flag-gb flag-my flag-zh flag-id flag-th flag-vi

Gold is trading slightly lower

Gold traded slightly lower in Asia on Friday. Investors continue to digest a large array of economic data and the latest Fed statements.

Data released today showed that China's manufacturing PMI fell from 51.9 to 51.1 in April. The data put pressure on Asian stocks, which is a positive signal for gold and other defensive assets. But this influence of this factor was completely offset by the dynamics of the dollar movement. The dollar index has strengthened by 0.05% since the beginning of the day, putting moderate pressure on the precious metal.

Today, during the European session of trading, investors' attention will be focused on the publication of preliminary data on GDP for and the consumer price index in the EU.

In the US, inflation data will be in the spotlight. The price index of personal consumption expenditures is one of the important indicators of inflation, which is taken into account by the FRS when making decisions on monetary policy.

Other precious metals are trading mixed today. Silver is down by 0.3%, platinum is up by 0.7%, and palladium is up by 0.5%.

On the chart, the initiative is gradually shifting to the sellers. Bears are increasing pressure to the level of 1766.00. A breakdown of this mark will indicate a probable continuation of the downward movement in the direction of the level of 1747.00.

  • Resistance levels: 1774.00, 1795.00, 1810.00.
  • Support levels: 1766.00, 1747.00, 1722.00.

The main scenario is a correction to 1774.00 and a decline below 1766.00.

An alternative scenario is a breakdown of resistance at 1774.00 and growth to 1795.00.

The current fundamental background is neutral. We consider shorts at the level of 1774.00.

Latest news

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

Reduced spreads for popular pairs

2021-02-11 15:07:39

FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications