Gold is poised to go higher
GOLD is in uptrend and I expect continuation of the bullish move. We can see the rounded bottom as an additional cue.
The POC zone should spike the price up. Continuation above W L3 camarilla should happen today. 1875 zone is where the buyers are.Targets are 1890 and 1902. The final target is 1916. Only the move below 1850 could change the trend. At this point buying the dips is the option and gold is poised to go higher. Read more...
Gold Price Analysis: XAU/USD off lows, still in the red below $1880 level
Gold refreshed daily lows, around $1869 region during the mid-European session, albeit quickly recovered a bit thereafter. The commodity was last seen trading just above the $1875 region, down around 0.20% for the day.
The precious metal failed to capitalize on its intraday positive move, instead faced rejection near the $1900 mark amid the prevalent upbeat market mood. The global risk sentiment remained well supported by the latest optimism about a last-minute Brexit deal and relief over a long-awaited US economic stimulus. Read more...
Gold Price Analysis: XAU/USD falters near $1900 mark, up little around $1885 region
Gold refreshed daily lows during the early European session, albeit quickly recovered thereafter. The commodity was last seen trading with modest daily gains, just below the $1885 level.
The selling bias surrounding the US dollar picked up the pace on the first day of a new trading week after the US President Donald Trump signed a $2.3 trillion COVID-19 relief and government funding bill. This was seen as one of the key factors that provided a modest lift to the dollar-denominated commodity and pushed spot prices to four-day tops. Read more...
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