Time to trade dark horses of the metals market?
What are the forecasts for silver, platinum and palladium?
Gold: calm before the storm?
Information is not investment advice
On one hand, the gold intraday range is broad, on the other hand, its week range is narrow. What’s the reason?
On April 6 XAU/USD dropped dramatically. The first reason is that most countries have started to ease their lockdowns and slowly reopen their economies, what gets the risk appetite up, though the number of coronavirus cases continues to rise. Another reason is the strong US dollar.
As we can see at the chart below the 50-period moving average crossed the 100-period moving average upside down, that was the signal to sell. The gold price fell below 1690, but it’s still above the 200-period moving average. The most probable scenario that it may touch the recent low on 1672, reverse and move up after the short pullback. We know from the past, when gold volatility falls but gold prices do not follow, it will lead to further rally up. The resistant line is 1705.
Similar
USD/CAD: ahead of US jobless data and Powell’s speech
USD/CAD continues dipping. Follow US jobless claims and the speech of Fed’s Powell!
Trump, impeachment, USD
How may the USD be impacted by the impeachment process? Read and prepare.
Popular
Gold: trade the sideways move
How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!
$1.9 tln stimulus is unlikely to support the USD in long term
US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
Time to trade dark horses of the metals market?
What are the forecasts for silver, platinum and palladium?
Choose your payment system
