Gold (XAUUSD) Forecast

Unexpectedly hawkish Draghi brings volatility on the market and helps the EUR bulls to set yearly highs on many currency pairs. EURUSD combined the fundamentals (Draghi) and technical analysis ( iH&S formation). The price climbed sharply. We came back above the mid-term up trendline and used this momentum to break the 1.129 resistance. In my … Continue reading Nice setups on the EURUSD, USDCAD and Gold

Gold Gold prices spent the day in a form of consolidation which should come as a surprise to the bulls who would have expected the prices to move up very strongly on the back of some dollar weakness that we have been seeing over the last 24 hours. We have also seen the stock markets … Continue reading Commodities Daily Forecast – June 28, 2017

GBP/USD: Pound Continues to Gain Bank of England Governor Mark Carney said the U.K central bank is prepared for all scenarios regarding Brexit ramifications yesterday. The Pound gained against the U.S Dollar and has traversed above the 1.28 mark. Mark Carney will be speaking again today in Portugal. The Pound has done well early this … Continue reading Daily Market Forecast, June 28, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Gold markets went sideways initially, and then shot through the $1250 level. This is an area where we should see some type of resistance, but if we can continue to go higher, this would be a very bullish sign. I think that we are trying to form some type of base near the $1240 level, … Continue reading Gold Price Forecast June 28, 2017, Technical Analysis

Gold prices finished marginally higher in limited trading as investors sat on the sidelines after Monday’s steep sell-off and yesterday’s volatile Forex trade. Mixed news probably led to the low volume and tight range. August Comex gold finished the session at $1246.90, up $0.50 or +0.04%. The U.S. Dollar Index plunged on Tuesday, however, this … Continue reading Price of Gold Fundamental Daily Forecast – Rising Treasury Yields Will Cap Gold Prices

Gold prices rose and the dollar declined following Draghi’s comments that the ECB may adjust policy. Draghi urged caution about exit steps and stressed that a substantial amount of stimulus remains necessary, but he added that with policy becoming more accommodative as the recovery progresses the ECB may have to adjust policy to maintain its … Continue reading Gold Price Prediction for June 28, 2017

August Comex gold futures are trading higher shortly before the regular session opening. After hitting a six-week low on Monday on a fluke trade, the market is being driven higher today by bargain hunters and a weaker U.S. Dollar. The dollar is down against a basket of currencies, led by a surge in the Euro. … Continue reading Gold Price Futures (GC) Technical Analysis – June 27, 2017 Forecast

Gold’s sudden collapse in price values yesterday caught the market by surprise. However, the past day has produced stability after the large selloff. Speculative forces will be volatile today, but opportunities exist for Gold traders if they are use risk management wisely. Frantic Selling and a Recovery in Gold Gold’s rather frantic trading yesterday caused … Continue reading Tactics and Analysis, June 27, 2017 – Gold’s Needs Perspective

GBP/USD: Upside Short Term Potential The Pound maintained a tight trading range on Monday. The 1.27 level continues to act as support for the British currency and U.S Dollar. A coalition deal within the British government yesterday was announced by Prime Minister Theresa May which has given her some needed stability. Bank of England Governor … Continue reading Daily Market Forecast, June 27, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Gold The gold prices crashed yesterday on the back of a very large sell order that was pushed through to the markets within a few minutes. This forced the prices to move towards the 1240 region where it has found some support since then. This has helped the prices to bounce back towards the 1250 … Continue reading Commodities Daily Forecast – June 27, 2017

USDJPY My Bias: LONG Wave Structure: rally in wave [C] Long term wave count: wave [C] is underway, upside to above 136.00 Important risk events: JPY: N/A. USD: CB Consumer Confidence, Fed Chair Yellen Speaks. USDJPY rose today and broke Fridays high at 111.44 which has again shifted the focus higher in a possible wave ‘iii’ brown. … Continue reading Bullish Action in USDJPY, GOLD Slammed!

Gold futures fell to its lowest price in nearly six weeks. Most of the weakness was attributed to a “flash crash” early in the session from which the market never recovered. Apparently, a trader sold 18,500 contracts of gold by mistake, triggering sell-stops below $1250.00. Losses, however, were limited by geopolitical concerns. August Comex gold … Continue reading Price of Gold Fundamental Daily Forecast – Volatility in Play Today with Fed Speakers

Gold markets fell rather significantly during the day on Monday, slicing through the $1250 level, and then the $1240 level. The market turned around though, and it looks as if it is trying to find some type of support in this general vicinity. Because of this, the market looks very likely to continue to find … Continue reading Gold Price Forecast June 27, 2017, Technical Analysis

Gold prices moved lower on Monday, as riskier assets gained traction following Italy’s move to buoy failing banks.  The dollar gained traction paving the way for lower gold prices.  Prices tumbled down and is poised to test target support near an upward sloping trend line that comes in near 1,233.  Resistance on the yellow metal … Continue reading Gold Price Prediction for June 27, 2017

August Comex Gold futures are trading sharply lower shortly before the New York opening. The market was trading steady and without much fanfare most of the session before a fat-fingered trader reportedly sold 20,000 futures contracts, driving the market from $1254.30 to $1236.50 in one minute at 0801 GMT. There has been no follow-through to … Continue reading Gold Price Futures (GC) Technical Analysis – June 26, 2017 Forecast

Gold The prices have reached their important target of 1260 on the upside and as mentioned, this was only a bounce and a correction of the downtrend rather than any change in trend. The downtrend has since resumed and as of this writing the prices have fallen below 1250 and if the previous support at … Continue reading Commodities Daily Forecast – June 26, 2017

GBP/USD: Pound Rebound Continue The Pound has continued to get stronger in early trading against the U.S Dollar as the week has begun. The U.K government has announced it will pursue trade talks with emerging markets globally. The Pound is above the 1.27 mark handily, and the 1.28 mark may be interpreted as resistance. Traders … Continue reading Daily Market Forecast, June 26, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Gold prices are trading nearly flat on Monday as investors prepare for a slew of key U.S. economic data this week as well as a speech from Federal Reserve Chair Janet Yellen. At 0303 GMT, August Comex gold is trading $1255.80, down $0.60 or -0.05%. The range is a scant $1259.00 to $1255.40. Although gold … Continue reading Price of Gold Fundamental Daily Forecast – Traders Preparing to Respond to U.S. Durable Goods Reports

Commodities prices continue to be investors’ safe haven as political uncertainty and weaker than expected economic data raised investors concerns. Falling crude oil prices for the fifth weekly loss pulled commodity prices down as oversupply continued the ‘black gold’ downtrend. The technical analysis, that includes the indicators’ data and major pivot points for WTI Oil, Gold, Silver and Copper as traded on spot market as of June … Continue reading Commodities Technical Analysis, June 26th – June 30th, 2017

Gold posted a two-sided trade last week, first breaking to its lowest level since May 17 then recovering late in the week to finish marginally lower. August Comex Gold futures settled the week at $1256.40, down $0.10 or -0.01%. Gold hit a four-week low early in the week as the dollar held firm and the … Continue reading Price of Gold Fundamental Weekly Forecast – Falling Treasury Yields Will Be Bullish