|Day's Range||1,265.499 - 1,274.4|
|52 Week Range||1,265.499146 - 1,274.400024|
Investing.com – Gold prices edged up on Monday as the dollar weakened, while trade concerns between the U.S. and China also supported the bullion.
Gold is likely to continue to be influenced by the U.S. Dollar this week and its reaction to commodity-linked currencies. Gold could be underpinned if rising crude oil prices drive up the Loonie, Aussie and Kiwi against the Greenback. However, gains could be limited if Treasury yields stabilize or rise.
Investing.com - Gold looks likely to remain vulnerable amid worries over higher U.S. interest rates boosting Treasury yields, after the yellow metal registered a second weekly decline last week, ending close to its lowest levels since December.
Based on last week’s price action and the close at $1270.70, the direction of the August Comex Gold market is likely to be determined by trader reaction to the uptrending Gann angle at $1265.90. Gold’s weakness is really no surprise with the U.S. Dollar near an 11-month high.
Gold markets fell during the week, breaking down towards the $1260 level before bouncing. However, we still have a significant amount of negativity ahead of us from what we can see, as the uptrend line being broken was a big deal. If we do get a rally from here, it could be a selling opportunity.
Gold markets were very quiet during the day on Friday, in a bid to perhaps try to build a bit of confidence in this market. The US dollar has softened a little bit, so that of course helps the Gold markets overall.
Investing.com – Gold prices remained close to their lowest level this year as a weaker dollar failed to stoke appetite for the yellow metal.
Gold prices were modestly higher on Friday but remained at a six-month low as the dollar fell and trade tensions waned. Comex gold futures for August delivery were up 0.02% to $1,270.80 a troy ounce as of 10:31 AM ET (14:31 GMT). Tensions between the U.S. and its allies remained on the back of investors minds, as the European Union imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, jeans, and whiskey.
The S&P 500 gained 11 points or 0.41% to 2,761.92 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased 144 points or 0.59% to 24,606.55 and tech heavy NASDAQ Composite fell over nine points or 0.13% to 7,703.28.
Gold prices consolidated after rebounded late on Thursday, as the dollar gave up some of its gains at the tail end of the week. Stronger than expected Eurozone PMI data helped the euro gain ground paving the way for higher gold prices. Canadian CPI grew in line with expectations, notching up a robust 2.2% year over year figure. Gold prices broke down at the tail end of the second week of June, and resistance is seen near the 10-day moving average at 1,282.
Investing.com – U.S. futures were higher on Friday, as investors put aside their trade war fears.The S&P 500 futures rose 12 points or 0.45% to 2,765.0 as of 6:45 AM ET (10:45 GMT) while Dow futures increased 107 points or 0.44% to 24,579.0. Meanwhile tech heavy Nasdaq 100 futures gained 26 points or 0.37% to 7,264.50.While equities were higher, they were still on track for their worst weekly loss in three months as trade tensions between the U.S. and its allies lingered. ...
Based on the early trade, the direction of the August Comex Gold futures contract is likely to be determined by trader reaction to the long-term uptrending Gann angle at $1268.40. This is also today’s low. Basically, look for an upside bias to develop on a sustained move over $1274.30, and for a downside bias to develop on a sustained move under $1268.40.
Comex gold futures for August delivery were down 0.02% to $1,270.30 a troy ounce as of 4:41 AM ET (8:41 GMT). Tensions between the U.S. and its allies continue, as India joined China and the European Union in retaliation against steel and aluminum tariffs. Meanwhile the European Union imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, orange juice and cranberry sauce.
The biggest influences on the gold market today will be any fresh tariff threats from the U.S. or China, U.S. economic data and the outcome of the OPEC meeting in Vienna. Keep an eye on the Treasury yields. If they continue to fall then gold could attract bids.
Gold markets continue to drift lower, as Thursday saw more selling. The market breaking below the $1275 level is of course a negative turn of events, and it means that we will probably go looking towards the $1250 level next. As I record this video, we are starting to get a bit of a bounce, but that’s probably short-term at best.
The risk of a global trade war helped buoy gold prices. Target support on the yellow metal is seen near the December 2017 lows at 1,236. The MACD histogram is printing in the red with a downward sloping trajectory which points to lower prices.
Gold prices remained at six-month lows on Thursday, as trade tensions between the U.S. and China resurfaced. Comex gold futures for August delivery were down 0.46% to $1,268.60 a troy ounce as of 10:57 AM ET (14:57 GMT). Tensions between the U.S. and China continue, as the two largest economies in the world faced a tit-for-tat over trade tariffs.
The S&P 500 fell two points or 0.09% to 2,764.95 as of 9:40 AM ET (13:40 GMT) while the Dow composite decreased 93 points or 0.38% to 24,564.35 and tech heavy NASDAQ Composite rose over six points or 0.08% to 7,788.04.
Investing.com – U.S. futures were lower on Thursday as global trade tensions kept investors on edge.The S&P 500 futures lost seven points or 0.25% to 2,765.0 as of 6:45 AM ET (10:45 GMT) while Dow futures decreased 85 points or 0.34% to 24,585.0. Meanwhile tech heavy Nasdaq 100 futures fell 18 points or 0.25% to 7,294.75.The European Union is expected to impose tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, orange juice and cranberry sauce. The expected tariffs have added to tensions as investors fear an outright global trade war between the U.S. ...
The downside momentum in gold is strong and there is no support between the current price and its December low at $1251.90 so we expect to see a test of this level over the short-run. Since gold has lost its luster as a safe haven asset, we don’t expect to see much action to the upside unless it’s fueled by position-squaring or short-covering.
Gold markets were relatively sideways during the trading session on Wednesday as traders continue to bounce around the $1275 level. This is a market that is obviously very sensitive to risk appetite, and I think that the fact that trade tensions have not escalated in the last 24 hours has helped Gold markets in general.
Investing.com – Gold prices hovered above session lows Wednesday as fears of a full-blown trade war between the U.S-China eased, sending U.S. bond yields higher, hurting demand for safe-haven gold.
Gold prices continued to move lower as the dollar gains traction and risk aversion abates. The U.S. current account widened much to the dismay of the White House allowing the dollar to grind higher paving the way for lower gold prices. The stronger than expected mortgage index also buoyed the dollar. The yellow metal is poised to test target support near the December 2017 lows at 1,236. Resistance is seen near the 10-day moving average which is the former breakdown level at 1,289. ...
Gold prices were steady at a six-month low on Wednesday, as the greenback rose and trade tensions waned. Comex gold futures for August delivery were down 0.20% to $1,276.10 a troy ounce as of 10:38 AM ET (14:38 GMT). Trade tensions between the U.S. and China eased but still remained on the back of investors minds, as the two largest economies in the world faced a tit-for-tat over trade tariffs.