Phenol_fx

Phenol_fx

TVC:GOLD Gold prices rose on a daily basis, although XAU/USD established a new one-week low of $1,951.53 per troy ounce while holding below Monday's high of $1,967.85. The US dollar rose in the first half of the day as the gloomy mood favored the safe-haven currency. The dismal macroeconomic figures released these days show the fragile economic balance most...

Phenol_fx Updated 

TVC:GOLD Gold prices reversed from two-week lows, catching up with a four-day downtrend, as China and central bank stimulus news boosted sentiment and GOLD prices. In doing so, GOLD traders portray the market's cautious optimism ahead of this week's top data/events. That said, headlines boosting hopes of China's stimulus measures and banking intervention from...

Phenol_fx Updated 

OANDA:XAUUSD Gold price does not work around 1960$ support turned resistance level including 100-DMA and 61.8% Fibonacci convergence in one day and one week. The possibility of XAU/USD breaking above the 1,960$ barrier combines with the upbeat sentiment and a pullback in the US Dollar to keep buyers hopeful of breaking the 1,970$ resistance confluence that...