Gold Technical Analysis: The precious metal enters Asia below $1460/oz
Gold is trading below the 50 and 100 SMAs on the daily chart while nearing the 1445 swing low. A break below this level could send the market down near the 1400 handle. Earlier in the New York session, the GDP expanded 2.1% in Q3 (second estimate) vs. 1.9% expected, weighing on XAU/USD. Read more …
Gold firmer on news that Pres. Trump signed Hong Kong bill
Gold has popped a few bucks on the news that US President Trump has said signed the Honk Kong bill and subsequently said, “I signed these bills out of respect for President Xi, China, and the people of Hong Kong. ” Gold rallied $3.46c/oz on the news to test its 50-hour moving average. Markets have been unusually desensitised to trade headlines in recent sessions, despite conflicting headlines and themes. Read more …
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