Gold Analysis: breaks resistance levels
On Friday, gold's price broke off the hourly simple moving averages. On Monday, there was a surge that started when the rate bounced off the support of the 200-hour SMA.
In general, the pair had no technical resistance as high as the pivot point at 1,570.00. In theory, the price should reach for this level. Read more...
10 Economic Trends That Will Shape the US and Gold Market in 2020
Will 2020 turn out better than 2019 for the yellow metal? Gold prices don’t move in a vacuum – the macroeconomic situation definitely plays a key fundamental role. In today’s article, we’ll present the macroeconomic outlook for 2020 and you’ll learn whether the fundamentals are likely to become more or less friendly toward gold in 2020.
What will 2020 be like? Well, as a leap year, it will be for sure longer than 2019, but the rest is a mystery. However, let’s point out a few important trends that will shape the U.S. economy and the gold market this year. Read More
Gold New York Price Forecast: XAU/USD bulls facing the 1563 resistance in the New York session
XAU/USD is trading in an uptrend above the main daily simple moving averages (SMAs). After a failure at the 1600 mark earlier in the month, the metal is regaining strength once again.
Gold is currently limited by the 1563 resistance as the metal is evolving in a bullish channel above the main SMAs. A break above the resistance can see the metal appreciating towards the 1570 and 1580 resistance levels. Read more...
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