Gold

The precious metal fell to a seven-month low over the week before managing to recovery with bullish gains on Friday. Price action closed with gains after Thursday's doji pattern. This also comes near the support level of 1764. With…
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Dollar Cut Short on Jobless Numbers The US index halted its recent ascent as it closed 0.33% lower on Thursday. The greenback slumped after the US government reported a larger than expected reading for initial jobless claims.…
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The precious metal is trading flat on Thursday following the sharp declines from the day before. Price action has not yet tested the 30 November lows of 1764.22. For the moment, we expect gold prices to consolidate between 1817.80 and…
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Gold It’s been a disappointing week for gold bulls. Following the recovery rally seen across the first week of February, the gold market has swung back into net sales this week. Gold prices are falling from highs of around the mid-1826…
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Dollar Bounces Higher The dollar index rose by a further 0.22% yesterday as it flirted with the 91 handle, its highest level in over a week. Retail sales for January rose 5.3% on a month-over-month basis versus expectations of 1.1%.…
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The precious metal resumes its declines with price action currently trading near the 1777.50 level. The decline marks a new two-month low in the commodity. A break down below this level could further accelerate declines. Still,…
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Dollar Reprieve, But for How Long? The greenback reversed by 0.28% yesterday, bouncing of the 90 handle. Investors have gained confidence about Biden’s proposal being voted on by the end of the month. However, analysts were quick to…
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The precious metal lost the 1817.79 technical support on Tuesday. However, after prices fell to intraday lows of 1789.37, there was a quick recovery. The current pullback could see gold prices retesting the 1817.79 level once again.…
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XAUUSD has witnessed a choppy descent since hitting record highs in the midst of the 2020 pandemic. The continuous descending channel from the said period has seen prices tested at the psychological $1800 level. The recent bullish…
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President’s Day Doesn’t Halt Dollar Decline The US index closed 0.10% lower on Monday as it continued its bearish tone. Analysts still back an extended period of weakness for the greenback into 2021, on the back of Fed’s commitment to…
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