With the recent trade/political headlines renewing risk aversion, Gold prices take a U-turn from a three-month-old ascending support line while taking the bids to $1,489 amid Wednesday’s Asian session.
silver futures news
Spot Gold Price – Support Between $1487 to $1480 – Gold Silver Reports
Spot Gold Price – Based on this week’s price action and the current price at $1502.60, the direction of the December Comex spot gold on Thursday is likely to be determined by trader reaction to the 50% level at $1492.
Spot Gold Bearish Traders are likely to Aim Towards Testing the Target $1440 Level
Spot Gold Bearish traders are likely to aim towards testing the $1440 support area. Gold maintained its bid tone through the mid-European session on Wednesday and for now, seems to have snapped four consecutive days of losing streak.
Gold Spot If Close Below $1480 Sell MCX Gold Again 100–500 Lots – Neal Bhai Reports
Gold Spot If Close Below $1480 Sell MCX Gold Again 100–500 Lots – Neal Bhai Reports
News that the U.S. and China agreed to work toward a fresh round of trade talks next month provided a boost to the U.S. and global stock markets, and a stronger-than-expected private-sector employment data also helped to ease worries about a slowdown in the economy, damaging the metal’s haven appeal.
Gold Boom Higher on Lackluster Non-Farm Payrolls Data – Gold Silver Reports
The increase in new jobs for July was downwardly revised to 159,000 from 164,000 and June’s figure was cut to 178,000 from 193,000. Average hourly earnings was a bright spot, rising by 0.4% in August and 3.2% over the year, beating expectations. The market reacted to the jobs data with a sharp rally in gold and the US dollar weakening against its major counterparts.
MCX Gold Below 38844 Sell More Gold And Relaxxx
MCX Gold settled down 2.33% at 38894 dropped sharply posting their largest one-day dollar loss in almost three years to settle at a two-week low.
Spot Gold Bulls Will Need to Break Above 1,511 – Gold Silver Reports
The Spot Gold bulls will need to break above 1,511, the 2019 high, to travel north towards 1,530.00 and 1,555.00 resistances.
Gold is trading above its main simple moving averages suggesting bullish momentum in the medium term. Support is seen at 1,472.00 and the 1,452.00 levels.