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
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields -via @DailyFX Link to Full Analysis: $XAUUSD $GLD $GC_F
  • The US Dollar is losing ground against a few ASEAN counterparts. USD/SGD, USD/IDR and USD/PHP seem to be maintaining a downside bias. USD/THB may rise. Get your market update from @ddubrovskyFX here:
  • Treasury Sec. Yellen: - Investments and tax proposals in "Jobs Plan" will enhance net profitability of corporations, improve global competitiveness - These are investments to make the economy more competitive and sustainable
  • Treasury Sec. Yellen: - Corporate sector must bear its fair share, plan to return corporate tax toward the historical norm - We will target incentives for companies to move funds, operations overseas
  • Treasury Sec. Yellen: - We must improve public R&D to maintain America's technological edge - We must build support systems to improve quality of life and opportunities for those most impacted by wealth inequality
  • Treasury Sec. Yellen: - We must reorient the framing of US fiscal policy - Poor US fiscal policy has meant infrastructure wasn't maintained or modernized
  • Treasury Sec. Yellen: - Innovation required from public & private sector to improve the economy - We must invest in public infrastructure and institutions that drive productivity
  • Treasury Sec. Yellen: - Wage gains and profits have benefitted the top families in America - Middle class families have faced wage stagnation
  • Bitcoin lower for the 4th consecutive day, but crucially held above $42,000 #BTC #Bitcoin $BTCUSD
  • US Dollar Index extends its recent decline, dips back below 90 $USD $DXY
Gold Prices Eye Key Resistance, Silver Prices Outperforming Gold

Gold Prices Eye Key Resistance, Silver Prices Outperforming Gold

Justin McQueen, Analyst

Gold & Silver Price Analysis and Talking Points:

  • Gold Prices Focus on Pivotal Resistance
  • Silver Price Outlook | Outperforming Gold as Prices Eye Key Resistance

See our quarterly gold forecast to learn what will drive prices throughout Q3!

Gold Prices Focus on Pivotal Resistance

Gold prices have managed to consolidate above the $1400 as slowing Chinese growth provides yet another reminder of the deteriorating economic outlook. Overnight, Chinese Q2 GDP fell to 6.2% from 6.4%, marking the weakest quarterly growth since 1992. However, while gold prices pulled off its lows of the day since the release, the precious metal remains contained, given that weaker Chinese data raises the scope for fresh stimulus. Alongside this, the rest of the data had been relatively firm with both retail sales and industrial output beating analyst estimates, which in turn, suggests that the stimulus that the government has already provided is potentially having a positive impact going into the second half of the year. Going forward, with little on the economic calendar, focus will turn towards Fed’s Williams, who is a voter this year.

On the technical front, technical resistance remains pivotal for the precious metal. Given the series of lower highs and with the weekly time frame showing the RSI hovering in overbought territory, there is a risk of a slight pullback. Although, any pullbacks are likely to be well supported amid the backdrop of slowing global growth coupled with the Fed looking to ease monetary policy.

GOLD Technical Levels

Resistance 2: $1435-40 (Double-Top)

Support 1: $1380 (July low)

Support 2: $1373 (23.6% Fib)

GOLD PRICE CHART: Daily Time-Frame (Aug 2018 -Jul 2019)

Gold Prices Eye Key Resistance, Silver Prices Outperforming Gold

What You Need to Know About the Gold Market

Silver Price Outlook | Outperforming Gold as Prices Eye Key Resistance

Silver prices have continued to edge higher since finding support at the psychological $15 level, which is now eyeing key resistance in the form of the 38.2% Fib level at $15.33. Last week, we had highlighted that the surge in ETF buying of silver bolds well for the outlook, while at the same time we continue to expect silver to outperform gold on a pullback in the gold/silver ratio which hovers around a 20yr high.

Silver Price Chart: Daily Timeframe (Oct 2018 – Jul 2019)

Gold Prices Eye Key Resistance, Silver Prices Outperforming Gold


--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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