Gold Fundamental Analysis

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Gold prices fell slightly in late trading on Wednesday morning (12/07), even going bargain hunting after gold prices touched 10-month lows in the previous session, but sentiment US interest rate rise early next week suppress the increase.

LLG Spot gold prices fell 0.2 percent at $ 1,167.80 per ounce. Gold touched $ 1,157 an ounce on Monday, the lowest since February 5. US gold futures prices, which also marks the 10-month lows in the previous session, for February delivery ended at $ 1,170.10 per ounce.

Interest rate futures signaled traders see there are about 93 percent chance the Fed will raise interest rates by a quarter point to 0.50 to 0.75 percent next week, FedWatch CME Group show. Fed officials warn on Monday that the inclusion of government economic plans Trump should not play a role if the economy is in crisis, it is designed to help the long-term prospects of the economy.

Gold depressed the combined impact of a stronger dollar and the US stock market rise, coupled with significant outflows from exchange-traded fund (ETF) and weak physical demand in India.

Analysts estimate that the price of gold for the next trade will move weakened by the strengthening US dollar and US interest rates plan which are approaching. The gold price is expected to move in the range support between $ 1,166- $ 1.166.

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Gold price movements of the European session strengthening more than expectation after the price opened higher at 1174.61 in early trading, now the price of gold is still rolling at 1176.40.

The price of gold on early European session moving strongly despite Asian and European stock markets move in the green zone, buoyed by the momentum of dollar weakness against many of its main rivals. Gold prices rose since the previous session by a decline in US bond yields up to 0,003 bp.

Technically, gold prices attempted to climb towards the range between 1179.22-1185.66. But if not breaks will fall back to the range 1170.81 - 1165.37. So analysts suggest that XAUUSD today is expected to have the support level at 1155.52 and resistance level at 1192.63.

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Gold price movements on Asia session is sluggish after being opened lower at 1170.55 in early trading , now the price of gold is still rolling at 1166.36. It seems this pair also trying to break the strong support.

The price of gold on early Asia session pressured strongly by rising bond yields back in the United States that lifted the US dollar continued to rally throughout the day. Besides the strong Asian markets weighed on gold trading and will also continue in the European session.

Technically, gold prices moved down to the range of 1163.39-1158.66. But if it is not, there are big chance this pair to climb back to the range 1174.28 - 1180.21. So analysts suggests that XAUUSD today is expected to have the support level at 1156.12 and resistance level at 1182.63.

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Gold price movements on European session is weak against its counter part USD, after opened higher at 1162.61 in early trading (0000 GMT), now the price of gold is still rolling at 1161.71.

Gold prices trimmed in the early of European session by the resurgent of Asian equity markets towards the end of trading and European stock markets opened positive or higher than the previous trade. Additionally sentiment strong Fed rate hike overshadow gold price movements

Technically, gold prices seems fall down towards the range between 1156.47-1150.55. But if the pair cannot, then it may do the opposite with rise towards the range of 1168.93 - 1171.73. So the analysts suggested that XAUUSD pair today is expected to have the support level at 1141.88 and resistance level at 1177.34.

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Gold price movements on Asia session observed to be bullish even after the price of this commodity opened lower at around 1141.73 in early trading, now the price of gold is still rolling at 1142.40.

The price of gold was hit pretty big selling pressure continue after the strengthening US dollar high because of the Fed announced 28 bp Fed rate hike. But the energy rebound towards the end of Tokyo session gained from safe-haven sentiment after plunging nearly all stock market, thus making the switch funds to the gold market.

Technically, the gold price moves up continuously until the European session up to the range between 1144.18-1147.56. So many analysts expected that XAUUSD normal range for today have the support level at 1116.80 and resistance level at 1167.32.

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Gold price movements on Asian session seems to be stronger than exected even after the price opened lower at 1128.21 in early trading (0000 GMT), now the price of gold is still rolling at 1131.11.

The price of gold trying to rebound from 10-month lows beat sentiment Fed rate hikes. Gold lifted by safe-haven trading in the Asian session after China's stock market crash with the Yuan's falling down as reference rate to its lowest level since May 2008. It also rests on profit taking US dollar against many of its rivals.

