Gold

The precious metal gave up over one percent on Thursday. The declines came on the back of a stronger US dollar. The declines are also invalidating the bullish ascending triangle pattern. If price closes strongly below the rising trend…
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The precious metal is trading higher on Wednesday. Price action managed to close past the 1911.50 level of resistance. This has, in turn, accelerated the gains toward the 1920 level. These near-term gains put gold prices back near the…
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The current XAUUSD structure shows a bullish impulsive trend of a cycle degree. On the 1H timeframe, we see the final section of wave V, which is the final one in this trend. After the end of the intermediate impulse (3), a bearish…
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The precious metal is trading mixed with price action steady near the 1900 -1911.50 level. There is a minor resistance level building up near the 1920 handle. If price action breaks past this level, it will potentially trigger further…
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The precious metal is attempting to pare losses as the US Congress is set to debate on the stimulus bill. This has weakened the US dollar and the talks of fresh stimulus are pushing gold a bit higher. But gold is struggling near the…
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The precious metal has moved into a holding pattern, staying afloat above 1900 and 1911.50. This marks the key support/resistance level for gold over the past few months. Price action has formed an ascending triangle pattern. However,…
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The precious metal is seen trading flat on Thursday, following the modest gains made a day before. Still, price action remains within the confines of Tuesday's high and low. A breakout from this minor range could trigger further gains…
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Index Looks to US Data for a Lift The US dollar index barely shifted yesterday as it closed 0.14% lower. Remaining above the 93 handle was significant as Goldman Sachs, JP Morgan, and Citi beat earnings forecasts. The index is also…
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Gold The yellow metal has been a little softer this week with price weighed upon by the firm rally in equities prices. Despite concerns over the rising second wave of the COVID-19 virus, equities prices have been well supported by…
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The precious metal made up for the losses from Tuesday as price action settled back above the 1900 level once again. The price area between 1911.50 and 1900 shows a strong pullback, putting price action moving in a sideways range.…
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