Gold formed an inside bar as it consolidated with cuts of $3 after posting big gains in last couple of weeks. Both the support and the resistance was tested in a comparably smaller range week of $17. The price found buying near $1300 which propelled it back above the support level suggesting the base formation at $1300. On the chart – Gold tested the support...
Gold continued its bull run expanding towards the next resistance area rising $14 for the week. The week was another big one in terms of range where gold nearly managed a $30 bar from highs to lows. With $1300 now setting up as a big support along with supportive fundamentals aiding the prices it does seem a new high is on the cards in the current year. On the...
Gold reclaimed $1300 after eight months in an expansive week breaking out of the triangle which it had got stuck in the current month. The week was first big green candle of 2019 where gold posted gains of $22 on the back of a falling dollar setting the momentum back for the bulls. A closing above $1300 itself is a very bullish scenario keeping aside the...
Gold continued to consolidate by yet again forming an inside bar, saw its first weekly decline of 2019 as it closed with cuts of nearly $6. A mix of global fundamental news helped gold sway $15 from highs to lows as riskier assets saw a surge in demand on the last day of the trading week. The momentum is tapering off for the bulls but the trend hasn’t changed as...
Gold formed an inside bar as it continued to consolidate gaining nearly $3 for the week where it swung $17 from highs to lows finally closing well above the support. The movement was data driven due to the volatility in dollar index caused mainly by American fundamentals. Even in such a week bullishness was the winning trend as the long term trendline was...
Gold continued its bull run as it nearly tested $1300 in the week but retraced back to close with gains of over $4. The weekly move tested the support of the long term trendline which turned out to be a big demand zone as expected. With the dollar index showing signs of exhaustion and gold having flag breakouts on upside, its creating a perfect scenario for the...
Gold finally saw the breakout as it rose more than $25 for the week nearly eliminating the loss seen in 2018. The move, which was again a vertical one was so ferocious that it even took out the high of previous week invalidating the double top pattern without any resistance. Such a kind of price action maybe due to the truncated week as volume remains thin in this...
Gold continued its uptrend by making a new high well above $1260 before settling for gains of over $17 for the week closing above the psychological $1250. The gains were fueled by geopolitical and political events mainly coming from U.S as investors fled from riskier assets. With the coming week being a truncated one on account of Christmas holidays and also being...
Gold made yet another high before retreating $10 for the week as consolidation and profit booking over took the major sentiment which is often seen after big weekly gains/losses and also highly likely given the time of the year which now draws close to the end sparking holiday mood. The coming week holds the last important event of the year and possibly the trend...
Gold made a new high which was earlier seen in the month of July gaining $26 for the week also registering the highest weekly gain in the second half of this financial year. Prices were aided by an influx of fundamental news as well as a weakening dollar on account of a surge in demand of the yellow metal as risk-off trade continues to unfold. A closing above the...
Gold faced another sideways week which was encapsulated between the support and the resistance. The range was bigger than the earlier week with price swinging $18 inbetween highs and lows accredited to the nature of the week which was full of important fundamental activities from which gold is to take cues in short/mid term. Important takeaway remains much...
Gold moved forward in its set path by $2 in a sideways week which is generally followed after a large movement. It remained rangebound stuck inbetween the support and the resistance in a not so lively week still exploring further highs which it was denied upon the closing. The week brings some cheer to the metal as it is marked by an important fundamental event...
Gold continued to flag gaining over $11 in another big range week where again a near $30 swing was visible. Gold took support at the flag’s low of $1196-$1198 while rising as high as $1225 which acted as a barrier making the price to finally settle at $1221 which is a good sign for the bulls as the support of $1217 showed strength.With political tensions cooling...
Gold had a terrible outing falling $23 in the largest bar created in last 4 weeks. Things responsible for triggering a safe haven selloff was a stalemate reaction to Iran’s sanctions and the extremely important mid-term elections which turned into a biggest disappointment for traders as markets hardly moved given the gravity of the event. The Fed’s policy again...
Gold had a week of consolidation and back-testing the supports after rising over $50 from the lows. It was again a big week where it swung over $25 from lows to highs, where it went as low as $1212 testing its breakout region while hitting the highs of $1237 testing its resistance. Probably the nature of the coming week might have prompted such a move as its...
Gold had another bullish week gaining more than $6 closing above its resistance at $1228. Week was another higher high and higher low one where gold moved over $23 testing the crucial $1243 whilst taking support around $1220 before closing at $1233. The continuous formation of this pattern along with testing next crucial levels does showcase the strength gold is...
Gold continued its uptrend as it rose over $8 for the week. The price action was a breakaway style one with $1217 taken out by a gap and this gap now becomes a key support. Uncertainties and rising political drama should fuel the demand for the yellow metal as Mid-Term elections are just few days away. Odds are extremely high for gold to create new highs every...
Gold finally broke its trading range as it rose over $14 for the week closing above $1215. The week was a big one where it moved nearly $45 from the lows to the highs where the gains were attributed to a sharp decline in the dollar index in the later half of the week. Gold made a 10-week high on account of risk-off trade being stepped up due to rising bond yields....