Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
David Becker

Gold prices edged lower on Friday as the dollar continued to rebound from its recent lows. Stronger than expected US housing data helped buoy the greenback, despite declines in US yields.  Gold prices finished the week slightly lower declining by 0.3%. Eurozone preliminary August PMI readings were weaker than expected as the July fell to 51.7 versus 52.7 expected, services dropped sharply to 50.1 versus 54.5 expected and 54.7 in July.

Trade gold with FXTM

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

Min Deposit:$10

Visit Broker

90% of retail CFD accounts lose money

Technical analysis

Gold prices edged lower and continued to consolidate. Prices were unable to recapture support near the 10-day moving average at 1,955. Target support is seen near the 50-day moving average at 1,863. Medium-term momentum remains negative as the MACD histogram is printing in the red with a sliding trajectory which points to lower prices. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal, and continues to accelerate lower.


US Existing Home Sales Surged

US Existing home sales increased by 24.7% in July to an annual rate of 5.86 million, which was the highest rate since December 2006, according to the National Association of Realtors. Expectations were for a 14.2% monthly increase in sales of previously owned homes. The median existing-home price rose 8.5% from a year earlier to $304,100, a record high.

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

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.