Gold Trades Flat Ahead of Key U.S. Indicators, $15+ Volatility Expected; Jan 21, 2021

U.S. Philly Fed Manufacturing Index

U.S. has scheduled to release Philly Fed Manufacturing Index data along with building permits, housing starts and unemployment claims weekly data. The release time of all the key fundamental indicators will be same at 1330 GMT/1900 IST. As all the indicators are releasing together, mixed data may capture market volatility.

Here I am briefing you out regarding U.S. Philly Fed Manufacturing Index. It’s a leading indicator of economic health – businesses react quickly to market conditions and changes in their sentiment can be an early signal of future economic activity such as spending, hiring and investment. This data is derived via survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions.

Let’s see how Gold has reacted during the previous data release:

Dec 17:

Nov 19:

Technical View:

XAU/USD (Gold): Gold trades flat ahead of key indicators from the U.S. itself. The pair made intraday high at $1,875 mark while low at $1,866 mark. A sustained close of a daily candle above $1,873 requires for the upside rally. Alternatively, reversal from key resistance will drag the parity down back below $1,850 mark.

Key Resistances: $1,885, $1,894, $1,902, $1,912

Key Supports: $1,862, $1,857, $1,848, $1,840

Take a look and do trade wisely!
Good Luck

Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts



Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close