At Gold Silver Reports, we provide real-time updates on Spot Gold (XAUUSD) with live prices, expert analysis, and daily trading insights. Stay ahead with accurate forecasts, support & resistance levels, and global gold market trends to guide your trading strategies.
News that the U.S. and China agreed to work toward a fresh round of trade talks next month provided a boost to the U.S. and global stock markets, and a stronger-than-expected private-sector employment data also helped to ease worries about a slowdown in the economy, damaging the metal’s haven appeal.
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Spot Gold resumed the decline, falling again below $1,500/oz. Price bottomed at $1,497 the fresh two-week low. It bounced back to the upside and as of writing is hovering around $1,500 down for the day but off lows. On the flip side, under the daily, the next support emerges at $1,492.
Gold COMEX While $1,550 is the level to beat for the bulls, $1,517 is the level to beat for the bears. Gold is currently trading at $1,543, representing 0.22% losses on the day.
Spot Gold – In addition to portfolio managers buying up gold as their preferred safe-haven trade, central bank purchases are expected to provide an additional level …
Precious Metals – ABN AMRO’s Senior precious metals strategist, Georgette Boele, notes that gold prices have gained 17% this year and argues that gold prices have risen too sharply in a short period and are likely to make a correction in the coming months.
Spot Gold Updates : The absence of further escalation, on a break back below the $1480, bears can target a deep retracement back to the $1440—$1408.