Gold

The precious metal is extending its bullish momentum. Price action is trading above the key resistance level of 1818.80. As long as gold prices remain firmly above this level, we could expect further gains. This could extend the…
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The current XAUUSD formation hints to a strong bullish impulse. We now see the development of the final impulse wave V, which consists of intermediate sub-waves (1)-(2)-(3)-(4)-(5). The intermediate correction wave (4) which is a…
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The precious metal has been posting strong gains on the back of the US dollar. Gold prices are up nearly 2% intraday on Tuesday. The rebound also coincides with the impending correction in gold, as mentioned a day before. For the moment,…
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The precious metal is extending losses as the 200-day moving average gives way. Price action is, however, showing signs of a rebound near the current five-month low. The Stochastics oscillator is also showing signs of a bullish…
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The precious metal continued to move lower following a brief pause for two sessions. However, as prices make a new low, there is a strong bullish divergence building up on the Stochastics oscillator. This could mean that the precious…
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Dollar Shows Modest Gain, But Worries Continue The dollar index rose by 0.10% yesterday but failed to break the 92 handle, on a quiet Thanksgiving holiday. President Trump has signaled that he is prepared to leave the White House,…
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Gold Gold prices have come under heavy selling pressure this week. The safe-haven asset broke below the 1862.07 level which has underpinned price action since July. The sell-off was fuelled by the continued risk-on move which is sweeping…
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The precious metal is consolidating into a sideways range after falling below the 1817.80 level of support. On the daily chart, we have the long term support coming from the 200-day moving average. With price action closing flat,…
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Dollar Keeps Falling from Grace The US index sank by 0.12% on Wednesday as it closed below the 92 handle for the first time in 6 months. Today’s Thanksgiving festivities will be soured as the number of people filing for initial jobless…
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The precious metal is gaining some support off the 200-day moving average. Price action is closing flat on the day, which could signal some near term reversal. This would mean that gold could potentially rise to test the 1817.80 level.…
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