Technically, Gold price continously to rose towards the resistance range between 1137.24-1144.31. But if failed then Gold will retreat back to the support range between 1124.26 - 1117.30. So Analyst suggests that XAUUSD pair today is expected to have the support level at 1111.90 and resistance level at 1149.17

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Gold price movements on Asian session this pair's price moving strongly after being opened lower at 1137.99 in early trading (0000 GMT), now the price of gold is still rolling at 1138.62.

The price of gold early on Asian session tried to continue the rally that has lasted for two days straight by the momentum of the retreat of US dollar against many of its main rivals. Triggers rise in gold prices was also triggered by the collapse in US bond yields so as to make the market more hunting for safe-haven assets.

Technically, the gold price rose continuously strive towards the resistance range between 1141.14-1145.31. So the analyst suggests that the normal range XAUUSD pair today is expected to have the support level at 1125.82 and resistance level at 1147.74.

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Gold price movements on Asia session after being opened weak move higher at 1131.53 in early trading, now the price of this commodity is still rolling at 1130.06 and facing its strong resistance.

Gold prices tried to rebound early by the momentum of the retreat of US dollar against many of its main rivals, but still not strong due to the Christmas holiday sentiments that make markets still hold position and await further directives on US GDP data tonight.

Technically, gold prices continue to fall toward the support range between 1130.34-1119.24. But if it does not penetrate the range of S1 will rise to the resistance range between 1133.82 - 1137.38. So XAUUSD is expected to have the support level at 1119.24 and resistance level at 1141.68.

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Gold prices ended higher on the final trading day weekend early Saturday after US dollar retreated this week from a 14-year high. Spot gold rose around 0.2 percent at $ 1,132.63 per ounce, while US gold futures for February delivery closed up by 0.26 percent, at $ 1,133.60 per ounce.

 

For the week, gold prices declined 0.4 percent depressed strengthening US dollar traded near 14-year highs after US Federal Reserve Chairman Janet Yellen reinforced hopes for a faster pace of US interest rate hikes next year than had been expected.

 

Gold has fallen more than $ 200 per ounce from the peak reached after Donald trump victory in the presidential election on November 8, reached last week's low of $ 1,122.35, as the dollar triggered a rally victory and drove US Treasury yields higher.

 

Analysts estimated that Gold price for the next trading session projected to rise and may pull back the US dollar's rice. But with the holiday season are expected to trade will decline can hold the price of gold.

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Gold prices rose in late trading on Wednesday morning near its two-week highs triggered by weak Japanese inflation data, in thin trading with traders in the United States back to a long holiday weekend after Christmas and the London market was closed.

Spot gold was up 0.4 percent at $ 1,139.31 per ounce, after edging down to $ 1,131.35. US gold futures for February delivery closed at $ 1,138.80 per ounce. Japan's core consumer price index (CPI) slipped 0.4 percent year-on-year in November, compared with market consensus of a decline of 0.3 percent, while household spending also fell 1.5 percent November from a year earlier.

Most analysts believe widespread concerns about European banks and the uncertainty surrounding the US policy of President-elect Donald Trump will likely support gold prices in 2017. However, the gold price could fall in the near term if US bond yields continue to rise.

Analysts esimated that the price of gold for the next trade is projected to rise by buying towards the end of the year. But it could turn weak if the strengthening of Wall Street boosted Asian markets. There will also be observed the movement of the US dollar.

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Gold price movements end of the Asian session (13:30:35 GMT) strong move after opening higher at 1163.97 in early trading (0000 GMT), now the price of gold is still rolling at 1177.33. The price of gold has exceeded the range of the strong resistance.

Enter the European session gold prices soaring to continue trading the previous day because of the drop in US bond yields overnight US trading session.

Technically, gold prices will continue to rise towards the range 1180.00-1184.39, and if there is a correction going down towards the range 1161.00 - 1156.10. So the analyst suggests that the normal range XAUUSD pair today is expected to have the support level at 1145.65 and resistance level at 1185.23.

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Gold price movements in the end of Europe session moves stronger than expected against US Dollar opening higher at 1180.10 in early trading, now the price of gold is still rolling at 1174.70. The price of gold has exceeded the range of the strong resistance.

Since entering EU session, Gold price trimmed by the strong US Dollar's momentum against many of its main rivals. But it would be stronger if US dollar depressed by the night session stronger by NFP data release in December and retail sales data in an equally lower than the previous period.

Technically, Gold price will rise back towards the range of 1183.90-1188.22 if the price decline then the price may reach the range of 1173.37 - 1165.55. So analysts suggested that Gold is expected to have the support level at 1156.09 and 1195.50.

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Movements in gold prices on Europe session moves negatively after the price opened higher at around 1173.82 in early trading (0000 GMT), now the price of gold is still rolling at 1174.18. The price of gold was approaching the strong resistance range.

 

Gold prices trimmed by the strong momentum  of US dollar against many of its main rivals and also trading of risky assets in the European stock exchanges rose after Asian bourses also turn green. Although the release of economic data which supporting US dollar less to give strength, but the speech of 2 official FOMC is expected to add the strength of the US dollar.

 

Technically, Gold continue to be depressed towards the support range of 1169.90-1163.75, but if there is a correction to rise again achieve the strong resistance. So analysts suggested XAUUSD is expected to have the support level at 1158.48 and resistance level at 1191.11.

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Gold prices rallied to its highest level in more than a month at the end of trading on Wednesday morning (11/01) as the US dollar slumped to anxiety before a press conference by US President-elect Donald Trump on Wednesday and the uncertainty of the British exit from the EU.

LLG Spot gold prices rose 0.44 percent to $ 1,186.36 per ounce, previously had reached its highest since December 15, gold futures prices rose 0.16 percent at $ 1,186.7 per ounce. The market was looking for more clues about spending plans in a speech Trump's first since a surprise win in November which pushing the dollar lower.

Analysts estimated that Gold price for the next trading session will rise as US Dollar weakness continues. Similarly, the speech Trump waiting and uncertainty surrounding the implementation of Brexit, as well as the physical demand of China, became the bullish sentiment for gold. The gold price is expected to move in the resistance range between of $ 1,184- $ 1.182.

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Gold price movements on Asian session (11:10:35 GMT) continues uphill after the price opened lower at 1190.85 in early trading, now the price of gold is still rolling at 1197.47.

On Asia session it seems that gold prices are still supported by poor Asian stock exchanges and US dollar bearish momentum. Sentiment safe haven market controlled by market concerns will shape the global economy in the first half of this year, with the pressures of political conditions.

Technically, gold prices will continue to rise towards the resistance range between 1200.45-1210.58, but if there is a correction may be down towards the support at 1188.71-1179.85. So the analyst suggests XAUUSD today is expected to have the support level at 1174.83 and resistance level at 1210.58.

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Gold price movements on Europen session rebounded again after the price opened lower at around 1194.22 in early trading (0000 GMT), now the price of gold is still rolling at around 1196.74.

 

Gold rose back on early Europe session to respond to the poor majority of Asian stocks trading sentiment triggered safe-haven trade. The above condition is triggered by poor Chinese trade balance data that causes their trade surplus decreased.

 

Technically, gold prices will continue to rise towards the resistance range between 1200.00-1205.58, but if it is failed will fall towards the support at 1190.38-1180.85. So XAUUSD today is expected to have the support level at 1172.83 and resistance level at 1211.20.

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Gold price movements of the European session (13:00:35 GMT) rallied after the price of this commodity opened higher at around 1194.22 in early trading (0000 GMT), now the price of gold is still rolling at 1203.10.

Gold prices on Asia session was hit by a strong US bond yields weekend, but rose back to penetrate the strong resistance by the poor sentiment trading stock markets in Asia.

Generally, it seems that Gold has bigger chance to rise towards the resistance range between 1211.05-1217,00. So many analysts suggested that the normal range for XAUUSD pair today is expected to have the support level at 1183.88 and resistance level at 1211.20.

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Gold prices fell to two-week lows in late trade on Friday morning (27/01), stressed the strengthening of the US dollar and US Treasury bond yields. LLG spot gold price was down 0.92 percent at $ 1,189.23 per ounce, from an earlier low of $ 1,191.18. US gold futures prices fell 0.74 percent to $ 1,188.9.

Strong US Dollar makes dollar-denominated commodities more expensive for holders of other currencies, potentially restricting demand, while Treasury yields means higher US bond cheaper for investors who want an alternative to gold.

