Gold price rose to a fresh monthly high of $1832 on Thursday. The recent bullish move supported by the renewed coronavirus surge in many parts of the world and a sharp rise in U.S inflation. In the short-term If the bullish momentum continues the next upside levels to watch $1836/40.
Gold price trading below the 1770 support area. If the bearish momentum continues the next downside levels to watch 1760 then 1755/45. On the flip side, the 1795/97 level remains a crucial resistance to watch.
The metal slightly rebounded after the previous session sell-off. For today, the gold price supported at $1790. On the upper side, the immediate resistance around 1830/32 any break above this level will open 1842.
Gold price faces downside pressure after it failed to hold above 1900.
If the bearish momentum continues the next downside levels to watch today the 1885 and 1878 zone. On the flip side, the immediate resistance at 1900/05.
With less than a few hours left for the release of minutes from the US Federal Reserve’s April policy meeting, the Gold price hovers below the weekly high of $1875.
Read my detailed report here- https://gulfbrokers.com/en/will-fomc-minutes-drive-gold-lower
GOLD price trading near the crucial trend line resistance area 1860. If the price break above 1860 the next upside levels to watch 1875 and 1890. On the flip side, the immediate support at 1843 followed by 1816/00.
Hello to all, I will post here my daily plan and analysis for Gold.
Gold is targeting 1842.02/1843.57 where I expect it to find resistance and I will short with
1. target 1833.36
2. target 1826.36
I am watching 1796.71 as next target until the end of the week, possibly Wednesday.
In this year, the gold prices have surged more than 35% supported by geopolitical tensions, a weaker US dollar and mounting numbers of coronavirus cases across the globe.
GOLD -80$ down today, currently testing $1940, break below this level the next support at $1920 (previous all-time high)...
GOLD price trading sideways on Monday. On Friday the yellow metal dropped more than $50 after better-than-expected U.S. NFP data.
Crucial levels to watch this week:
Support: $2015 & $2000
Resistance: $2055 & $2070
Gold price at the decision point. Watching $1790 and $1818 for this week. If the price break above $1818, the next level to watch $1830/36. On the other side break below $1790/92 will open doors to $1780/74 followed by $1760.
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Gold price trading sideways supported by $1680. Any break below $1680 will open $1650 & $1630. On the other side break above $1720 opens $1735 & $1750.
Important levels to watch this week
Support: $1680 and $1660
Resistance: $1720 and $1735