Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.
Gold price rebounds on downbeat NFP data, eyes on Fedspeak
Gold price (XAU/USD) snaps the two-day losing streak during the European session on Monday. The weaker-than-expected US employment reports have boosted the odds of a September rate cut from the US Fed.
Gold price trades on a stronger note on the day. The bullish outlook of the precious metal remains intact, as XAU/USD is above the key 100-day Exponential Moving Average (EMA) on the daily chart.
In the near term, the gold price has remained capped within a descending trend channel since mid-April, suggesting that further consolidation cannot be ruled out. Additionally, the 14-day Relative Strength Index (RSI) hovers around the 50 midline, indicating indecisiveness among market players.
The first upside barrier for the yellow metal will emerge near the 100-EMA at $2,318. A decisive break above the mentioned level would resume the positive outlook in the short term. The next hurdle is seen at the $2,350–$2,355 region, portraying the confluence of a high of April 26 and the upper boundary of a descending trend channel. A bullish breakout above this level will expose the $2,400 mark en route to an all-time high near $2,432.
On the downside, any follow-through selling below the $2,300 psychological mark will see a drop to a low of May 3 and the lower limit of a descending trend channel at $2,275. Further south, the next contention level is located near a low of April 1 at $2,228, followed by the $2,200 round mark.
Gold price rebounds on downbeat NFP data, eyes on Fedspeak
Gold price (XAU/USD) snaps the two-day losing streak during the European session on Monday. The weaker-than-expected US employment reports have boosted the odds of a September rate cut from the US Fed.
Gold price trades on a stronger note on the day. The bullish outlook of the precious metal remains intact, as XAU/USD is above the key 100-day Exponential Moving Average (EMA) on the daily chart.
In the near term, the gold price has remained capped within a descending trend channel since mid-April, suggesting that further consolidation cannot be ruled out. Additionally, the 14-day Relative Strength Index (RSI) hovers around the 50 midline, indicating indecisiveness among market players.
The first upside barrier for the yellow metal will emerge near the 100-EMA at $2,318. A decisive break above the mentioned level would resume the positive outlook in the short term. The next hurdle is seen at the $2,350–$2,355 region, portraying the confluence of a high of April 26 and the upper boundary of a descending trend channel. A bullish breakout above this level will expose the $2,400 mark en route to an all-time high near $2,432.
On the downside, any follow-through selling below the $2,300 psychological mark will see a drop to a low of May 3 and the lower limit of a descending trend channel at $2,275. Further south, the next contention level is located near a low of April 1 at $2,228, followed by the $2,200 round mark.
Comment:
Woow boooom enjoy the gold move on 80 pips 🎯🎯🎯 hits
Comment:
Woow boooom enjoy the gold move on tp 1/160 pips 🎯🎯🎯 hits running 🎉🎉🎉💯
Comment:
Gold second layer active
Comment:
Gold sell 50 pips running
Comment:
Gold confirmed signals
Exclusive Offers, Services & Signals IN Telegram Channel
Join free telegram channel
t.me/universaltrader_009
huge profitable trades Knock on your doors join my telegramchannel
t.me/universaltrader_009
Join free telegram channel
t.me/universaltrader_009
huge profitable trades Knock on your doors join my telegramchannel
t.me/universaltrader_009
