(VIANEWS) – The recovery of gold from its five-month lows isn’t looking strong. It failed to gain acceptance beyond $1750 as the US dollar holds the gains fueled by Friday’s NFP statistics. Expectations of an earlier Fed tapering were fueled by a big beat on Friday’s US employment report. Investors are now weighing the consequences of Fed tapering earlier than expected. All eyes will be on this week’s US inflation report.
FXStreet reported that gold price forecast (XAU/USD) as bearish and still vulnerable.
Today’s last reported volume for Gold is 223875, 99.99% below its average volume of 33529579538.54.
Concerning Gold’s daily highs and lows, it’s 3.139% up from its trailing 7 days low of $1,758.40 and 1.215% down from its trailing 7 days high of $1,835.90.
Gold’s last week, last month’s, and last quarter’s current volatility was a negative 0.10%, a positive 0.10%, and a positive 0.49%, respectively.
Gold’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.13% (last week), 0.32% (last month), and 0.49% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Gold’s commodity is considered to be overbought (>=80).
Last news about Gold (GC)
Auteco minerals looks to the future at flagship pickle crow gold project. According to Proactive Investors on Friday, 6 August, “Auteco Minerals Ltd (ASX:AUT, OTC:MNXMF) is heading into the new financial year on a mission to further develop the 1.7-million-ounce Pickle Crow Gold Project in Ontario, Canada.”, “Earlier this week, Auteco announced its second stage expenditure requirement, detailed under the earn-in agreement with First Mining Gold, has been satisfied, meaning the ASX-lister can now move to 70% equity ownership of the Pickle Crow Gold Project.”
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