Gold edged up, recovering from an almost seven-week low, amid caution in markets as investors assessed the outlook for the dollar and the timeline for a U.S. stimulus package.
trading gold futures
Gold Price Forecast 2021 : Gold 1Q Outlook Bullish Headed, Target $1965
What started with a bang is now ending with a whimper. After a meteoric rise in gold prices through the first three quarters of 2020 (gaining +24.3% from January 1 through September 30), gold prices cooled off in 4Q’20, having lost around -1% at the time this forecast was written in December 2020.
Spot gold Prices Have Been on The Front Foot in Recent Trade
Spot gold prices have been on the front foot in recent trade, with a boost coming at 13:30GMT in the form of slightly softer than expected US Consumer Price Inflation numbers. Spot gold popped above the $1840 level and Wednesday Asia session highs at $1842, but has so far failed to break above $1850. As things stand, the precious metal trades with gains of close to $8 or 0.5% on the day.
Gold Extends Drop on Vaccine, Signs of Improving U.S. Economy
Gold fell to a four-month low as growing optimism over a coronavirus vaccine and signs of a increasing momentum in U.S. economic growth stifled demand for the metal as a haven.
GOLD TECHNICAL ANALYSIS : Gold Support Zone $1840—$1838, Below Target $1810 ——$1780 – Neal Bhai Reports
GOLD TECHNICAL ANALYSIS : Gold prices are under down trend now-familiar range support in the 1840-$1838 Level. Breaking below this barrier on a daily closing basis looks likely to open the door for target $1810/oz figure to challenge former resistance in the $1780 zone. Alternatively, an upswing past the $1910 inflection region probably targets the swing top @ $1958.
GOLD TECHNICAL ANALYSIS TODAY – 05 NOV 2020 – Neal Bhai
GOLD TECHNICAL ANALYSIS: From a technical standpoint, the gold outlook remains biased to the downside. Falling resistance from August is keeping prices under pressure.
For Nine years the $1,920 level loomed large for Gold prices, As this was the prior All-Time-High set in 2011
It’s now been a couple of months that the bullish trend in Gold has been on pause; and this comes after an aggressive topside trend had taken-over this summer. After digesting over a two-month pattern from mid-April into mid-June, bulls took over to build a rally that drove for much of the next two months.
Gold Spot Tips Today – Below $1912 Target $1864——$1834——$1815——$1780
Gold Spot Tips Today – Below $1912 Target $1864——$1834——$1815——$1780
GOLD PRICE TRADES BELOW 50-DAY SMA FOR FIRST TIME SINCE JUNE
GOLD FUNDAMENTAL OUTLOOK, INFLATION EXPECTATIONS, FEDERAL RESERVE, US DOLLAR
GOLD FUNDAMENTAL OUTLOOK – The fundamental environment nurturing gold’s surge to fresh record highs has shown little signs of abating, despite a noticeable stabilization of the Federal Reserve’s balance sheet in recent weeks and the inability of US policymakers to deliver an additional round of much needed fiscal stimulus, as the upcoming FOMC meeting shifts into focus.
Spot Gold Set for Worst Week Since March, Pressured by High Yields – GSR
Spot gold dipped 0.3% to $1,946.56 per ounce by 10:53 am EDT (1453 GMT) and U.S. gold futures fell 0.8% to $1,953.80.