Gold Analysis Report: Gold traded with a mild negative bias around the $1,820 region, or daily lows, during the early North American session, albeit lacked any follow-through selling.
Gold analysis: Reaches above 1,800.00 : On Monday morning, the yellow metal traded above the 1,800.00 level. Meanwhile, support was being provided by the combination of the 100-hour simple moving average and the 1,805.00 level. Resistance was being found in the 1,810.00 level and the 200-hour simple moving average.
Spot Gold Price Forecast: Gold has stalled at the 20-day moving average and is likely to consolidate in the very near-term, says Technical Analysis Research Team. She still expects in the long term, Gold to reach the 1958 area.
Is Gold Set To Shine: Gold has two times of the year when it seasonally gains. The turn of the year and the summer month of August.
The latest FOMC minutes were… mixed. The discussion between hawks and doves continues giving gold no comfort. Who will gain the upper hand?