Gold Price Analysis August 13

已更新

Fundamental Analysis
Gold prices are struggling to capitalize on the previous day’s strong gain of more than 1% and attracted some intraday sellers near a retested monthly peak in the Asian session on Tuesday. The decline could be attributed to some repositioning ahead of key US inflation figures and a positive risk-on bias, which tends to dampen demand for the safe-haven precious metal.

However, rising geopolitical tensions in the Middle East and concerns about a broader regional conflict could dampen market optimism. This, coupled with dovish expectations from the Federal Reserve (Fed), which put US Dollar (USD) bulls on the defensive, should provide some support to the lackluster Gold prices. Traders are now looking forward to the US Producer Price Index (PPI) for meaningful momentum.

Technical Analysis
From a technical perspective, the overnight breakout above the $2,448-2,450 horizontal resistance is seen as a fresh impetus for bullish traders. Furthermore, the oscillators on the daily chart have gained positive traction, further suggesting that the path of least resistance for Gold is to the upside. Hence, a further move back to challenge the record high, around the $2,483-2,484 region, looks like a clear possibility. Next up is the psychological $2,500 level, which if decisively cleared would set the stage for an extension of the upward trajectory.

On the downside, the $2,450-2,448 resistance now looks to protect the immediate downside, below which, Gold could slide back to the overnight lows around the $2,424-2,423 region. The next relevant support level is anchored near the $2,412-2,410 zone ahead of the $2,400 round-figure mark.

Pay attention to the support-resistance zone for the best trading strategy.

Resistance: 2469 - 2475 - 2486 - 2492- 2500 - 2508
Support: 2459 - 2446 - 2434 - 2425

Sell 2485 - 2487, Stoploss 2491
Sell 2500 - 2502, Stoploss 2506
Buy 2435 - 2433, Stoploss 2429
Buy 2426 - 2424, Stoploss 2420

交易开始

Gold hits resistance after rallying on lower yields and geopolitical tensions
Gold rally hits resistance from the top of its late-summer range and pulls back. Bullish drivers are strong in the form of simmering geopolitical tensions and falling US bond yields. US inflation data this week could color the outlook and increase volatility for Gold.

交易结束：到达目标

Gold struggles to hold above $2,470 following Monday's upsurge
Gold stays in a consolidation phase below $2,470 after rising more than 1.5% on Monday. Although the benchmark 10-year US Treasury bond yield continues to stretch lower, the improving risk mood makes it difficult for XAU/USD to preserve its bullish momentum.

交易开始

Gold price remains on the defensive amid repositioning ahead of the US CPI data release
Gold price turns lower for the second straight day, though the downside seems limited. A positive risk tone is seen undermining the safe-haven metal ahead of the US CPI report. Geopolitical risks, bets for bigger Fed rate cuts and subdued USD demand to lend support.

Gold drops below $2,460 as markets assess US inflation figures
Gold remains under modest bearish pressure and trades below $2,460 in the second half of the day on Wednesday. Although the US Dollar stays on the back foot after the July CPI data, XAU/USD finds it difficult to push higher as sentiment turns mixed.