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.
The Spot Gold bulls will need to break above 1,511, the 2019 high, to travel north towards 1,530.00 and 1,555.00 resistances.
Gold is trading above its main simple moving averages suggesting bullish momentum in the medium term. Support is seen at 1,472.00 and the 1,452.00 levels.
Spot Gold extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.
Spot gold rose 0.3 per cent to $1,422.67 per ounce in intraday trade, after earlier hitting its highest since July 3 at $1,426. The metal gained 1.5 per cent in the previous session. US gold futures jumped 0.9 per cent to $1,424.70 an ounce.
The Gold triangle chart pattern is respecting the shallow Fibonacci re-tracement levels of wave 4 vs 3 which is typical behavior for a wave 4 (blue) pattern.
Gold Silver Reports (GSR) — Gold Overall for a Resumption of last-month’s bullish-rally, gold prices would need to beat the 6-year high. Alternatively, for a decline to take place, $1380 would need to be penetrated.