Gold Technical Analysis 19-01-18

Gold managed to continue its drop correction over the last 3 days. The precious metal managed yesterday to test our support zone at 1322-26 as we expected it would earlier this week. From that support zone at 1322-26 we also expected another advance wave that could potentially hit the market towards the resistance line at 1350-55. Above th...

2018-01-19 Orbex Read more
Raw Gold_Volatility

Gold prices managed to post a rally the week during the FOMC meeting. With the central bank holding rates steady, gold prices eased back forming nearly three days of closing flat. The double inside bar pattern on the daily chart saw prices breaking out strongly yesterday indicating near-term declines. Support is seen at 1314 - 1300 on the daily ...

2016-10-10 John Benjamin Read more
gold bar

Gold prices gained over 1.50% yesterday after the much hyped central bank meeting failed to excite traders. Although gold prices started the week on a soft note, yesterday's price action managed to recover most of the declines from the previous week. Spot gold closed yesterday at an 8-day high at $1336.05 an ounce. BoJ's new policy framework ...

2016-09-22 John Benjamin Read more
Gold

Gold bulls cannot afford to be complacent over the next few days as the Bank of Japan, and the FOMC monetary policy meetings will likely see the temporary lull in the precious metal giving way to strong price action. Price action continues to consolidate within the $1350 - $1300 price levels, and we suspect this pattern to play out until next we...

2016-09-14 John Benjamin Read more
Gold

Price of spot gold remains flat this week, as of Wednesday, 20th July. With lack of any clear fundamentals to go by, gold prices eased below $1350 last week and since then has seen supported above $1327.50 an ounce. The decline in gold prices came about after the June payrolls report from the US. While gold prices closed the day, July 8th on a b...

2016-07-20 John Benjamin Read more
Gold

Gold prices may be slipped strongly in May, posting the first monthly decline in prices this year. While the correction in gold prices might keep the upside limited, a further decline in prices over the next few weeks or at least until the geopolitical and central bank uncertainty calms over the next two weeks. The Federal Reserve is expected t...

2016-06-08 John Benjamin Read more
Gold bar

Gold prices finished the month of May, down 6.05%. The month of May also saw gold prices touching a 15-month high at $1303.6. Gold sold off, weaker ahead of increasing speculation that the Federal Reserve was preparing to hike rates either in June or July, with the June hike probability at 20%. Last week's Commitment of Traders report showed tha...

2016-06-01 John Benjamin Read more