Gold prices have broken hard to the upside during the trading session on Wednesday to finally clear the key $1,835 resistance level – a boon for gold owners, who have been surprised at the yellow metal’s flat price performance in the face of persistent inflation data. Gold has now broken out of a 5-month range …
Gold Markets Break Out as U.S Inflation Hits Highest Level Since 1990 Read More »
Gold prices jumped above the key price point of $1,812 on Friday last week, buoyed by the fact that inflation fears were ignited once again when the U.S. Labor Department said that wages saw a 4.9% annual increase in October. Investors were also spooked by uncertainty over the Fed’s next move, as expectations mount for …
Gold’s Path of Least Resistance Appears Up as Prices Breach $1,812 and Eye $1,832/oz Read More »
Gold prices continued in a ‘fade the rallies’ type market – moving back and forth in mini rallies and slumps between the $1,750 and $1,800 range. The safe haven continues to trade then in a narrow band, seeking a break either up or down, which would firstly require a major move in the U.S dollar. …
Gold prices continue to trade around the $1,800 mark and, more broadly, seem to be sandwiched between the band of $1,750 and $1,830/oz. This range-bound behaviour appears to be a ‘friendly’ area between two groups of buyers and sellers – those holding up the $1,700 mark firmly and those suppressing anything above $1,812/oz. This is …
Gold Continues to Dance With $1,800 on Mixed Global Data & SA Petrol Prices Hit Record Read More »
Gold prices broke out the past week on strong fundamentals – reaching a high of $1,812/oz on Friday. From a technical perspective, prices should now be supported at 1,792, with additional support seen near the 50-day moving average at 1,781. Resistance is seen near the September highs at 1,830/oz. Federal Reserve Chair Powell and …
Gold Prices Rally Above $1,800 as Fed Admits Inflation Expected to Remain Read More »
After a stellar previous week, where gold prices gained nearly $45 dollars and ended the week testing the $1,800/oz mark, prices have since moderated in the new week to the $1,770 level. The pullback during the new week was a healthy consolidation of strong gains from the previous week, and was largely driven by higher …
Gold Trims Gains on Higher Treasury Yields but Remains Range-Bound Read More »
Gold prices soared on Wednesday, gaining a massive $37 (+2%) intraday to $1,796/oz after U.S September CPI data showed that inflation increased 5.4% year-over-year in the U.S – above forecast figures. U.S Fed meeting minutes for September were also released, which merely confirmed signs for a potential November tapering of the central bank’s ‘emergency’ bond-buying …
Gold Soars to $1,800 on U.S CPI Data Stoking Fears Over Rising Inflation Read More »
Gold prices ended the previous week spiking above the $1,780/oz mark on the back of disappointing U.S payrolls data, and has further been looking to stabilise with eyes on a bullish correction toward $1,800. The jump came as a result of a big miss in U.S employment data when a report for September U.S …
Gold Remains Range-Bound After Continued Strength on Weak U.S Jobs Surprise Read More »
Gold prices rallied close to the $1,770/oz mark during the week, but have since consolidated this recovery to remain in a broader trading range of between $1,750 and $1,770/oz. The safe haven was boosted on the back of Dollar woes amid optimism in markets that Sino-American relations are improving, a likely U.S debt ceiling …
Gold Consolidates Previous Recovery Above $1,760 as Treasury Yields Keep It Range-Bound Read More »
Gold prices got a boost in the new week, capitalising off of the previous week’s gains where gold prices jumped more than $40 to above the $1,750/oz level again. The safe haven continued its uptick into the new week on worries that the recent rally in crude oil will stoke inflation fears further. Gold is …
Gold Capitalises on Recent Gains Above the $1,750/oz Mark Read More »
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