Gold inching higher to reclaim $1300 level

2 May, 2016

Risk-off sentiment across global financial markets and broader USD weakness continues to boost demand forВ Gold, which has now moved within striking distance of reclaiming $1300 level for the first time since Jan. 2015.

After its amazing comeback from last week's low of $1230, the precious metal provided its highest weekly close since Jan. 2015. The commodity continues to build on to its gains to currently trade with some marginal gain near $1295 level.

Technical levels to watch

On the immediate upside, bulls would now be eyeing a convincing break-through the $1300 handle resistance, which if decisively cleared seems to open room for further appreciation in the near-term.

On the flip side, profit-taking at higher levels should now find immediate support near March high resistance break-point near $1285-84 region. Even if the metal fails to hold this immediate support, any further slide might now be limited by $1272-70 strong horizontal support.


Source link  
GBP/USD drops sharply to 1.3080

Increased odds of no-deal Brexit, USD rebound knocks-off GBP/USD. All eyes remain on Brexit headlines, US macro data and EU Summit...

Gold rebounds from 200-hour SMA

The precious metal stalled its overnight sharp retracement slide from 1-1/2 week tops and managed to find decent support/regain positive traction...

Dollar retreats farther from year tops

Fed rate hike uncertainty kept the USD bulls on the defensive at the start of a new trading week. Global growth concerns underpin safe-haven demand...


Gold remains vulnerable

On Tuesday, the precious metal faced rejection near a short-term descending trend-line, extending from over three-month tops set in October through highs...

Gold trades with gains, around $1215

A subdued USD demand helps build on this week's rebound. Improving risk sentiment does little to prompt fresh selling. US-China trade optimism/Fed rate hike...

WTI vulnerable, but holds $ 66

Bearish API report, Saudi's pledge and stronger US weigh down on oil. Attention turns towards EIA crude stocks data for fresh impetus to the oil markets...


Gold holds steady below 2 month highs

Rising diplomatic tensions continue to underpin safe-haven demand. Subdued USD price-action remains supportive of a mildly positive tone. A modest...

USD/JPY remains in daily range

Struggles to build on overnight strong up-move despite a goodish USD rebound. Bulls tracked retracing US bond yields, tough risk-on mood...

US Dollar Index challenges recent tops

The index rebounds from tops and tests 95.70. Yields of the US 10-year note ease a tad from peaks around 2.90%. US trade balance figures next of relevance...


In the past 24 hours Bitcoin has lost -0.3% and reached $4022.78681177. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.9409% and is now at $1.1429. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -3.15% and is now at $137.484850205. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM89%
3HYCMHYCM88%
4FxProFxPro86%
5FIBO GroupFIBO Group85%
6OctaFXOctaFX84%
7HotForexHotForex81%
8FXCMFXCM78%
9AlpariAlpari76%
10XMXM74%
  


Share: