collected by :Irax John
USDJPY is trading down into support around 10900, but a risk-off environment could push it through if we don’t see buyers step back into risk assets (i.e.
EURAUD broke above an upper parallel with the help of risk aversion and could see further gains in the near-term.
EURGBP has a potentially tantalizing set-up developing should we see the rising wedge formation trigger to the downside below the lower trend-line of the pattern.
But with the reversal-bar the other day if it does trigger a clean drop could unfold.
Silver is turning the corner, but doesn’t have quite the same steady technical backdrop gold does.
Exchanging Outlook for USD, ‘Hazard Pairs’, Equity Indices, Gold Price and More
as mentioned in Gold prices continued to move higher on Friday, after breaking out this week and poised to test resistance near the June highs at 1,296.
The standoff between the U.S. and North Korea is driving market volatility and generating demand for safe-haven assets such as gold.
Softer than expected consumer inflation weighed on the dollar paving the way for higher gold prices.
Momentum is positive as the MACD histogram is printing in the black with an upward sloping trajectory which points to higher prices for the yellow metal.
There were no revisions to June, where the headline price reading was unchanged while the core edged up 0.1%.
as mentioned in
Gold Price Hits elevated Levels In 2 Months
© Thomson Reuters 2017The price of gold climbed to the highest levels in two months on Thursday as the United States and North Korea exchanged more threats, prompting investors to buy bullion as a safe haven asset.
“For now, the uptrend is very much intact in gold, reacting to external geopolitical events,” said Jonathan Butler, commodities analyst at Mitsubishi in London.
The spot gold price was up 0.7 per cent at $1,286.07 per ounce by 1400 GMT, after hitting an earlier high of $1,286.40, its highest level since June 8.
The $1,279 area is a key technical level, representing a downtrend that has been in force since mid-2016 when gold surged to a two-year peak of $1,374.91.
Platinum gained 1.1 per cent to $982.40 per ounce after touching $983.60, the highest since April 18.Palladium climbed 1.1 per cent to $900.85 per ounce.