Gold

Gold prices are pulling back right rising to fresh 7-year highs at 1747.00. This comes following a gradual rally over the past few sessions. In the short term, the 1700 level is likely to be tested for support. But if prices slip…
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Although price action in gold remains somewhat subdued, the upside momentum is intact. Prices are now trading close to the previous highs near the 1700 – 1699 level. If there is a scope for a retracement, then the recent breakout…
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The four-hour chart on gold closed rather flat on Thursday. The metals market was closed on Friday for Good Friday. Although price action closed above the level of 1671.95, we anticipate a possible pullback lower. Watch for a close…
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The Fed's announcement was taken to heart by some of the institutions trading FX yesterday. Do you know why the new liquidity operations are riskier than ever seen before? And did you get a chance to see how gold has performed since…
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The precious metal is posting some modest gains to the upside after prices broke out off the previous highs near 167.95 level. However, the current price action suggests that some downside could persist. With prices consolidating into…
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Gold prices are trading steadily near the resistance level of 1655. At the time of writing, gold is trading near the minor trend line. To confirm the downside, a breakout from this level is required. The lower support at 1594 –…
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Price action in XAUUSD finally saw prices reclaiming the resistance area of 1654. Following the gains to this level, gold is leveling off. We expect some consolidation to take place. But given the Stochastics positioning, we could…
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The current XAUUSD structure hints at a bearish trend. The potential 5-wave impulse consists of primary waves ①-②-③-④-⑤. With impulse ① competed and the upside zigzag (A)-(B)-(C) correction in wave ② looking exhausted, we expect markets…
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Gold prices are holding on to the bullish gains with prices rising sharply to a four-week high. This comes after the breakout above the previous pivot high of 1630. To the upside, the next main price level is at 1655. Failure to…
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The precious metal has become somewhat weaker after the previous volatility seen in the weeks gone by. Price action is gradually drifting higher, in an attempt to test the previous highs. The main level of interest is 1632. A breakout…
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