Gold Outlook: Price Rises on Geopolitics/Fresh Purchases from China

GBPUSD rising inside wave 2 Likely to rise to resistance level 1.2850 GBPUSD currency pair recently reversed up from the key support level 1.2630 (which also stopped the earlier impulse ii at the end of June). The support level 1.2630 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of […]

Gold struggles for direction ahead of key US data releases as geopolitics take a backseat. People’s Bank of China (PBoC) pauses gold buying following 18-Month spree. Downside momentum appears to be building as buyers lack conviction. Fundamental Overview Gold has edged higher this week yet remains under pressure heading into the US inflation data release […]

The week started on mixed feelings. The rising geopolitical tensions in the Middle East, and between the West and China, and a pullback across the big technology stocks casted shadow on the optimism that the Federal Reserve (Fed) is about to start cutting the interest rates in September. The S&P500 and Nasdaq retreated. But the […]