News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.33% Silver: 0.05% Oil - US Crude: -0.05% View the performance of all markets via
  • The recent AUD/JPY rally appears to be stalling below 86.000, with the pair relatively flat on the session $AUDJPY
  • #Euro Technical Forecast: $EURUSD Pressured into #ECB- Breakout Levels -
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.05%, while traders in USD/JPY are at opposite extremes with 73.98%. See the summary chart below and full details and charts on DailyFX:
  • A day full of meetings and I've always had one eye fixed on this $GOOG rally. Last nights afterhours reticence didn't do this stock (and MSFT) justice. Impressive
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.29% US 500: 0.22% France 40: 0.19% Germany 30: 0.13% Wall Street: -0.16% View the performance of all markets via
  • RT @DeItaone: *Natural Gas Jumps 4.3% to Session-High $6.134 Ahead of Contract Expiration
  • Bitcoin prices have recently pulled-back from the recent high, at around $67,000 after the release of the futures ETF last week. Get your $btc market update from @Tams707 here:
  • Billionaire tax out apparently
  • RT @BrendanFaganFx: 75 counterparties take $1.433 trillion at Fed's fixed-rate reverse repo $USD $DXY
Gold Price Analysis: Sitting on Support, Will it Hold?

Gold Price Analysis: Sitting on Support, Will it Hold?

Nick Cawley, Strategist

Gold Price Analysis, News and Pivot Points.

  • Gold remains weak and sits on 61.8% Fibonacci retracement.
  • US Treasury yields pick-up boosting the US dollar.

DailyFX Gold Landing Page – Prices, Charts, Analysis and Real-Time News

Gold continues to remain at multi-day lows and is straddling a strong technical level that needs to hold if the precious metal is to re-coup any of its recent losses. The precious metal is currently trading around $1,286.5/oz. just a tick below the 61.8% Fibonacci retracement level at $1,287/oz. of the April – August 2018 sell-off. There are also various horizontal support levels between $1,276/oz. and $1,285/oz. which may slow down any further sell-off. Below here the 50% Fibonacci retracement at $1,262.8/oz. and the 200-day moving average currently at $1,251/oz.

The chart is looking oversold in the short-term with the CCI indicator around -138 which may provide some support in the next few days. To the upside, $1,300/oz. ahead of $1,302/0z and $1,308/oz. the 20- and 50-day moving averages.

There are various US economic releases over the next few days which will steer the US dollar, and with-it gold, finishing with the latest US Labour Report (NFP) on Friday. US Treasury yields have started to pick-up this week, after slumping to, or near, multi-month lows last week and Friday’s jobs and wages report will be watched closely to see if the jobs growth can continue.

US Dollar Weekly Technical Outlook; USD Starting to Look Exhausted.

How to Trade Gold: Top Gold Trading Strategies and Tips.

Gold Chart Daily Time Frame (April 2018 – April 2, 2019)

Gold Price Analysis: Sitting on Support, Will it Hold?Gold Price Analysis: Sitting on Support, Will it Hold?

IG Client Sentiment shows that retail traders are heavily net-long of Gold, a bearish contrarian indicator.

--- Written by Nick Cawley, Market Analyst

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.