Gold trades higher on easing rate hike hopes,good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
203 0 4
Gold             is consolidating in a narrow range between $1248 and $1239 after a massive jump on Friday. The Bullion is currently trading at $1243 level.

The precious metal has outperformed all other asset classes at the start of the year as a safe haven in the face of crisis.

U.S jobs data which has been released on Friday shows that Fed unlikely to raise interest rate in the near future.

The latest Brexit referendum polls show the leave campaign in the lead. If UK votes to leave the EU, it may be followed by France and other EU nations, which puts more pressure on Euro             currency.

Technically gold             is bullish as long as support $1205 (90 week EMA ) holds. Any weekly close below $1205 will drag the pair down till $1175/$1160/$1100.

On the higher- side any break above $1251 will take the bullion till $1264/$1270/$1300.

Gold             minor support is around $1235 and any break below targets $1228/$1225.

It is good to buy at dips around $1225 with SL around $1200 for the TP of $1264/$1300
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out