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…
Investors are expecting a significant rate hike after a higher US inflation reading. Both the Fed and Joe Biden’s administration are fighting to lower inflation. Gold remains less attractive as interest rates rise in the US. Gold (GC) futures prices collapsed after investors digested a higher reading on US inflation that stoked speculation about a Read More…
Gold rallies 7% in a week on the back of weak US data Prices Rally back inside a multi-year support zone Pivot Points give potential turning points on shorter time frames Gold Rallies On Back Of Weak US Data and Dollar Gold prices rallied over 7% within a week as the US reported weaker data Read More…
As markets digest the Fed’s policy statement on Wednesday, gold futures prices have recently risen above $1,900. Analysts said that Powell ruled out a 75 basis point rate hike in the coming months, eliminating some downside risk for gold. Now, the focus will be on the NFP report on Friday. As bulls continued to control Read More…
Gold futures (GC) saw a dip below $1,900 on Wednesday. Fed’s rate hike plan keeps the dollar-dominated gold under pressure. Negative risk sentiment may keep the losses limited. Gold futures (GC) prices remained in a tight range on Tuesday. However, the price dipped below the $1,900 level and broke the previous monthly lows of $1,890. Read More…
For a long time, humans have been involved in trading precious materials. Gold is one of the most popular precious metals on the market, and there are many different ways people can trade it today. It has held its value for a long time and was the standard to which the value of fiat currencies Read More…
