Gold Prices

The gold price is quoted at $1709 ahead of the weekend with studies of the outlook conducted by Hantec Markets analyst Richard Perry showing the precious commodity has found a new pivot level that will dictate near-term action.

The spot price of gold is quoted 0.50% higher at $1709 at the time of writing, despite the gains analyst and technical forecaster Richard Perry of Hantec Markets says the bullish outlook for the commodity has been compromised by recent price action.

The spot gold price is quoted half a percent lower at $1718 but Richard Perry, an analyst and technical forecaster at Hantec Markets, says weakness should still be viewed as a chance to buy.

The spot price of gold is located at $1740 and despite a four-day recovery analyst and technical forecaster Richard Perry of Hantec Markets says a break to fresh highs still remains elusive.

Gold prices are firmer at $1736 at the start of the new week and month, with analyst and technical forecaster Richard Perry of Hantec Markets saying the next resistance is $1754 before the $1764 key May high.

The spot gold price is quoted at $1725 ahead of the weekend, with analysts and technical forecaster Richard Perry of Hantec Markets lays out the key levels to consider for traders now the market is back at a crossroads.

Gold prices are quoted at $1724 at the time of writing and Richard Perry, an analyst and technical forecaster at Hantec Markets, says it is back at a key crossroads.

Gold prices are have fallen for three days in succession now and mid-week trade sees the precious metal lower at $1708. Analyst and technical forecaster Richard Perry of Hantec Markets says there is a risk gold shifts into a near-term downtrend.

The spot price of gold is at $1723 at the time of writing as the precious metal struggles in a 'risk on' market environment. Analyst and technical forecaster Richard Perry of Hantec Markets says gold prices are at an important crossroads.

The spot price of gold is trading at $1735 ahead of the weekend, up slightly on rising geopolitical tensions concerning, China, the U.S. and Hong Kong. However, analyst and technical forecast Richard Perry at Hantec Markets says he is cautious on the metal's ability to push higher.

Gold prices are seen lower on Thursday at $1731, analyst Richard Perry at Hantec Markets says the technicals underpinning the gold market remain supportive.

The gold price is at 1750 in mid-week trade with investors pondering whether fresh highs are on the cards over coming days. Richard Perry, an analyst with Hantec Markets, says the bulls appear to be back on track.

Gold prices retain a bullish tone says analyst Richard Perry at Hantec Markets, even if a highly-anticipated breakout to fresh new highs has not yet materialised.

A backdrop of lacklustre economic growth and ballooning central bank balance sheets could create the perfect conditions for a spike in inflation, which could in turn provide the perfect conditions for a significant rally in gold prices according to analysts.

The gold price was trading near to multi-year highs on Thursday but has been forecast to rise another 12% before year-end as the coronavirus response of the Federal Reserve (Fed) and other central banks stokes debasement fears and demand for the “currency of last resort”. 

The gold price was closing in on a seven-year high Wednesday and has this week been tipped to rise another five percent in the coming three months, although any further interest rate cuts from the Federal Reserve (Fed) could push the previous metal even higher by the end of 2020.

“Beyond a period of near-term consolidation we think gold should rise again” - UBS.

The Pure Gold Company are today reporting a 378% increase in first time investors purchasing gold bars and coins over the last seven days (compared to the weekly average for 2019), with many deeply concerned there will be a severe global recession driven by systemic geopolitical risks.

The negative rate environment is having unintended consequences, one of which is the ressurection of gold as a safe-haven.