Forecasts & Analysis | Gold, Page

The evidence is in and we have to conclude that gold isn’t breaking sharply because the U.S. Dollar is not that strong. Therefore, demand for dollar-denominated gold should not be dropping as one may think. The data clearly shows that as a gold trader, you shouldn’t be worried about the

Soft US and Chinese Data is Helping to Buoy Gold Prices

Gold markets fell a bit during the week but found support underneath the turn things around and form a bit of a hammer. The hammer of course was preceded by another one, showing just how resilient the market has been.

Gold markets rallied a bit during the trading session on Friday after initially gapping higher. We found plenty of resistance above, so we pulled back just a bit. One thing is for sure, it seems as if the buyers are very aggressive when it comes to gold.

Based on the early price action, the direction of the April Comex gold futures contract the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at $1320.10 and the Fibonacci level at $1317.90. Basically, the early price action suggests the buying could

Bad data from the US helped the precious metals to climb higher and on both: Gold and Silver, we are very close to see major long-term buy signals.

GoldThe weak economic numbers from the US has helped gold market to turn around and rally a bit. The 20 Day EMA underneath and a major uptrend line which is running down just below is offering strong support to the market. Going forward, the market will find enough buyers around

A series of U.S. reports could move gold prices on Friday. Weak numbers will increase the odds of a pause in Fed rate hikes. This would likely put pressure on the dollar while make dollar-denominated gold a more attractive investment.

Gold markets fell initially during the trading session on Thursday but has turned around to break back above the 20 day EMA, showing signs of resiliency yet again.

Soft Retail Sales weigh on the dollar and buoy gold

Industrial production in Eurozone came worse than expectations. That was one of the reasons why EUR reversed sharply against the USD.

The direction of the gold market on Thursday will once again be determined by trader reaction to the U.S. Dollar’s movement against a basket of major currencies. The dollar is currently losing ground to the Australian and New Zealand Dollars and the Euro. If this trend continues then the dollar

GoldThe gold prices lost momentum during the Wednesday’s session, as it pulled back a bit reaching below the $1310 level. The market trying to build up enough momentum, in order to break through the massive barrier above at the $1325 level. Pullbacks like such will continue to attract buyers and

Based on the early price action, the direction of the April Comex gold market today is likely to be determined by trader reaction to a pair of Gann angles at $1311.10 and $1311.50.

Gold closes nearly unchanged as short term momentum turns negative

Gold initially fell during the trading session on Wednesday but continues to find buyers underneath to supported. I think that the market is trying to build up the necessary momentum to finally break out to the upside, which has a ton of resistance overhead.

The direction for gold on Wednesday will continue to be influenced by the direction of the U.S. Dollar. The greenback will strengthen and gold will weaken if investors once again express concerns over U.S.-China trade relations. Additionally, the deal to avert the government shutdown could hit a snap or President

GoldThe gold prices pulled back initially during Tuesday’s session but got enough support underneath to continue rally higher. The $1325 level higher would continue to be extremely resistive, but pullbacks will continue to be a nice buying opportunity. If the gold breaks the support at $1300 level, then probably it

As anticipated in our yesterday’s analysis, EURUSD made a reversal.

Based on the early price action, the direction of the April Comex gold futures contract is likely to be determined by trader reaction to the support cluster at $1313.10 to $1313.00. This area provided support earlier in the session.