Gold closed at a six year high after gaining more than $57 in a monumental week which spanned nearly $80 in terms of range making it the biggest week since November 2016. Gold not only crossed $1400, it broke through multiple technical patterns which makes it supremely bullish. Fundamentally this breakout happened due to geopolitical concerns arising from U.S –...
Gold consolidated after huge gains in yet another another big week with range of over $38 with actual movement of less than a dollar. Such a move created an indecisive candlestick or a spinning top which is par on course as next week contains very important event of – “Fed’s interest rate decision” which will shape the future path of gold. The fundamentals remain...
Gold posted massive gains of $35 in the week which was having a range of $43 making it the biggest week of 2019 and the highest weekly gain in last 3 years. Gold zoomed towards the highs in the fear fueled rally assisted by a near certainty of a rate cut by the Fed later this month due to appalling data which signaled intensive slowdown. The resistances were taken...
Gold finally made a decisive move as it broke out from the flag on the upside changing the trend to bullish after more than 2 months. The consolidation which it was in from past few weeks ended with a massive move of $21 happening on the upside with gold ending well above the psychological $1300 mark. The week was a huge one with the candle having a range of more...
Gold remained sideways trading in its set range with consolidation spilling into 5 straight weeks. The yellow metal had a weak start to the week but ended with gains of $7 without the support of lower dollar as global tensions weighed again. Point to note : Gold has been unsuccessful to give a weekly closing above $1286 after repeated tries over last few weeks...
Gold had a big week ranging over $28 finally ending with cuts of $8 closing near the lows of the week. The metal saw a huge upward rally on day one closing over crucial $1300 which was erased completely by following 4 down days resulting in failed attempt to break through the flag/pattern thus encouraging the bear cartel to persevere with the trend. The rejection...
Gold continued to consolidate in $15 range but this time the expansion was on the upside unlike the previous weeks, finally closing with gains of $7. The uptrend was halted as the price action created a double top formation directly inverse to previous week’s double bottom formation which continue to suggest the trend still remains bearish in-spite of favorable...
Gold continued to trade in the defined range similar to the previous week ending with cuts of more than $6. The week saw gold getting battered towards the low again as the Fed’s policy outcome was dovish for the dollar. The week again has important fundamental news majorly the U.S – China trade talks which is presumed to be at the last level of round of talks....
Gold made a new low before settling near the highs for the week. Again it was a $20-$22 ranged week where gold posted gains of $13 which can be considered as a retracement from the lows as prevailing situations did not alter much to enable a shift in the trend. The week has important fundamental events with the spotlight on Fed’s interest rate decision which will...
Gold continued its downtrend falling $15 in the week which again was a $20-$22 ranged one. The fresh decline raises the bar for further downside as technical support of a pattern gave way which was also retested it the week itself allowing it to become an immediate resistance for the price going ahead. Fundamental news keep coming out and last week saw the...
Gold continued to consolidate in a $20-$22 band with actual movement being less than a dollar maintaining the bearish momentum. The highs were sold into as risk-on re-emerged strongly owing to fundamental developments and better than expected data from America. The bar created looks very bearish and fresh lows are expected as tensions around the globe seem to take...
Gold had a muted week in terms of actual gain/loss as it was in consolidation after suffering a big red weekly bar in the previous week. The yellow metal moved in $25 range testing the support and the resistance ending with cuts of mere $1. Some notable events are lined up in the week ahead with “FOMC Meeting Minutes” being the most important one which can move...
Gold had another big week but this time on the downside abrogating the continued bullish trend by breaking through the support. The $40 week was an eventful one where the gold made a higher high at $1324 but eventually failed to capitalize by falling through $1300 with substantial ease testing the support at $1284-$1286 region credited to a rising dollar on...
Gold had another green week with gains of over $12 now comfortably placed above the $1300 level. The week’s bar was again a $20-$22 one which extended on the upside having touched the $1320 mark. A dovish Fed was the main reason behind the upmove which also will remain the biggest catalyst for the price moving forward given there will be no rate hikes in the...
Gold faced another week of consolidation where the price moved between a range of $21 finally ending with gains of $4. Both, the support and the resistance were tested as gold managed to conquer $1300 again on closing basis. The long term trendline was once again tested and the price bounced back suggesting it holds good value and acts as a massive protection from...
Gold had a suspenseful week where it broke through the long term trendline on the first day but eventually managed to close above it on the last day of the trading week thus keeping the trend intact as the support was once again respected. Gold had fallen a quick $12 before settling $5 higher for the week. Given the price action, it clearly suggests there is lot...
Gold suffered its worst weekly decline for the year erasing value over $34. The price took a nose dive on the last day of the trading week breaking the psychological $1300 with an ease and testing the support of the longterm trendline. This kind of movement can be taken as a pure price correction as the fundamentals still favor higher gold prices and even the...
Gold resumed its uptrend after 3 weeks breaking out of the consolidation with a gap up opening for the week and continued to trade above the highs of the previous week. The yellow metal saw a gain of $7 in yet another big range week of $26 which was stretching on the upside on account of the risk off trade as crucial fundamental events takes the center stage this...