Gold price has room for extra upside
London (June 30) Gold Price Analysis: Edges lower to test 100-hour SMA support, around $1765 area
Gold extended its subdued/range-bound trading action for the second straight session on Tuesday, forming a rectangle on short-term charts.
A rectangle is usually considered as a continuation pattern that marks a brief pause in the trend (bullish in this case), though sometimes might point to significant tops. Nevertheless, the pattern is not complete until a breakout has occurred. Read more...
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Gold Futures: Room for extra upside
In light of flash data for Gold futures markets from CME Group, open interest extended the uptrend and rose by around 2.1K contracts. Volume, instead, prolonged the choppy activity and shrunk by around 72.3K contracts. Read more...
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Gold eyes biggest quarterly price gain since 2016
Gold looks set to end the second quarter with double-digit price gains.
The yellow metal is currently trading at $1,770 per ounce, representing a 12.4% rally on a quarter-to-date basis. That is the biggest quarterly gain since the first three months of 2016 when prices rose by 16.11%.
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