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USD Index and Gold Trend

Gold has tested the 1343-1345 2 times because of the weak USD index. There is a big gap from 1343 to 1348 and gold will make a correction if the USD index makes a recovery of recent sell-off.

The 1331-1333 is an important zone to watch for gold correction. Gold will drop fast after breaking the 1331-1333 and it may drop to 1299-1301.

Dec 1 – USDJPY and Gold Trend for Dec 2017

The USDJPY has made a strong bounce from the 110.90-111.00 zone to 112.50 and as a result, gold has been sold off from 1295 to 1270. Gold is currently going up or down following the USDJPY and it has been moving from the range 1265-1295 for many days.

Gold is expected to trade choppy from 1265-1295 until it breaks out of this range to start a new trend. The US Dec rate hike may be an event to trigger a break of the 1265 so that gold will drop to 1220 or gold will move to 1350 if the market returns to safe asset because of North Korea tension or a crash of UK stock market.

Nov 28, 2017 – US GDP Report and Gold Trend

Mr. Powell has confirmed the continuation of current Fed monetary policy which means that the Fed will raise interest rate in Dec, 2017.  The USD has been up since then and which makes gold failing to break the 1296-1297 zone.  Gold is currently moving up or down following the USDJPY and the USD GDP report at 13:30 GMT.

North Korea made an ICBM test yesterday, but gold didn’t go up as a safe heaven assets. Gold is following USD index and if the USDJPY confirms a bottom around 110.90-111.00 then gold will drop to test the 1265-1270 soon.

The 1291-1293 is an important zone to watch for gold down trend. Gold will be sold off to 1283-1285 if it can break the 1291-1293 before the US GDP Report at 13:30 GMT.

A bad US GDP Report release will make USDJPY to get sold off and gold will move to 1305-1307 and further.

Will gold break the 1295-1300?

Gold has dropped from 1355 to 1265 when the Korea news faded. and Gold has been trading from 1265 to 1295 for many days. Every time gold moved to 1295 it got strong sold off, however gold has a big chance to break the 1295 this time because it is going up instead of dropping down when there is news of US interest rate hike Dec 2017.

 

A successful break-out of the 1295 will start a new trend and gold will move up to test the 1350-1355. However, gold will drop to test the 126–1265 one if it fails to break the 1295-1300.

There is US Holiday this weekend and strong volatile is expected to during this period – a strong up or down movement may happen this time

Gold after the Fed and Brexit Article 50

The UK triggered the official Brexit process but gold and forex pair made limited movement yesterday. Gold has moved from 1247 to 1255 for many hours to wait for a break-out of the 1248-1257 to start a new trend.

The USD Dollar Index has gone up after the Euro committee made a correction to its momentary policy announcement yesterday and Fed official Eric Rosengren said there would be three more rate hikes this year. Gold has been traded around 1248-1251 zone for the entire today’s Asian and Euro trading sessions.

Gold Trend is in consolidation

Gold Trend is in consolidation

Gold trend is in consolidation to wait for U.S jobless and U.S GDP reports at 8:30 AM, the released number of these two economic reports will make a strong gold price movement to start a new trend in which the 1255-1257 is an important zone to watch up-trend.