Gold Price Analysis: Trader Reaction to $1738.60

Gold Price Analysis

Gold Price Analysis: Gold futures are edging higher early today, mirroring the price action in U.S. Treasury yields and the U.S. Dollar. Nonetheless, the market is still hovering just above a seven-week low that was struck the previous session as Treasury yields jumped on growing expectations of an earlier-than-anticipated interest rate hike by the U.S. Federal Reserve.

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Gold Price Analysis: Trader Reaction to $1738.60 via @marketinvestor

Gold Price Forecast: Downside Bias Building as Bets on Early Fed Tapering Rise

Gold Prices Forecast

Gold Price Forecast: On Friday gold futures as investors continued to wait for clarity over the U.S. Federal Reserve’s tapering timeline. Although most major investors are likely keeping their power dry ahead of the Fed’s September 21-22 policy meeting, we do know from the recent price action that they are aware of the importance of a pair of 50% levels at $1795.00 and $1800.00.

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Gold Price Forecast: Downside Bias Building as Bets on Early Fed Tapering Rise via @marketinvestor

Gold Price Analysis: Failure At $1795.00 Could Drive Market into $1757.40 – $1738.60

Gold Price Analysis

Gold Price Analysis: Gold futures plunged yesterday as sellers came in strong following the long U.S. holiday weekend. Friday’s feeble attempt at an upside breakout failed because of low pre-holiday volume. Meanwhile, weak buyers who bought Friday’s U.S. jobs report headline were forced to liquidate their positions.

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Gold Price Analysis: Failure At $1795.00 Could Drive Market into $1757.40 – $1738.60 via @marketinvestor

Gold Price Futures Analysis: $1795.00 to $1828.80 Zone Controlling Near-Term Direction

Gold Prices Forecast

Gold Price Futures Analysis: Gold futures finished slightly lower on Wednesday but remained in a tight trading range on relatively low volume, suggesting investor indecision and impending volatility. Traders essentially shrugged off mixed U.S. economic data while focusing on the direction of U.S. Treasury yields and the U.S. Dollar.

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Gold Price Futures Analysis: $1795.00 to $1828.80 Zone Controlling Near-Term Direction via @marketinvestor