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On Friday and Monday, we saw legendary moves in gold. On Friday evening, the price rose to $2075 on the background of risk appetite with reduced liquidity in the instrument. On Monday, the price of gold reached $2145, a new historical price maximum. The nature of the movement on Friday and Monday morning suggests that […]

The post Gold’s Monumental Surge to All-Time Highs appeared first on Action Forex.

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XAU/USD: Gold Hit New All-time High, Bullish Bias Above $2000

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10/06/2024

Gold Technical: On the Brink of a Potential Multi-Week Corrective Decline

Gold (XAU/USD) plummeted below its 20-day & 50-day moving averages, and recorded a daily loss of 3.45% last Friday, 7 June; its worst daily performance since November 2020. The main negative catalyst has been a halt in China’s gold purchases in May after 18 consecutive months of buying through its official reserves. A further rebound […]
11/09/2024

Gold Awaits US CPI Report, $2,530 Presents Resistance

Key Highlights Gold is consolidating gains below the $2,530 resistance. A key contracting triangle is forming with support at $2,495 on the 4-hour chart. Oil prices might extend losses and revisit the $65.00 support. The US Consumer Price Index might increase by 2.6% in August 2024 (YoY), down from 2.9%. Gold Price Technical Analysis Gold […]
20/12/2023

GBP/USD – Inflation Surprise Sends Pound Lower

UK inflation falls to 3.9%, lower than expected British pound declines The British pound has declined on Wednesday. In the European session, GBP/USD is trading at 1.2658, down 0.58%. UK inflation surprises on the downside UK inflation was lower than expected in November and the surprising release has sent the British pound lower today. Headline […]