DailyForex analysts monitor the gold market regularly to bring you gold price predictions and gold market forecasts that can help you find the best positions in the gold market.
Our gold forecast signals are good for both forex gold spot market traders and as well as for the long term gold investors in commodities market.
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Gold prices failed to sustain their upward momentum yesterday, unable to breach the resistance level of $2432 per ounce.
Gold prices are in a rebound mode this week, gaining above the $2419 resistance level and recovering from last week's losses that took the price down to the $2384 support level.
At the beginning of this week’s trading, the gold price attempted to rebound upwards due to US political concerns.
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Gold futures fell below $2,400 per ounce, ending the trading week as traders took profits ahead of the weekend.
Gold hit a new all-time high as it moved towards the $2,483 resistance level per ounce, with gains driven by growing optimism that the Federal Reserve will cut US interest rates as early as September.
Gold prices have hit a record high as hopes for U.S. interest rate cuts grow and some traders intensify their bets on a second term for Donald Trump.
For four consecutive trading sessions, the price of gold has been in an upward rebound.
Gold prices are holding near record levels with growing optimism about interest rate cuts from the U.S. Federal Reserve.
I have noticed that the $2,400 level continues to see a lot of interest paid attention to it.
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Gold futures were little changed ahead of two crucial inflation reports later this week.
Gold prices retreated below $2,350 an ounce during yesterday's trading session, extending losses from a one-month high of $2,390 touched on July 5th.
In my daily gold analysis, I cannot help but notice that we are struggling a bit to go higher.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold prices retreated below $2,370 an ounce at the start of trading this week after rising by more than 1% in the previous session to reach the six-week high of $2,393 an ounce.
I have seen quite a bit of negative pressure, but I also recognize that there's a lot of support underneath.
At the end of last week's trading, gold prices jumped to a six-week high after US employment data indicated a gradual slowdown in the labor market, reinforcing expectations of interest rate cuts in the coming months.