Which news let gold make historic high?

Which news let gold make historic high?
Gold has just created new record high of $2,037 mark. Important to note here that yesterday U.S. released factory orders data with positive numbers against expected one but lower than previous release. U.S. factory orders came at 6.2 pct vs 7.7 pct previous release (expected 5.1).
In addition, U.S. released robust IBD Consumer Confidence data at 46.8 vs 44.0 previous release (expected 45.3). It is a survey of about 900 consumers which asks respondents to rate the relative level of economic conditions including six-month economic outlook, personal financial outlook, and confidence in federal economic policies. Despite all positive U.S. data, U.S. dollar depreciates against major currency peers.
Wall Street edged marginally higher, while the U.S. Treasuries suffered, The U.S. real yield on U.S. treasuries hits record low -1.02% from 0.08% in Jan; hopes still remain as investors await U.S. stimulus deal. Gold and U.S. real yields are inversely related and this makes yellow metal to cross $2000 level.
In addition, Nancy Patricia Pelosi is an American politician serving as Speaker of the United States House of Representatives since 2019 gave comment that she doesn’t think there will be a stimulus deal this week.

Above all the breaking news is China and U.S. is going to assess Trade Deal on August 15.
Current Chart:

Technical View:
XAU/USD (GOLD): Gold creates record high at $2,037 mark in European hours. Today pair made intraday high at $2,037 and low at $2,009 mark. A sustained close above $2,019 requires for the upside rally. Alternatively, reversal from key resistance will take the parity down towards key supports around $1,990, $1,976, $1,962, $1,947, $1,942, $1,931, $1,912, $1,907, $1,881 and $1,862 mark respectively. Key resistances are seen at $2,031, $2,054, $2,062, $2,071 and $2,082 mark respectively.

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