Annuncio pubblicitario
Italia markets close in 7 hours 7 minutes

  • FTSE MIB

    34.489,40
    +125,65 (+0,37%)
     

  • Dow Jones

    38.503,69
    +263,71 (+0,69%)
     

  • Nasdaq

    15.696,64
    +245,33 (+1,59%)
     

  • Nikkei 225

    38.460,08
    +907,92 (+2,42%)
     

  • Petrolio

    83,40
    +0,04 (+0,05%)
     

  • Bitcoin EUR

    62.360,02
    +527,91 (+0,85%)
     

  • CMC Crypto 200

    1.436,68
    +12,58 (+0,88%)
     

  • Oro

    2.331,00
    -11,10 (-0,47%)
     

  • EUR/USD

    1,0692
    -0,0013 (-0,12%)
     

  • S&P 500

    5.070,55
    +59,95 (+1,20%)
     

  • HANG SENG

    17.201,27
    +372,34 (+2,22%)
     

  • Euro Stoxx 50

    5.030,97
    +22,80 (+0,46%)
     

  • EUR/GBP

    0,8599
    +0,0004 (+0,05%)
     

  • EUR/CHF

    0,9768
    +0,0012 (+0,13%)
     

  • EUR/CAD

    1,4619
    +0,0002 (+0,01%)
     

Gold Price Prediction – Prices Ease and Settle Down Nearly 5% for the Week

David Becker
·2 minuto per la lettura

Gold prices eased despite a falling dollar and lower yields. The yellow metal was unable to gain traction and traded sideways following a smaller than expected increase in retail sales.  Industrial production also increased 3% which was in line with expectations following a robust rise in June. For the week gold prices were down nearly 5%.

Trade gold with FXTM

Technical analysis

Gold prices eased on Friday and finished up the week down nearly 5%. Resistance is seen near the 10-day moving average at 1,987. Target support is seen near the 50-day moving average at 1,839. Short-term momentum has turned negative as the fast stochastic moved lower but it appears that the momentum index is decelerating reflecting some consolidation. Medium-term momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line). The MACD histogram is printing in the red with a declining trajectory which points to accelerating negative momentum.

US Retail Sales Rose Less than Expected

US retail sales rose 1.2% in July, versus the expected increase of 2.3%. Excluding autos, the gain was 1.9%, ahead of the 1.2% estimate. Industrial production, including output at factories, mines and utilities, rose climbed 3% in July after surging 5.7% in June. Production remains 8.4% below its level in February before the spread of COVID-19 the United States.

ANNUNCIO PUBBLICITARIO

This article was originally posted on FX Empire

More From FXEMPIRE: