FXEMPIRE
All
Ad
Advertisement
Advertisement
David Becker
Add to Bookmarks

Gold prices rose for a 3rd consecutive trading session, to the highest levels since October 21. This comes as the dollar dropped and US yields moved higher. Riskier surged ahead of the US election results, which helped buoy the yellow metal.  US factory orders increased for the 5th straight month.

Trade gold with FXTM

Advertisement
Know where Gold is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:30 Churchill Place, London, E14 5EU, UK

Min Deposit:$10

Visit Broker

82% of retail CFD accounts lose money

Technical analysis

Gold prices moved higher on Tuesday testing resistance near the  50-day moving average at 1,914. Support on the yellow metal is seen near the 10-day moving average at 1,896. Short-term momentum is positive as the fast stochastic generated a crossover buy signal. The current reading on the fast stochastic is 48, up from 28 which reflects accelerating positive momentum. Medium-term momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line).

Advertisement

US Factory Orders Rose

U.S. factory orders rose 1.1% in September to mark the 5th straight gain, pointing to a steady recovery in the manufacturing segment of the economy. Expectations had been for a 1% increase. Orders for durable goods made to last at least three years climbed 1.9% in September, the same as the original reading, Orders for nondurable goods such as clothing and food products rose a smaller 0.3%.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker