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Gold's price action to pickup with U.S. earnings season - MKS PAMP Group

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Gold is struggling to find solid momentum above the $1,500 level, but U.S. earnings season could help, says MKS PAMP Group. “Although the geopolitical and trade headwinds prevail, we are seeing bullion struggle to build further top-side momentum, however we may see price action pick-up as U.S. earnings season begins,” writes MKS. There is also solid resistance at the $1,500 level, which makes a move higher difficult. “Supportive interest remains evident broadly through USD $1,480 - $1,475, while resistance around USD $1,495 - $1,500 is weighing upon any top-side moves,” MKS adds. Focus today is on the U.S. existing home sales, U.S. monthly budget statement, and the Richmond Fed manufacturing index.

By Anna Golubova of Kitco News; agolubova@kitco.com

 

Gold is on a hunt ‘for fresh directional catalyst’ — FXTM

Tuesday October 22, 2019 09:08

Gold prices are unlikely to move much in either direction until a new catalyst comes along, according to FXTM. “The precious metal is waiting for the next big theme or market-moving event that will influence global sentiment and risk appetite. Until something fresh is brought into the picture, gold is positioned to trade within a modest range in the short to medium term,” writes FXTM senior research analyst Lukman Otunuga. Any prolonged weakness below the $1,500 level would encourage a move down, adds Otunuga. “Looking at the technicals, all eyes will remain on the psychological $1,500 level. Sustained weakness below this point should inspire a decline towards $1,470. Alternatively, a solid breakout above $1,500 will most likely open the doors towards $1,515 and $1,525, respectively.”

By Anna Golubova of Kitco News; agolubova@kitco.com

 

Investors' global worries to support gold: RBC Wealth Management

Tuesday October 22, 2019 09:08

Gold prices will remain supported with geopolitical worries keeping investors interested in the yellow metal, says RBC Wealth Management managing director George Gero. “Look for continued support in gold as investors are seeing more worries in Middle East, Turkey, Chile, Hong Kong, and politics in general,” writes Gero. “Fed is expected to continue easing and Euro Zone bonds showed more easing but steady dollar index is capping metals gains for now.”

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