A recap of last week’s analysis. Multi-year support broken to the downside after 2 years A look into the Fibonacci Fan Analysis Last Week’s Recap Two potential scenarios were given for GC in our analysis from last week. Scenario two has played out with the gold price finally breaking below the multi-year support, which has Read More…
The Fed might tip the US into a recession, boosting bullion as a haven. Rising inflation and higher rates in the US continue to weigh on gold. The US economy is holding up well despite rising interest rates. Gold (GC) futures bulls expected the worst after the Federal Reserve raised interest rates by 75 basis Read More…
1-2-3 Reversal call turns into a potential double bottom Major support zone holding since May 2020 Pennant chart pattern forming on 4 Hour chart Support Zone Reminder We need to go back to May 2020 to observe the major support zone, which has been tested six times in two years. The yellow metal is currently Read More…
Gold prices have lost nearly 20% of their value in the last six months. Inflation in the US is still very high. Rate increases in the US are making non-yielding gold less attractive. The gold (GC) futures price has decreased by $400 per ounce, or 19.45%, in the last six months. There has to be Read More…
Gold trading inside minor and major support zones Gold Sell off as Dollar rallies after CPI report Volatile market conditions expected The Daily Support Zone Last week we spoke about the major support zone in GC in this article. We still find a lot of buy support happening at this level even after a major Read More…
Gold (GC) futures prices fall after Powell’s hawkish remarks. ECB raised rates by 75bps. Yellen raised investor hopes for lower inflation. On Thursday, gold (GC) futures closed lower as Federal Reserve Chairman Jerome Powell emphasized the bank’s commitment to bringing down inflation. He suggested that additional interest rate hikes were imminent. The move comes after Read More…
