MrGold55

MrGold55 Updated 

The anticipation of the Fed's dedication to a more stringent monetary policy, potentially involving additional interest rate hikes or tightening measures, is expected to discourage traders from placing bold positions on non-yield assets like yellow metal. Monetary policy decisions and the Fed's communications will remain focal points for buck movements in the near...

MrGold55 Updated 

However, Gold traders will also pay close attention to the US Retail Sales and Producer Price Index data for fresh US Dollar valuations. All in all, Gold price braces for another day of volatile trading on the ECB verdict and the US economic data releases 🔥 set up gold price Gold buy 1903 Target 1930 Stop loss1890 👉 wish trader to manage your account well 👉 Take...

MrGold55 Updated 

Conversely, the immediate resistance is seen at the 50 DMA of $1,932, above which the 100 DMA hurdle at $1,949 will challenge bearish commitments. The static resistance of $1,970 and the July 27 high of $1,982 will be next on the radar for Gold buyers. Gold buy now 1919 Buy limit 1915 Target 1923 Target 1927 Target 1940 Sl 1910

MrGold55 Updated 

From a short-term technical perspective, Gold price is likely to remain confined between the horizontal 21- and 50-Daily Moving Averages (DMA) at $1,916 and $1,932 respectively in the lead-up to the US CPI showdown. The 14-day Relative Strength Index (RSI) is inching higher but remains just beneath the midline, having breached the latter last Friday. Therefore,...

MrGold55 Updated 

Gold looks to recapture 50 DMA at $1,932, as RSI flips bullish Gold price is building on the previous recovery early Friday, looking to reclaim the $1,930 round level. The United States Dollar (USD) sees an extended correction from six-month highs, tracking the US Treasury bond yields lower. Gold buy now 1925 Target 1940 Sl 1917

MrGold55 Updated 

It should be noted that the middle band of the Bollinger on four-hour (4H) joins the 50-DMA to highlight $1,930-31 as an extra filter towards the north. In the same way, the 200-DMA joins the Pivot Point one-week S1 and Fibonacci 23.6% on one-day to signal $1,918 as immediate support. It’s worth observing that the Fibonacci 38.2% on one-week and 161.8% on...

MrGold55 Updated 

The strength in the US Dollar alongside the US Treasury bond yields remains the key underlying factor weighing on Gold price so far this week. Following a holiday-thinned subdued trading on Monday, the US Dollar bulls regained the upbeat momentum on risk-aversion, fuelled by resurfacing global growth fears. Continued property markets and slowdown concerns from...

MrGold55 Updated 

Gold price falls to test $1,930 amid firmer US Dollar, yields Gold price is holding lower ground near $1,930, under pressure for the fourth consecutive day on Tuesday. Upbeat headlines from China, Country Garden fails to impress Gold buyers as US Dollar traces US Treasury bond yields higher ahead of data. Gold buy now 1930 Buy limit 1924 Target 1955

MrGold55

Gold price remains on track to take out the critical 100-Daily Moving Average (DMA) at $1,954, as the bullish 14-day Relative Strength Index (RSI) justifies the renewed upside. A firm break above the latter will put the static resistance at $1,970 under risk. The next relevant barrier is seen at the July 27 high of $1,982. On the downside, Gold buyers will aim...

MrGold55 Updated 

Gold price demonstrates a lackluster performance below $1,950.00 as investors await the US labor market data for further action. The precious metal oscillates near the upper portion of the Rising Channel chart pattern formed on a small term frame. The yellow metal stabilizes above the 20- and 50-day Exponential Moving Averages (EMAs), which indicates that the...

MrGold55 Updated 

Fed inflation may hinder Gold bulls' approach to $1,970 Gold Price holds steady at the highest level in four weeks during a four-day winning streak as market players await the key inflation clues from the US and Eurozone. That said, the recently downbeat US data have raised concerns about the Fed policy pivot and bolstered the XAU/USD price. Gold buy...

MrGold55 Updated 

Gold: Weak US ADP jobs data could drive XAU/USD above $1,950 Gold price is challenging three-week highs near $1,940 in Wednesday’s trading so far but the further upside depends on the upcoming top-tier US ADP employment data, especially after the JOLTS Job Openings data disappointed by a wide margin on Tuesday. Gold buy 1936 Buy limit from 1931 Target 1950

MrGold55 Updated 

Gold nears key $1,940 resistance amid US data focus Gold Price defends the previous weekly recovery, the first in five, as it rises for the second consecutive day amid the broad US Dollar weakness. Also adding strength to the XAU/USD rebound is the cautious optimism in the market, as well as the downbeat Treasury bond yields. You can sell from 1921 Target...

MrGold55 Updated 

Gold Price (XAU/USD) remains dicey after pushing back the bearish bias with the first positive weekly close in five. The Yellow Metal’s latest inaction could be linked to the market’s anxiety ahead of this week’s top-tier US inflation and employment clues. In doing so, the XAU/USD fails to cheer the latest retreat in the US Treasury bond yields and the US Dollar,...

MrGold55 Updated 

Gold positions for Jackson Hole speeches above $1,900 support Gold Price reverses from a fortnightly high while consolidating the first weekly gains, so far, ahead of the top-tier central bankers’ speeches at the Jackson Hole Symposium. In doing so, the bright metal bears the burden of the recently firmer US Treasury bond yields and the USD. Gold sell 1915 1900...

MrGold55

Investors remain worried about the financials of US firms as rising interest rates and higher inflationary pressures force them to scale down their operating capacity in accordance with a deteriorating demand environment. If this situation persists, labor market conditions are likely to deteriorate Gold have downtrend 1940

MrGold55

Gold price turns back-and-forth after recording a fresh swing low marginally below $1,885.00 on a daily time frame. For the past three weeks, each pullback move in the precious metal has been capitalized as a selling opportunity by market participants. The yellow metal trades below the 200-day Exponential Moving Average (EMA), which indicates that the long-term...

MrGold55 Updated 

Wednesday’s US economic calendar included the release of the US Housing Starts (MoM) data for July, which increased to 1.452M from the previous month's 1.398M. This exceeded the expected figure of 1.448M. Additionally, the Monthly Industrial Production rose of 1%, surpassing the projected growth of 0.3% and swinging from the previous month’s 0.8% decline. However,...