Locus1996

Locus1996 Updated 

Gold price (XAU/USD) loses momentum around $1,920 during the early European session on Monday. Meanwhile, the US Dollar Index (DXY) attracts some buyers and hovers around 105.60, near the highest level since March 2023. Gold Sell 1924-28 Target 1904

Locus1996 Updated 

Gold price is recovering ground from the weekly low of $1,914 ahead of a busy Friday, packed with preliminary global PMI data releases. The United States Dollar (USD) is taking a breather even though the US Treasury bond yields are setting fresh multi-year highs. Gold Sell 1925-28 Target 1900

Locus1996 Updated 

Gold tested the $1,900 area this week, influenced by the latest US economic reports, but it managed to hold above and rebounded, erasing weekly losses and reaching the $1,930 zone. The overall bias remains tilted to the downside, with the strong US Dollar weighing on the yellow metal. Gold Sell 1926_30 Target 1900

Locus1996 Updated 

Gold awaits the Fed and Bull Cross confirmation Gold price is off the two-week high at $1,937, treading water near $1,930 early Wednesday, as buyers eagerly await the US Federal Reserve (Fed) interest rate decision for resuming the recent uptrend. Gold buy 1929- 25 Target 1950

Locus1996 Updated 

Gold price closed Monday above the all-important 50-Daily Moving Average (DMA) at $1,932, confirming a bullish reversal from three-week lows. Therefore, the further upside now opens up toward the September high of $1,953 should Gold price manage to take out the mildly bullish 100 DMA at $1,945 on a sustained basis. Gold buy from 1934-30 Target 1950

Locus1996 Updated 

Gold price yielded a weekly close above the all-important 200-Daily Moving Average (DMA) at $1,922 on Friday, opening doors for more gains. However, Gold buyers need to scale a powerful resistance aligned at $1,1932, the 50 DMA, to confirm a bullish reversal from three-week lows. The psychological $1,950 level will be next on Gold buyers’ radars. Ahead of that,...

Locus1996 Updated 

Gold extends gains toward $1,920, focus on US economic data Gold price extends gains on the second day, trading higher near $1,920 per troy ounce during the early trading hours of the European session on Friday. The pair is receiving upward support, likely attributed to a slight correction in the USD. Gold buy 1917 Target 1921 Target 1928 Target 1935 Sl 1906

Locus1996 Updated 

Following a bearish opening to the week, Gold price stabilized above the key 200-day Simple Moving Average (SMA) located slightly below $1,920. In case this support stays intact ahead of next week’s highly-anticipated August inflation data from the US, investors could hesitate to bet on further XAU/USD weakness Gold buy 1906 Target 1910 Target 1920 Target 1930 Sl 1894

Locus1996 Updated 

Gold price consolidates as investors await US inflation report Gold price struggles for a decisive move as investors turn cautious ahead of the US CPI data for August. The precious metal remains on tenterhooks as market participants see headline inflation rebounding due to a strong uptick in gasoline prices. Gold buy 1911 Target 1920 Target 1925 Target 1935 Sl 1900

Locus1996 Updated 

From a short-term technical perspective, nothing seems to have changed for Gold price, as it is likely to extend its range trade between the horizontal 21- and 50-Daily Moving Averages (DMA) at $1,917 and $1,932 respectively heading toward the US CPI release. The 14-day Relative Strength Index (RSI) is trading listlessly just beneath the midline, keeping Gold...

Locus1996 Updated 

Gold testing bullish commitments, will 21 DMA hold? Gold price is bouncing back toward the $1,930 round figure, having found fresh demand once again near the $1,915 region. Gold price is capitalizing on a renewed correction in the United States Dollar (USD), despite a mixed market mood and a rally in the US Treasury bond yields. Gold sell now 1928 Target...

Locus1996 Updated 

Market participants might also prefer to wait on the sidelines ahead of China inflation data and the G20 leaders summit over the weekend. Hence, some follow-through buying is needed to confirm that the recent pullback from a one-month peak, around the $1,953 area touched last Friday, has run its course. Bears, on the other hand, might still wait for a sustained...

Locus1996 Updated 

Gold price touched its highest level in a month above $1,950, gaining more than 1% for the second straight week. The yellow metal benefited from retreating US yields after disappointing employment-related data releases from the US. Gold buy 1925 Target 1935 Target 1945 Target 1954 Sl 1910

Locus1996 Updated 

Gold hovers around 200-day SMA, upside potential seems limited Gold price gains some positive traction on Thursday, albeit lacks follow-through. A softer risk tone benefits the safe-haven XAU/USD amid subdued USD demand. Bets for more Fed rate hikes to act as a tailwind for the buck and cap the upside. Gold buy 1920 Target 1925 Target 1930 Target 1943 Sl. 1903

Locus1996 Updated 

Gold oscillates between $1,935 and $1,915, US PMIs eyed Gold Price seesaws within a key trading range despite the previous day’s heavy loss. Fears of economic slowdown in Beijing contradict US soft landing chatters and weigh on the Gold Price. US ISM Services PMI, Fed talks eyed for fresh impulse. Gold buy 1926 Target 1930 Target 1935 Target 1940 Sl 1915

Locus1996

Gold price touched its highest level in a month above $1,950, gaining more than 1% for the second straight week. The yellow metal benefited from retreating US yields after disappointing employment-related data releases from the US. Gold buy 1936 Target 1940 Target 1944 Target 1953 Sl 1925

Locus1996

Gold attempts another run to take out 100 DMA at $1,954 Gold price is kicking off a holiday-shortened week on a firm footing early Monday, having witnessed volatile trading on Friday. The United States Dollar (USD) is consolidating the previous week’s solid recovery, as the dust settles over the US Nonfarm Payrolls aftermath. Gold buy 1945 Target 1949 Target...

Locus1996 Updated 

Gold price consolidates ahead of key labor market, factory activity data Gold price remains calm before the US Nonfarm Payrolls (NFP) and ISM Manufacturing PMI data for August, which will set an undertone for the Federal Reserve’s (Fed) interest-rate decision to be taken on September 20. Gold buy 1944 Target 1950 Target 1960 Target 1980 Sl. 1925