Gold Weekly Outlook
Gold Weekly Outlook
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Gold Price Stages Five-Day Rally for First Time Since March
The price of gold trades back above the 50-Day SMA ($2664) as it stages a five-day rally for the first time since March.
Gold Price Forecast: Has Gold Topped?
Gold has now put in two consecutive red bars on the weekly and that’s been rare as there’s only been two other occurrences of such in the past seven months. But it’s still too early to say that the metal has topped.
Gold analysis: XAU/USD rebounds as Trump’s lead narrows
Gold has started a busy week on the front-foot, after finishing last week on a downbeat note. The recovery is due in part to a weaker US dollar as investors have evidently scaled back some Trump trades – which also explains the gap seen in the EUR/USD pair we saw overnight .
Gold forecast: XAU/USD eases US election keeping US dollar bid
The yellow metal ended Friday near its session lows, creating some bearish-looking price candles on both the daily and weekly time frames. So the near-term gold forecast is somewhat bearish ahead of the much-anticipated US presidential election and the FOMC’s policy meeting in the week head.
Gold Price Forecast: RSI Falls Back from Overbought Zone
The price of gold may consolidate over the remainder of the month as the Relative Strength Index (RSI) falls back from overbought territory.
Gold Bulls Drive the Bid Ahead of Expected ECB Rate Cut
It was last month’s ECB rate cut announcement that triggered a bullish breakout in gold beyond the 2530 level, and bulls didn’t really look back at all until the 2600 test at the FOMC rate cut announcement.