FXEMPIRE
All
Ad
Advertisement
Advertisement
David Becker
Add to Bookmarks

 

Gold prices moved higher on Monday as the dollar continued to trend lower. U.S. Treasury yields moved lower despite a warning from Warren Buffet that prices across the manufacturing spectrum were moving higher. The decline in yields has put downward pressure on the dollar paving the way for higher gold prices. Substantial inflation is beginning to help gold prices gain traction. The higher levels of inflation were reported this weekend by investor Warren Buffet at his annual meeting.

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.

Trade gold with FXTM

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.  Resistance is seen near former support near the 10-day moving average at 1,778. Target resistance is seen near the April highs at 1,797 and then the Fibonacci retracement level of 38.2%, which is seen near 1,828. Support is seen near the 50-day moving average at 1,746. The 10-day moving average has crossed above the 50-day moving average which means that a short-term uptrend is now in place. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. Medium-term momentum is poised to turn negative as the MACD (moving average convergence divergence) index is above to generate a crossover sell signal. The MACD histogram is printing in positive territory but also poised to generate a crossover sell signal.

Advertisement

Warren Buffet Sees Inflation

Warren Buffett is seeing inflation among Berkshire Hathaway’s collection of businesses. At the annual shareholders meeting Buffet said that “We are seeing very substantial inflation.” He said that “We’ve got nine homebuilders in addition to our manufacture housing and operation, which is the largest in the country.

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