Gold prices inched lower on Tuesday, dropping for the first time in four sessions, as the dollar rebounded from multi-week lows amid simmering Sino-U.S. trade tensions and as bullion failed to surpass strong resistance.

Signals are mixed for spot gold as it failed twice to break a resistance at $1,287 per ounce.

However gold seems to have found a base around $1,270 despite failing to break much higher.

Hedge funds and money managers sharply reduced their net long positions in COMEX gold in the latest week.

Where are commodity prices heading next?  Watch Phil Carr at The Gold & Silver Club review Gold with the latest price forecast and predictions:

Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD stays in daily range slightly below 1.0900

EUR/USD stays in daily range slightly below 1.0900

EUR/USD continues to move up and down in a narrow band slightly below 1.0900 in the second half of the day on Monday. The modest improvement seen in risk mood makes it difficult for the US Dollar to find demand and helps the pair stay in range.

EUR/USD News

GBP/USD treads water above 1.2900 amid risk recovery

GBP/USD treads water above 1.2900 amid risk recovery

GBP/USD is keeping its range play intact above 1.2900 in the American session on Monday. The positive shift seen in risk sentiment doesn't allow the US Dollar to gather strength and helps the pair hold its ground ahead of this week's key data releases.

GBP/USD News

Gold extends slide below $2,400

Gold extends slide below $2,400

Gold stays under persistent bearish pressure after breaking below the key $2,400 level and trades at its lowest level in over a week below $2,390. In the absence of fundamental drivers, technical developments seem to be causing XAU/USD to stretch lower.

Gold News

Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews

Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews

Bitcoin trades around $68,000 early on Monday, less than 10% away from its all-time high of $73,777 on Binance. Ethereum ETF anticipation brews among traders and Ether investment products see inflow of over $45 million in the past week. 

Read more

Election volatility and tech earnings take centre stage

Election volatility and tech earnings take centre stage

The US Dollar managed to end the week higher as Trump Trades ensued. Safe-havens CHF and JPY were also higher while activity currencies such as NOK and NZD underperformed.

Read more

Majors

Cryptocurrencies

Signatures