Categories: Financial NewsMetals

Gold Prices Subdued Below 1850

February 4, 2021

By Orbex

The precious metal is posting modest declines a day after the precious metal fell over 1.2%. However, price action remains well supported above the 1817.80 level.

In the near term, we expect price action to remain trading flat within the 1850 and 1817.80 levels.

The Stochastics oscillator is currently slipping into the oversold level. This could indicate further near-term downside.

Stronger price action is, however, expected on the back of fundamentals. This is especially regarding the Coronavirus stimulus bill.


Free Reports:

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





By Orbex

InvestMacro

Share
Published by
InvestMacro

Recent Posts

Speculator Extremes: Silver, Copper, Coffee & VIX lead Futures Positions

By InvestMacro The latest update for the weekly Commitment of Traders (COT) report was released…

23 hours ago

Week Ahead: US500 braced for jam-packed week

By ForexTime  US500 ↓ 4% month-to-date High impact events could rock index Fed decision, earnings…

2 days ago

Today, investors’ focus is on the PCE Price Index inflation report

By JustMarkets As of Thursday's close, the Dow Jones Industrial Average (US30) was down 0.98%, while the…

2 days ago

Gold price recovers amid uncertain US economic outlook

By RoboForex Analytical Department The price of a troy ounce of gold climbed to 2330.00 USD…

2 days ago

This “Bullish Buzz” Reaches Highest Level in 53 Years

Learn what the AIM Index reveals By Elliott Wave International Yes, there's been a recent…

2 days ago

The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today’s globalized system

By Peter A. Coclanis, University of North Carolina at Chapel Hill and Leon Fink, University…

3 days ago

This website uses cookies.