Metals: gold and silver

17:33 (GMT+3)

Gold finally breaks the crucial resistance

I will start this analysis by telling you that in the past few months, the movements on gold have been a bit, let's say, weird. Gold is not behaving as it has been over the past few years. The correlation between the USD and the risk ON/OFF mode seems broken. Gold is following its own path. Luckily, technical analysis works in any situation and this is what we will focus on now.

Metals: gold and silver

Tomasz Wisniewski

18:04 (GMT+3)

Gold has reached the first important resistance

Of all of the most popular instruments that you have on your platform, the most interesting situation can be seen on gold. This instrument has been mentioned here many times in the past few days, and our analyses were spot on! In our previous pieces about this commodity we said multiple times that gold is in the best place ever for a reversal, and here we are: the reversal is happening.

Metals: gold and silver

Vadim Iossub

10:51 (GMT+3)

Gold is showing unusual movement

Important events for traders are occurring literally before our eyes on the gold market.

Metals: gold and silver

Veselin Petkov

10:09 (GMT+3)

Mid-term trading idea XAU/USD – short position

I wrote yesterday that I would be looking to either buy or sell gold after the conclusion of the Federal Reserve’s meeting depending on their decision with regards to monetary policy. I decided to go with the “First option” that I described in yesterday’s review, i.e. to open a short position. The main reason for this is the softening of rhetoric from the Federal Reserve with regards to monetary policy. Yesterday, the US regulator issued an advance publication its new economic forecasts, in which it downgraded its “long run” projection for the key rate from 3.0% to 2.8%, as it had been previously.

Metals: gold and silver

Anna Bodrova

10:10 (GMT+3)

Gold Up by More Than 21% since Start of Year

Gold has been rising continuously since the beginning of this year, although the intraday fluctuations seem rather large scale and the correction phases seem like a full on inversion of the trend. However, the rising channel for gold seems stable. Since January 2016 to date, gold has increased in value by 21.4%; travelling from $1,061.50 to $1,289 for a troy ounce. The potential for a continuation of growth is enough for the long position target to be set at $1,400 per troy ounce buy the end of the year.