XAUUSD - Modestly up; near-term technicals friendly
Updated
Gold prices slightly increased and silver remained stable in a calm summer trading session on Thursday. The US dollar index was slightly lower, crude oil prices were slightly higher, and US Treasury bond yields decreased slightly, all of which were daily positive factors for the precious metals market. Short-term price trends for gold also showed an upward trajectory. In the last session, August gold increased by $2.6 to $1,983.
Asian and European stock markets experienced mixed movements in overnight trading. US stock indices are heading for a mixed open as the New York trading session begins. US stock indices reached new highs for the year on Wednesday, driven by optimistic sentiment among traders and investors. US inflation is trending lower, and the US economy is neither too hot nor too cold.
Asian and European stock markets experienced mixed movements in overnight trading. US stock indices are heading for a mixed open as the New York trading session begins. US stock indices reached new highs for the year on Wednesday, driven by optimistic sentiment among traders and investors. US inflation is trending lower, and the US economy is neither too hot nor too cold.
Note
In technical terms, gold futures speculators have a short-term technical advantage as prices are in a new uptrend on the daily chart. Their next price target is to close the August futures contract above a strong resistance level at $2,000. On the other hand, bears' short-term price target is to push the futures contract below a solid technical support level at $1,900. The first resistance levels seen overnight were at $1,989 and then $2,000. The first support levels seen on Wednesday were at $1,973 and then Tuesday's low at $1,958.Note
🐾 BUY XAUUSD zone 1959 - 1962⚠ Stop Loss : 1956
💲 Take Profit 1: 1970
💲 Take Profit 2: 1980
Trade active
⭐️BUY Runnings + 30pips 💲💲💲
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.