Gold is struggling to seek out stable momentum above the $1,500 degree, however U.S. earnings season may assist, says MKS PAMP Group. “Though the geopolitical and commerce headwinds prevail, we’re seeing bullion battle to construct additional top-side momentum, nonetheless we might even see value motion pick-up as U.S. earnings season begins,” writes MKS. There’s additionally stable resistance on the $1,500 degree, which makes a transfer larger tough. “Supportive curiosity stays evident broadly by way of USD $1,480 – $1,475, whereas resistance round USD $1,495 – $1,500 is weighing upon any top-side strikes,” MKS provides. Focus as we speak is on the U.S. current residence gross sales, U.S. month-to-month price range assertion, and the Richmond Fed manufacturing index.
By Anna Golubova of Kitco Information; agolubova@kitco.com
Gold is on a hunt ‘for contemporary directional catalyst’ — FXTM
Tuesday October 22, 2019 09:08
Gold prices are unlikely to maneuver a lot in both route till a brand new catalyst comes alongside, based on FXTM. “The dear steel is ready for the following huge theme or market-moving occasion that can affect international sentiment and threat urge for food. Till one thing contemporary is introduced into the image, gold is positioned to commerce inside a modest vary within the quick to medium time period,” writes FXTM senior analysis analyst Lukman Otunuga. Any extended weak spot under the $1,500 degree would encourage a transfer down, provides Otunuga. “Wanting on the technicals, all eyes will stay on the psychological $1,500 degree. Sustained weak spot under this level ought to encourage a decline in the direction of $1,470. Alternatively, a stable breakout above $1,500 will most definitely open the doorways in the direction of $1,515 and $1,525, respectively.”
By Anna Golubova of Kitco Information; agolubova@kitco.com
Traders’ international worries to help gold: RBC Wealth Administration
Tuesday October 22, 2019 09:08
Gold prices will stay supported with geopolitical worries conserving traders within the yellow steel, says RBC Wealth Administration managing director George Gero. “Search for continued help in gold as traders are seeing extra worries in Center East, Turkey, Chile, Hong Kong, and politics basically,” writes Gero. “Fed is predicted to proceed easing and Euro Zone bonds confirmed extra easing however regular greenback index is capping metals features for now.”
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