Russia increase gold production more than 185.1 tons of the precious yellow metal from January to July this year, according to recent data published by Russia’s Finance Ministry.
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Spot Gold Expected trading Resistance $1,495 & Support $1,460
Spot Gold price tested the correctional bearish channel’s resistance and keeps its stability below it, accompanied by stochastic loss to the positive momentum gradually.
Gold Prices Trades in a Narrow Range $1470—$1480
The price of gold trades in a narrow range even though US Treasury Secretary Steven Mnuchin sees the Phase One trade deal being signed in January, and the precious metal may continue to consolidate over the coming days as market participation is likely to abate ahead of the holiday period.
USD’s Performance Likely to Keep Pair’s Upside Limited – Gold Silver Reports
The data published by the US Bureau of Economic Analysis revealed that the economy expanded by 2.1% on a yearly basis in the third quarter (final estimate) and helped the greenback gather strength against other major currencies. As of writing, the US Dollar Index was at its highest level in 10 days near 97.60, adding 0.2% on a daily basis.
Gold Down Below $1462 level, US-China Trade Optimism Seemed to Weigh on the Commodity’s Safe-Haven Status
US-China trade optimism seemed to weigh on the commodity’s safe-haven status. The recent optimism over a possible US-China trade deal remained supportive of the prevalent risk-on mood and continued denting demand for traditional safe-haven assets.
The Gold Charts Scream Dead-Cat Bounce
Gold remains under pressure as trade optimism remains in place and as some longer-term investors lock in profits.
Gold Price Remains Weak, Below $1450 Target $1408—$1405 – Gold Silver Reports
GOLD PRICE TECHNICAL ANALYSIS – Financial markets are neither risk-on or risk-off at the moment which makes the sharp sell-off in gold difficult to explain when one of its main drivers remains flat.
Live Gold Price Outlook: Fundamental Analysis Highlights Further Volatility
Gold fell below $1,500/oz. this week and hit a three-month nadir around $1,455/oz. Friday as US dollar strength and a strong risk-on sentiment saw risk-averse asset classes – gold, Japanese Yen and the Swiss France – pushed aside.
Gold Price Today: Gold Silver Prices Up as Rupee Strengthens
Gold prices edged higher in domestic commodities market on Monday as rupee gained strength. Silver also toed the line, advancing in early trade.
Gold Technical Analysis: Resistance at $1,524 Still intact, US Non-Farm Payrolls Eyed for a Fresh Impetus
The channel breakout indicates the pullback from the September high of $1,557 has ended. The outlook, however, would turn bullish once the yellow metal invalidates the bearish lower highs setup with a move above the 2019/Oct. 25 high of $1,518.