Technical analysis Let’s get straight to the point and look at what the Dow is doing. At the moment, price has found a substantial amount of support between $32,000 and $33,000. I have made the chart clear to show just the candlestick patterns because that is the primary driver we are going to be using Read More…
Gold prices increased on Thursday with a weaker US dollar following the FOMC’s announcement of a dovish interest rate hike, indicating its tightening campaign may end. Gold traders are elated again after the Federal Reserve confirmed Wednesday’s anticipated small 25 basis point interest rate hike. After retracing from year-to-date highs on Monday and Tuesday, the Read More…
Technical analysis Gold has soared lately as the Dollar continues to lose its value. Gold bulls are now targeting the 2022 high of $2,078.8. That high was set in the month of March last year, and the chart formed a significant double top that short sellers could take advantage of. I have shown two charts Read More…
Gold soars 8% in 2 weeks Last week Tuesday marked the recent low for GC as it has rallied hard on the back of a weak Dollar. We saw price bounce out of a minor support zone and rally up toward the 0.786 Fib level at $1,980.3. The next target for Gold bulls is the Read More…
On Thursday, gold prices increased marginally, rising back toward recent highs as worries about the banking crisis persisted in the wake of the European Central Bank raising interest rates. The European Central Bank increased interest rates by 50 basis points on Thursday despite the chaos in the financial markets. The bank ignored investor requests to Read More…
On Thursday, gold prices surged as Treasury yields fell due to indications that the Federal Reserve’s restrictive policy is starting to take effect as intended. Investors were also preparing for Friday’s highly anticipated release of the Labor Department’s February jobs report. The dollar fell from a nearly three-month high, gold increased, and benchmark US Treasury Read More…
