Gold shining on global risks! bulls ready for 1805$!
Gold Price pulled back from $1690 critical support but until the end of the week, price managed to reclaim the $1,733-resistance area. Gold bulls remain in control of the trend and could try to push the price to new higher highs once again 1650$, 1670$
Gold currently Proforming tow different trends short term downside and long term upside, but last week downside trend break 1713$ and manage to come back $1733 Resistance. At the moment Gold under trend line of long term line. Read more...
Gold Price Analysis: Dip-buying should help limit any meaningful slide
Gold extended its steady intraday pullback from over one-week tops and was last seen trading near the lower end of its daily trading range, around the $1730 region.
The pullback lacked any major catalyst and could be solely attributed an intraday USD rebound, which tends to undermine demand for the dollar-denominated commodity. Read more...
Gold and Silver higher again
The gold futures contract gained 1.35% on Friday, as it retraced most of the decline from mid-May high of 1,775.80. Early in the last week it has been extending a consolidation after bouncing off $1,700 support level on Wednesday. Gold price is still trading within its medium-term consolidation, as we can see on the daily chart:
Gold is 0.3% higher today, as it is trading within its Friday’s daily range. Financial markets remain in risk-on mode, as stocks continue to hover along their medium-term highs. What about the other precious metals?: Silver gained 2.96% on Friday and today it is 2.0% higher, platinum gained 0.75% and today is trading 2.1% higher. Palladium gained 1.36% yesterday and today it is 0.5% higher. So precious metals extend their Friday’s advances this morning. Read more...
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