While the stock market and bond yields continue to rise, driven by US President Donald Trump signal that he plans to increase public spending, expectations for growth impetus recently had a reduced impact on the dollar.

Analysts estimated that Gold's price for the next session could potentially weakened by the strengthening US dollar. The gold price is expected to move within the range Support at $ 1.187 - $ 1.185, and if the price rises will move in a range Resistance between $ 1.191 - $ 1.193.

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Gold price movements on European session (14:30:35 GMT) were weak after the price opened lower at around 1209.43 in early trading (0000 GMT), now the price of gold is still rolling at 1214.55.

 

The gold price is still rising amid strong trading stock exchanges on European region triggered by the collapse of US dollar against many currencies of the world after Trump policy market worries latest addition.

 

Technically, gold prices attempted to climb towards the resistance range 1206.88 - 1220, but if it is not up and there was a correction again going down towards 1204.35-1197.63. So the normal range of XAUUSD pair today is expected to have the support level at 1195.10 and resistance level at 1230.21.

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Gold price movements on Asian session (09:00:35 GMT) was dropped after it opened lower at 1230.20 in early trading (0000 GMT), the gold price is now rolling at 1230.29.

 

The price of gold early Asian session still show negative movement by the US dollar bullish momentum by higher US bond yields from 2.32% to 2.43% for 10-year tenor bonds. In addition, the strength of the stock market trading on Asia puts a burden on the gold price.

 

But technically the gold price is being tried to climb into the resistance range between 1233.80-1238.90, but if it does not happen correction and then going down to the support range between 1225.38-1222.94. So the analyst suggests Gold normal range are support at 1219.85 and resistance at 1243.41.

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Gold prices slipped at the end of trading on Tuesday morning (14/02) stressed by the strengthening of US dollar and Wall Street, but the political and economic uncertainty in the United States and in Europe because of the elections are expected to continue to provide support for the precious metal.

LLG Spot gold prices fell 0.64 percent at $ 1,226.09 per ounce, down from a three-month high last week of $ 1,244,67. US gold futures dropped $ 10.10 to end at $ 1,225.80. The strong demand for gold can be viewed at the COMEX, where speculators raised their bullish bets in gold to the highest level in two months in the week to February 7, the data the US Commodity Futures Trading Commission showed on Friday.

Many analysts estimated that the price of gold may rise triggered political uncertainty in Europe. Gold prices are expected to move inside the resistance range between $ 1.228 - $ 1.230

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Movements of gold prices itself on early Europe session are still weak compared to the opening price wher it opened at around 1227.32 in early Asia session, and now XAUUSD is rolling down at 1225.08.

Generally, overall that XAUUSD will rise to the resistance range between 1231.20-1238.07 and if the price is failed to reach that range, then it will fall towards the support level range between 1221.90-1216.19. Throughout this day XAUUSD's range is expected to have the support level at 1211.33 and resistance level at 1244.15

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Gold price movements on Europe session were higher after the price opened lower at around 1233.21 in early trading (0000 GMT), the gold price is now rolling at 1237.81.

Technically, Gold price is rising up towards the resistance range between 1240.79-1242.68, but if it is failed and get negative correction then the pair's price will fall down towards the support at 1230.31. So analysts recommend that Gold price for this session is expected to have the support level at 1213.29 and resistance level at 1247.33.

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Gold price movements based on the European session was trimmed after the price of Gold opened actually higher at around 1239.21 in early trading (0000 GMT), the gold price is now rolling at 1237.96.

Technically, gold prices can only rise towards the resistance at 1241.70 up to 1244.77. So it seems that analysts expected that Gold price for this day's sessions will have the normal range around support level at 1226.06 and resistance level at 1248.52.

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Gold price movements in the end of the Asia session are still in a weak position after the price opened higher at 1237.55 earlier, and now XAUUSD rolling down at 1236.75.

It seems that the price of Gold is generally falling down towards the range around 1233.90, but if it is failed then there will be a positive correction of the price where it will rise back towards the previous highs at 1240.89. Throughout this day it seems that Gold normal range for today is expected to have the support level at 1222.38 and resistance level at 1248.08.