MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

GOLD regained momentum as expected to push towards $1300. May 31, 2019

Gold has inched up drastically bouncing off the $1276 area recently.

After the back-and-forth on how good the trade war could be for gold, gold is benefiting again from speculation over a possible Fed easing. It could reattempt topping $1,300 as US inflation proves weaker than thought. For the second day in a row, both gold and the dollar rose together, with gold coming into its own after lagging the greenback lately as a hedge to the trade war. As per certain speculators, Gold is holding well, even with the dollar index at over 98, and ignoring that headwind is positive as global economic and political worries persist.

The US personal consumption expenditures price index, released Thursday, showed a 1.0% growth rate last quarter, excluding volatile food and energy components. It was the smallest increase in four years in the so-called PCE, the Fed's preferred inflation measure, and pushed inflation further below the central bank's 2% target. The PCE previously rose at a 1.3% pace. Inflation has lately been running below levels targeted by the Fed, placing its Chairman Jerome Powell again under the scrutiny of President Trump, who's been pressuring for lower interest rates. Powell said recently he believed the soft inflation environment may wind up being transient.

As of the current scenario, the price broke above $1289 price area with a daily close which is heading towards $1300-10 resistance area. MACD line residing above Zero line while having a bullish crossover along the bullish heightening histogram does signal further upward pressure in the coming days. As the price remains above $1265 with a daily close, the impulsive bullish pressure is expected to persist further.

SUPPORT: 1265, 1276

RESISTANCE: 1289-90, 1300-10

BIAS: BULLISH

MOMENTUM: VOLATILE

analytics5cf0acd7308b9.png

The material has been provided by InstaForex Company - www.instaforex.com