Gold bears are targeting lower prices. Spinning top from yesterday’s session on the Daily chart. Price retraces to test the neckline of a head & shoulders on the 2-Hourly chart. Recap From Earlier This Week On Monday 24th, we looked at the slight bounce in Gold prices out of the minor support potentially forming a Read More…
The US dollar reverses losses, making gold more expensive for overseas buyers. The US economy makes an unexpected recovery in Q3. US consumer spending fell to 1.4%, indicating reduced demand. Gold (GC) futures prices declined in choppy trading as a gain in the dollar offset support for the precious metal. Gold had been rising on Read More…
Gold Futures prices bounce off the minor support zone. The smaller time frames show many trade opportunities. The bearish sentiment remains. Quick Recap Last week, we mentioned the possibility of a bounce out of the minor support zone at $1,622.20-$1638.50 within the larger term downtrend. Take a look at the article here to get a Read More…
Gold prices are struggling as US Treasury yields make new highs. Markets expect the Fed to maintain its aggressive stance, which might hurt gold prices. The US labor market continues to show resilience amid rising interest rates. The yield on 10-year US Treasury notes has increased to levels last seen in June 2008, and persistently Read More…
Multi-Year support level successfully holds as resistance. Is Gold oversold in the short term? Sell-off followed by consolidation pattern on the 4-hourly chart. Multi-Year Support Now Resistance If we rewind to last month, we watched gold break below the major support after holding for over two years. We stated that the level could turn into Read More…
Initial jobless claims in the US exceed expectations pointing to a cooling labor market. Economists expect the US labor market to deteriorate amid higher interest rates. The Fed will only pause when the labor market cools significantly. Gold (GC) Futures prices continue to rise steadily following the disappointment in recent labor market data. The number Read More…
