Next Area of Resistance for Gold: $1486
Gold prices are set to print a sixth consecutive weekly gain. The next area of resistance to watch out for falls at $1486.
Fundamental
Is the Fed Behind the Curve?
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.
Gold Prices Soar Higher Overnight on Dovish Fed
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.
Federal Reserve Signals Rate Cut for 2020
The highly anticipated Federal Reserve meeting resulted in forward guidance for a rate cut, however, not as the markets were expecting.
Gold Under Pressure Ahead of Fed Meeting
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 Price Daily Forecast – 100 Hour MA is in Play
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.
Gold CoT Data – Net Long at 14-Month High
Quick Stats on Gold Positioning The net long position among speculators rose 28.1K contracts to…
Gold Weekly Price Forecast – Is Gold Breaking Out?
Gold traded at a 14-month high in the past week and threatened a breakout that could have had significant long term bullish implications. However, the yellow metal retreated in the late week to give back the entire weeks gain.