices lacks clear triggers and perhaps shows some fatigue or profit-taking.

Read more

Gold slips below $1500 mark amid improving risk sentiment

Gold edged lower through the early European session on Wednesday and is currently placed at the lower end of its weekly trading range, just below the key $1500 psychological mark.

Gold News