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Gold prices forecast XAUUSD 14.10.2019 Gold prices recovered


Gold trades on Monday in a green area amid falling investor optimism about the prospects for an early conclusion of a trade agreement between the US and China. Last week, the parties managed to achieve some progress, but the negotiations can not be called a breakthrough, because the key differences remain. We managed to agree only on increasing China's purchases of US agricultural products worth $ 40-50 billion. The two sides also agreed to refrain from imposing duties scheduled for October.


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Investors fear the new escalation of the conflict against the background of visa war between the official Beijing and Washington. In the US last week refused to grant visas to a number of Chinese diplomats, who they believe are involved in the violation of the rights of national minorities. Later on the limitation on the issuance of visas for American diplomats said Beijing.

Today in the US celebrated Columbus Day and no important economic data is expected. Therefore, the main impact on the dynamics of movement of gold will continue to provide news and geopolitical situation in the stock market.

On the chart of gold was found in relatively strong price rebound from the level of 1475.00, in which the price has been able to return to the level of 1485.00. It is a good signal towards further development of the upward movement in the direction of levels of 1500.00 and 1510.00.

Levels of resistance XAUUSD: 1500.00, 1510.00, 1525.00;                                                 

Support levels XAUUSD: 1485.00, 1475.00, 1460.00.

The main scenario - an increase in gold prices to 1500.00.

Alternative Scenario - XAUUSD consolidation below 1485.00 and retest the support at 1475.00.

News background on the market can be described as neutral. On XAUUSD chart locally prevail bovine signals. Within days we consider buying gold at lower rate to 1485.00 and below


Gold prices forecast  FORTFS



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