After meeting a lower trend line of an ascending pattern for the second time, gold jumped on Tuesday. The surge paused only at the 1,285.00 level. In general, the metal's price was expected to continue the surge. Latest Notable Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth insights into the economic and financial conditions that influenced
The fall of the yellow metal, which was long expected, occurred on Friday. Namely, the price dropped ten dollar by 14:00 GMT on Friday. The fall though had ended, as the pair had encountered the lower trend line of a large scale ascending pattern. Latest Notable Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth insights
By the middle of Thursday's trading gold remained near the levels, where it fluctuated throughout this week. In general, it was finding support in the technical levels at the 1,291.60 mark. However, additional gains were most likely going to be limited by a descending pattern's trend line. Latest Notable Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide
On Wednesday, gold prices were signalling that they are about to decline, as the commodity price was piercing the support of the 200-hour simple moving average. On the hourly chart, there are no other support levels besides the mentioned SMA as low as the 1,280.00 level. Latest Notable Fundamental Event The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth
Gold prices on Tuesday remained near the previous trading session levels. However, it was getting squeezed in between technical levels. The event was signalling that a break out might occur in the near future. If one watched the patterns on the daily and hourly chart, it can be observed that it is more likely that the pair will break out to
The volatility of the yellow metal increased in the second part of Monday's trading. The metal's price dropped back down to the support of the 100 and 200-hour simple moving averages at the 1,289.00 level. The event caused another surge, which was set to surge and once more test the upper trend line of a channel down pattern, which can be
The yellow metal on Friday was trading in accordance with technical tools. Namely, the 200-hour simple moving average had forced it into a surge, which had reached higher. After a too extended surge the metal declined down to consolidate its gains. The retracement downwards stopped at the 23.60% Fibonacci retracement level at the 1,291.57 level. In general, the surge was expected to
The yellow metal jumped in a range of twenty USD during the last twenty four hours.
The support provided by the 200-hour simple moving average has been passed. The metal is expected to decline.
On Tuesday morning the yellow metal found support in the 200-hour simple moving average at the 1,282.00 level.
The yellow metal on Monday traded above the 1,290.00 level, where it was supported by a Fibonacci retracement level.
On Wednesday, the yellow metal touched the 1,290.00 level.
The yellow metal has reached above the long targeted 1,260.00 level, which was broken, as the metal reached above 1,265.00 level.
Initially, as the US hiked their interest rates on the USD, gold prices dropped dwon to the 1,242.00 level.
The yellow metal remains in the borders of an ascending pattern.
On Tuesday the yellow metal's price was testing the resistance provided by the 1,250.00 mark.
The medium scale pattern of the daily chart is holding its ground. Namely, it forced the metal into a rebound on Friday.
The gold charts were reviewed on Friday. Although, the junior pattern was broken a couple of hours after the review.
The recent surge failed to pass the 1,250.00 level.
The yellow metal declined down to the 1,242.00 level, where it found the needed support to continue its surge.
After reaching the 1,250.00 level the yellow metal began a retreat down to the previously passed Fibonacci retracement levels.
The resistance at 1,241,40 has been pierced.
Another attempt to pass the resistance at 1,241.40 was made just as forecast. Although, the pair did not pass the resistance level.
After reaching the targeted 1,240.00 level on Tuesday, on Wednesday gold prices declined downwards until they met with the support of the 55-hour simple moving average.