Gold has been in major consolidation for over 500 days creating a symmetrical triangle. This is typically a continuation pattern after a bullish uptrend. It has broken bullish out of the triangle and ran into the next zone of resistance at 1910. I am expecting a slight pullback here to 1835-1870 before hopefully moving further north. It needs to break that 1910 resistance to continue its bullish momentum towards the 1950 resistance zone. Major support is at 1680.
Bitcoin and other cryptocurrencies slipped Thursday as risk-sensitive assets weakened after the Federal Reserve’s latest monetary policy decision. Cryptos are poised to return to range-bound trading that has been defined in recent months. Gold prices lingered near a...
Gold Market Gold prices are down and hit multi-week lows in early U.S. trading Thursday, following a batch of U.S. economic data that showed an uptick for producer inflation and solid retail sales. Both reports fall into the camp of the U.S. monetary policy hawks, and...
Gold Market Gold prices firmed on Friday, trading at $1,924.79, but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns about the Federal Reserve keeping interest rates higher for longer. The dollar...
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