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Gold remains steady at 2,930 USD per troy ounce on Wednesday, hovering near last week’s record high of 2,940 USD. Ongoing concerns over US trade tariffs and global uncertainties continue to drive demand for safe-haven assets. Key factors driving Gold prices Escalating US trade tensions – On Tuesday, US President Donald Trump announced plans to impose […]

The post Gold to Extend Rally as Market Conditions Remain Favourable appeared first on Action Forex.

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23/08/2024

Gold Outlook: Near Term Tone Firmed Ahead of Key Event – Powell’s Speech in Jackson Hole

Gold regained traction and bounced on Friday, reversing so far around a half on Thursday’s 1.1% drop, which broke and closed below psychological $2500 level. Top of the former range at $2480 zone performed as solid support and contained dip, which also closed above rising 10DMA, adding to idea that deeper pullback was just positioning […]
08/01/2025

Gold (XAUUSD): Elliott Wave Analysis Predicts the Decline from Extreme Zone

In this technical article we’re going to take a quick look at the Elliott Wave charts of GOLD commodity ( XAUUSD ) , published in members area of the website. As our members are aware, XAUUSD recently completed a 3-wave recovery against the 2726.1 peak. The commodity found sellers right at the equal legs zone. […]
17/01/2025

China’s GDP Beats Forecast, Aussie Shrugs

The Australian dollar has edged lower on Friday. In the European session, AUD/USD is trading at 0.6198, down 0.22% at the time of writing. Will strong China numbers boost the Aussie? There was good news out of China on Friday, highlighted by GDP which was stronger than expected. The economy expanded by 5.4% y/y in […]