Gold: as high as old
Where are we going with gold? Let's make a step back - or, rather, travel back in time to throw a strategic look at the gold price.
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
GBP/USD is eyeing 1.30
The British pound is climbing up for the 7th day in a row. Will it keep rallying?
USD: end of supremacy
Is the USD going to lose its badge of a primary safe-haven currency? In the coming months, very possibly.
Popular
Stock futures drift lower as earnings expected
With the pandemic claiming about 1000 lives a day in the United States, many departments said they lack the money and the staff to identify people who have been exposed, according to a survey of a 121 local agencies.
The next stimulus bill in the United States
The focus is on the ongoing negotiations of the next stimulus bill in the United States, which do not seem to move forward.
Stocks futures rose on Monday
Stocks futures rose on Monday, indicating a higher start to the first session of August.
Choose your payment system
