Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  Gold       XAUUSD

GOLD

Delayed Quote. Delayed  - 05/21 03:08:44 pm
1274.49 USD   -0.23%
10:17aTSX lower as weak gold prices hit mining stocks
RE
02:31aFresnillo Warns of Challenging Trading in 2019
DJ
05/20Gold Edges Up as Dollar Falls
DJ
SummaryQuotesChartsNews 
News SummaryAll news

Gold : Back to square one

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/08/2019 | 10:57am EDT

The price of an ounce of gold is approaching the level it had at the beginning of the year at USD 1284, weighed down by a sustained rise in equity markets, to which is added a rise in the US dollar.



Investors have a renewed taste for risky assets, largely linked to traders' optimism about a future easing of trade, and this is preventing gold from shining. In addition, still on the fundamentals front, the improvement in macroeconomic statistics, such as a US GDP close to 3% or a smaller than expected contraction in Chinese manufacturing PMI, limits hedging strategies.

While this is not the time to look for safe havens, this does not limit the potential of gold metal in the longer term. The actions of central banks, which are intended to be accommodating, tend to reduce real rates, making gold mechanically more attractive since - by definition – it does not deliver any yield.

Graphically, in daily time units, gold shows signs of weakness, such as the reversal of the 20 and 50-day moving averages. Profit taking can bring prices to the next size support at USD 1275, which coincides with the 100-day moving average. This zone could trigger a mobilization of buyers, who will initially target the USD 1300 and by extension, the USD 1360 wall.
 

Jordan Dufee
© MarketScreener.com 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOLD
10:17aTSX lower as weak gold prices hit mining stocks
RE
02:31aFresnillo Warns of Challenging Trading in 2019
DJ
05/20Gold Edges Up as Dollar Falls
DJ
05/20Gold Edges Up as Dollar Falls
DJ
05/17SIBANYE GOLD : Lonmin Win Appeal Against Merger
DJ
05/16Gold miner Metallon demands $132 mln from Zimbabwe central bank -documents
RE
05/15Zimbabwe platinum mines to ride out power cuts, gold output less secure
RE
05/15Platinum firms gear up for tough S.Africa wage talks
RE
05/15Rise of smaller rivals throws up fresh challenge to bitcoin
RE
05/15Global Stocks Pause on Mixed Economic Data
DJ
More news
Chart GOLD
Duration : Period :
Gold Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GOLD
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral