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  
FOMC will raise rates today

At this point, it would be extremely surprising were the Committee to forego a rate hike. Economic data have indicated accelerating activity over the...

Gold struggles despite softer USD

Fails to benefit from the ongoing USD retracement slide and escalating trade tensions. Fading safe-haven demand/rising US bond yields/ECB QE...

Dollar weakens farther below 92.00 handle

The greenback held on the defensive at the start of 2018, with the key US Dollar Index languishing near its lowest level in over three months...


Environment changes for central banks

2017 may have been extraordinary in terms of the political influences on G10 FX markets, but central banks have stolen a fair share of market...

Gold hangs closer to 5-month lows

Gold came under some renewed selling pressure on Wednesday and eroded majority of its previous session's recovery move from near 5-month lows...

EUR futures: deeper pullback not ruled out

According to CME Group’s flash data for EUR futures markets, traders increased their open interest positions by more than 19.1K contracts...


US Dollar looks to retake 92.00

The greenback, tracked by the US Dollar Index (DXY), is facing strong resistance in the boundaries of the 92.00 handle ahead of the opening bell...

EUR/GBP hits fresh highs

The British Pound faded UK manufacturing PMI-led minor up-tick, lifting the EUR/GBP cross to fresh highs since mid-March...

Oil sees a flash crash

Oil prices on both sides of the Atlantic witnessed a sharp downward spike, following comments from oil ministers of leading OPEC producers...


In the past 24 hours Bitcoin has gained 0.3% and reached $6759.1. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.9545% and is now at $1.164. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 7.85% and is now at $538.103. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets88%
2FXTMFXTM87%
3HYCMHYCM85%
4FIBO GroupFIBO Group80%
5FxProFxPro77%
6FXCMFXCM74%
7Alfa-ForexAlfa-Forex72%
8HotForexHotForex71%
9FP MarketsFP Markets70%
10XMXM69%
  


Share: