The price of gold is seen declining in the early week after news over the weekend of a trade truce between the US and China.
A set of Fed speeches triggered a bounce in the dollar yesterday and a bit of selling pressure in gold.
Gold prices are set to print a sixth consecutive weekly gain. The next area of resistance to watch out for falls at $1486.
The futures markets have been aggressively pricing in rate cuts but the Fed has only signaled for 30 basis points in cuts next year… so far.
The Fed meeting on Wednesday provided the catalyst gold needed to make a significant break that sees the yellow metal trading at levels not seen in around half a decade.
As a safe haven asset, gold retains its value in times of financial, political, or…
Gold has had rallies capped by upside resistance at $1350 over the past 24 hours but at the same time is holding the downside. Today’s Fed meeting will be an important one and the yellow metals should take its direction from it.
Gold has completed an inverted head and shoulders pattern and is pushing against some important resistance at the start of North American trading.
A technical pattern is in play for Gold prices that suggests some upside over the near-term
The price of gold trickled lower in early European trading on Monday. A support confluence is currently being tested and stands to trigger a bounce.