Gold steadied on Tuesday, holding close to a near one-week low touched in the previous session, as a stronger dollar and renewed interest for riskier assets dampened demand.
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Spot Gold Technical Report – Break Support $1280 – Neal Bhai
Gold Silver Reports (GSR) – Also supporting gold was a prolonged partial U.S. government shutdown and expectations that the Federal Reserve will hold its multi-year rate hike cycle, analysts said.
Gold Bounces as Mounting Concerns of an Economic Slowdown
Gold Silver Reports (GSR) – Spot gold was up 0.3 percent at $1,282.80 an ounce at 1323 GMT, recovering from a dip on Monday to its lowest since Dec. 28 at $1,276.31. U.S. gold futures were little changed at $1,282.
US President Donald Trump said on Saturday there has Been Progress toward a Trade Deal with China
Gold Silver Reports (GSR ) – Spot gold had risen 0.2 per cent to $1,282.71 per ounce by 0103 GMT, while US gold futures were steady at $1,282.50 per ounce.
Spot Gold $1,300 Resistance level for Gold is Looking Very Vulnerable
“The equities are looking a little heavy up at these levels and yesterday’s speech by Fed Chairman Powell felt like Fed might adopt a dovish stance on rates moving forward, which is lending a lot of support to gold,” Haberkorn added.
Gold Prices Rise as Fed Stance Weakens Dollar – Gold Silver Reports
Gold Silver Reports (GSR) — Spot gold rose 0.6 percent to $1,294.01 per ounce as at 0729 GMT, heading for a fourth straight weekly gain. The yellow metal is up 0.7 percent so far this week.
Gold Prices Gains as Dollar Weakens, U.S. Rate Hike Prospects Fade
Spot gold was up 0.1 percent at $1,244.40 per ounce as of 1:41 p.m. EST (1841 GMT). U.S. gold futures settled up $2.80, or 0.22 percent, at $1,250.
Gold Edges Lower as Dollar Steadies, Equities Up
Spot gold was down 0.2 percent at $1,243.91 per ounce, as of 0415 GMT, while U.S. gold futures were 0.1 percent lower at $1,249.3 per ounce.
Spot Gold May Rise into a Range of $1258-$1266 per Ounce
Spot gold may rise into a trading zone of $1258—$1266 level per ounce, as it has broken a resistance at $1245, Technical Analyst Neal Bhai.
Global stocks extended their slump on worries over slowing growth and fears that a fresh flare-up in tensions between U.S. and China could quash chances of a trade deal.
Gold Slip on Profit Taking, Firm Dollar – GSR
Spot gold fell 0.2 percent to $1,235.57 per ounce at 0823 GMT, while U.S. gold futures were 0.1 percent lower at $1,240.8 per ounce.