Locus1996

Locus1996 Updated 

Gold price (XAU/USD) struggles to capitalize on its intraday gains to the $2,052 area and retreats from a near seven-month top touched earlier this Wednesday. Gold buy 2035 Target 2060

Locus1996 Updated 

The downside for the Gold price, meanwhile, remains cushioned in the wake of growing acceptance that the Federal Reserve (Fed) is done raising interest rates. Moreover, the markets have been pricing in the possibility of a series of rate cuts in 2024. This should cap the upside for the US bond yields and the Gold buy 2014 Target 2030

Locus1996

Gold price maintains its position above $2,010 per troy ounce during the European session on Monday. The US Dollar's weakness, fueled by increasing speculation that the Gold buy 2014 Target 2043

Locus1996

However, Gold price needs a daily closing above the $2,000 threshold to sustaining a meaningful uptrend, with the immediate resistance seen at the multi-month high of $2,009. Fresh buying opportunities are likely to emerge above the latter, calling for a test of the mid-May high near $2,020. Gold buy 1993 Target 2029

Locus1996

From current levels, any subsequent move beyond the $2,000 mark might continue to confront stiff resistance near the $2,007 area. Some follow-through buying, leading to a subsequent breakout through the $2,009-2,010 Gold buy 1995 Target. 2013

Locus1996 Updated 

The daily chart of XAU/USD shows a bias towards the upside, supported by technical indicators such as Momentum crossing the midline and the Relative Strength Index (RSI) moving north, still comfortably away from overbought levels. However, an important resistance level emerges around $2,010, an area Gold buy 2001 Target 2014

Locus1996 Updated 

If Gold buyers find a strong foothold above the $2,000 threshold, the next resistance level could be seen at the November 3 high of $2,004. Gold buy 1984 Target. 2000

Locus1996 Updated 

Gold price is challenging bearish commitments while flirting with the 21-day Simple Moving Average (SMA) at $1,975, having pulled back sharply from multi-day highs on Friday. A failure to defend the latter on a daily closing basis could fuel a fresh downtrend toward the static support in the $1,955-$1,950 region. Gold confirm sell 1960 target

Locus1996

The next upside barrier is seen at the descending trendline resistance of $1992, close to the November 6 high of $1,993. Acceptance above the latter will prompt Gold buyers to challenge the $2,000 mark. Further up, the static resistance around $1,905-$1,910 will be put to the test. Gold confirm target 1909 Enjoy free signals

Locus1996 Updated 

The 21-day Simple Moving Average (SMA) at $1,975 remains a tough nut to crack for Gold buyers. However, the 14-day Relative Strength Index (RSI) remains above the midline, keeping Gold buyers hopeful. Gold buy confirm target 1984

Locus1996

Gold price is extending soft US inflation data-led gains toward $2,000. US Dollar is struggling to find its feet alongside US Treasury bond yields Follow My target confirm target 1987

Locus1996 Updated 

Gold price rebounded firmly from the critical 200-day Simple Moving Average (SMA) at $1,935 on Monday but remains at risk of further decline as the 14-day Relative Strength Index (RSI) continues to hold below the 50 level. Daily closing below the latter is needed to fuel a sustained downtrend. The initial demand area will be then seen near $1,925, where the...

Locus1996

Gold price struggles for a direction ahead of the US consumer inflation data for October. The near-term demand for the precious metal remains downbeat due to multiple headwinds. On a daily time frame, the correction in Gold price has extended to near the 50-day Exponential Moving Average (EMA), which trades around $1,940.00. Next support for the yellow metal is...

Locus1996

Gold staged a deep correction this week, declining to its lowest level in nearly a month below $1,950, after several failed attempts to stabilize above $2,000 earlier this month. Next week, several high-tier data releases from the US – including the Consumer Price Index (CPI) for October – and comments from Federal Reserve (Fed) officials could drive XAU/USD’s...

Locus1996

Gold price started the week on a bullish note and climbed to its highest level since early September near $1,950 before reversing its direction in the second half of the week. Pressured by rising US Treasury bond yields, XAU/USD dropped below $1,920 on Thursday Gold Sell 1861 Target 1831 Sl 1881

Locus1996 Updated 

From a technical perspective, the Relative Strength Index (RSI) on the daily chart has just started drifting in the oversold zone and helps limit the downside for the Gold price. The subdued range-bound price action, meanwhile, might still be categorized as a bearish consolidation phase and the lack of any buying interest suggests that the path of least resistance...

Locus1996 Updated 

The further downside appears more compelling, as the 50 DMA has crossed below the 200 DMA, confirming a Death Cross a day ago. Additionally, the 14-day Relative Strength Index (RSI) indicator is lurking below the 50 level, justifying the bearish potential in Gold price. However, a dead cat bounce cannot be ruled out given that the Gold price has fallen hard in...

Locus1996 Updated 

Gold price started the week on a bullish note and climbed to its highest level since early September near $1,950 before reversing its direction in the second half of the week. Pressured by rising US Treasury bond yields, XAU/USD dropped below $1,920 on Thursday Gold buy 1911 Target 1929 Sl 1900