Friday's rally in gold price extended into the new week, with the metal continuing to test a potential resistance level. Both the $4,435 and $4,500 levels are near immediate resistance on the charts. Additionally, buyers have become more aggressive on the buy side since the metal dipped off its previous level. In the bigger picture,…
Gold is trading at a two-month high on Wednesday as July inflation beat estimates. The report was a relief to the Fed, easing concerns about raising its rate. The price of gold futures rose 0.8 percent to $4,478 an ounce, continuing its rally in a fourth session. Traders reacted to the report with silver falling…
Buyers bought off the support, but the rebound failed under the falling trend line. This leaves gold stuck between near-term demand and the broader bear structure. Gold traded in a narrow range after hitting the $4,020 level during the US session. One analyst cited resurgent geopolitical tensions with Iran for the move. A number of…
The gold price has stabilized at around $4,070 following a recent dip in value. Traders are keen to see if gold could maintain support above this level after the current consolidating formation. The charts reflect a current pause in selling after a slight slide from earlier highs, with prices remaining on support following an initial…
Momentum trading signals are mixed, and traders are evaluating recent bullish/bearish price action. Traders are closely watching key support and resistance levels as gold (XAU/USD) remains in a volatile range just above $4,120. Price action continues to be driven by short-term technical setups and intraday market action. Investors are waiting for direction changes to take…
Gold has bounced off of its recent lows as buyers appear around the $4,000 price zone, but technical traders aren't sure if the rebound is the start of a bigger reversal or simply the latest rally within a longer-term downtrend. Now, several independent chart studies are converging in that same spot to identify it as…
Both gold and silver entered into critical technical zones as they tried to consolidate after some selling pressure. Gold was able to break back above the $4,100 level, indicating an early move towards restoring short-term support. In the meantime, silver has settled for $58.20, with liquidation data indicating that competing pools of leveraged positions are…
Gold continues to be pressured on the break from a record high in January, with about 26% off its price. Both the latest charts are weak technically, as the price trades below previous support levels, and the rebounds are losing momentum. Both analysts, Ian Cooper and Ole Hansen, continued to see selling pressure, but with…
Gold has bounced off its recent sell-off, but that bounce is now up for an important test around $4,366. The common charts reveal that XAU/USD continues its efforts at stabilizing as it dips nearer to the $4,023 mark, at which point buyers took the price back above $4,300. Gold still hasn’t moved above several resistance…
The latest analyst charts show sellers retaining control below descending resistance, while several traders now focus on the $4,200 area for a possible reaction. Gold is approaching a major support test after an extended decline pushed XAU/USD toward the low-$4,300 region. Meanwhile, the market has not yet confirmed a durable recovery. Gold must first recover…