Gold remained largely range bound

28 February, 2018

Gold has remained largely range bound over the past 4 trading sessions but it seems as the today there is momentum gaining to the upside and the formation of a reverse head and shoulders as we can see in on the chart is definitely a bullish sign.

They key for this pattern for this pattern to continue will be the Speech due out in around an hour by US Federal Reserve President Jeremy Powell where he will lay out the state of the economy and the Feds plans going forward.

Powell only took over the top job at the Fed recently so chances are he may take a soft tone and not talk up the economy too much for fear of spooking investors about future interest rates.

This maybe just what gold needs to once again trade back into the familiar trading range of between $1,360 and $1,365.


Source link  
Gold need to hold this level

The gold price is now trading at its lowest level since the start of the year and is now consolidating around the $1275 mark and according to one...

Gold faces key moment

The gold price has remained above the $1300 mark in today's trading session after breaking this important level yesterday and today's outcome...

US dollar down on dovish Fed

As predicted yesterday, the Fed kept interest rates on hold but the following monetary statement was much more dovish than analysts had predicted...


Gold needs some big news

The gold price is under further pressure in today's trading session as investors ponder the chances of another rate hike from the US Federal Reserve after the release...

Good news for the precious metal

Gold just got another reason to cheer after the latst minutes meeting from the US Federal reserve where the tone left many analysts predicting that...

Gold to stay above $1300

The gold price has recovered strongly over the past 3 trading sessions after coming perilously close to touching the $1300 mark and...


Oil price hinges on trade talks

Oil is down once again in today's trading session as investors and the market alike remain divided on the future direction of the price with a lot...

Oil needs Opec cuts

The latest tumble in the oil price has now reached gigantic levels, almost equaling the declines reached during the global financial crisis and according to some analysts, we may...

Gold price has rallied sharply

A declining stock market is always good for gold as investors look for somewhere safe to ride out the uncertainty. Precious metals are seeing buying...

  


Share it on:   or