Gold finally conquered $1300 with a large green weekly bar of $33 amidst geopolitical tensions between North Korea and America resurfacing on account of yet another missile test conducted by North Korea in the early part of the week. Gold was trading with positive bias well above the $1300 level before the news came. Gold finally made a high of $1328 on the last...
Gold saw a steady week with sideways to upward movement in prices as it gained almost $5. Gold had a single volatile day in the week (Friday) where it swung over $13 on both sides in a matter of minutes due to a crucial Special Fed commentary in which the rate hike possibilities were nullified thus fueling the gold prices. Gold had a positive closing which...
Gold closed flattish with a minor negative return after withstanding a week full of volatility. Gold plummeted nearly $24 in the early half of the week then recovered fully to hit fresh 9 month highs above the psychological $1300 barrier but failed to sustain as selling pressure pushed it back towards the support during the close. Gold was subject to the...
Gold soared $30 amidst geopolitical tensions after a week of consolidation as the dollar index remained near the lows. Gold completed the pattern of Triple Top when it hit the high of $1297 from where it retreated which was on expected lines. Gold can now head higher only if its able to cross the triple top pattern on a conclusive basis. With the pattern completed...
Gold broke the winning streak as it settled lower by $9 on account of better than expected data from America which fueled up the dollar index from its lows. Gold marginally closed lower from the crucial bullish support of $1261 but even such a minor hiccup might cause the metal to gain plenty of reasons for a corrective move. Though no big moves are expected but...
Gold saw a rise of more than $25 in the week owing to a weakening dollar index due to poor data coming from America and heightened risks in the global equities due to very high indices which seems to be overbought. The rally was more on the back of technical grounds after it bottomed out near $1200, now retracing back according to Fib levels. If gold manages to...
Gold rose over $15 in the past week recovering from a massive fall as it rebounded from its long term support area. This rally was largely on back of dismal data coming from America which pushed the dollar index to new lows thus pulling up the yellow metal prices. Gold climbed back into its trading range of $1215-$1297 as shown in the chart below. Weekly chart is...
Gold crashed over $30 in the past week breaking all supports broadly on account of Hawkish Fed minutes and better than expected data coming out from America. Incremental selling was visible from start of the week and there was no respite for the yellow metal as it continued its downward trend going below its long time support of $1208 but settled a bit higher...
Gold resumed its slide as price cracked over $20 on first day of the trading week before settling with loss of under $10 on the same day thus showing the importance of the support at $1241 after which it consolidated in this price range. Gold for the week closed above the support of $1241 which was expected with a cut of another $16 as better than expected data...
Gold staged a stellar recovery from the lows of $1240s to close significantly higher at $1256 adding gains for the week. Gold fell to a 5 week low in the start of the week but managed to plow back the loss as buying at lower levels was clearly visible along with poor data coming out of America which aided the metal to erase the losses. Gold broke the bearish...
Gold saw a crack of more than $14 on the back of hawkish commentary by the U.S Fed after it raised interest rates by a quarter of a percentage. Gold was trading higher in the early part of the week, and after the event it started a downward journey which broke through multiple supports but still is above a very critical mark of $1247 which if gives way selling...
Gold posted negative returns after 4 weeks with a crack of over $10 in a volatile week of trade. Start of the week saw gold rising to new highs after which it slammed brakes on gains and reversed from the high point in later half of the week falling so much so that it even eroded gains of earlier week. The candle created is a bearish one on weekly basis but it can...
Gold posted incremental weekly gains of over $12 which was broadly on account of bad data coming out of America which helped subdue fears over a possible rate hike by the U.S Fed in this month. Week was again a range bound one with the prices traveling between $1259-$1272 until last day when gold broke through the ever crucial $1272 conclusively which helped in...
Gold was fairly volatile in a range in the previous week but managed to gain nearly $10. Gold was stuck in a range of $1247 and $1269 as in early part of the week gold tested the bottom of the range whilst tested the high on the later half of the week. Such range bound weeks often indicate loss of direction but this time it was showing bullishness in the prices...
Gold rose nearly $30 in the last week over worries of political uncertainty surrounding U.S president Donald Trump’s election. Gold added incremental gains from start of the week as demand for the metal spurred due to uncertainty clouds. Gold rose from $1226 to a hit a high of $1265 where it found a resistance due to pattern completion of Head and Shoulders before...
Gold ended flat with little movement of a % point on either side in the last week which is a normal consolidation after big moves as seen earlier. In the early half of the week gold slid towards $1214 but regained from the lows to a high of $1236 in the later half before settling at $1228 which is as flat as it could get keeping the guessing game going for both...
Gold saw a big fall of over $40 last week as the selling pressure was incremental from the start of the week. A massive weekly red bar indicates that gold is not seeing buying at higher levels rather shorts are attracted there combined by lack of news flow regarding uncertainty over the Korean Peninsula which was one of the key reasons for the metal to fall off...
Gold was very volatile last week where it fell from the highs of $1285 to a low of $1260 before settling at $1268. Gold gapped down on opening due to French election outcome followed by incremental selling which saw a brief buying at lower levels. This was sold into yet again pushing the prices lower to create a a double bottom which gave support to the metal thus...