{"id":153056,"date":"2019-08-07T11:55:53","date_gmt":"2019-08-07T15:55:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153056"},"modified":"2019-08-07T11:30:58","modified_gmt":"2019-08-07T15:30:58","slug":"gold-blasts-above-1500-as-bulls-shift-into-higher-gear","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/gold-blasts-above-1500-as-bulls-shift-into-higher-gear\/","title":{"rendered":"Gold blasts above $1500 as bulls shift into higher gear"},"content":{"rendered":"<div id=\"inves-3942981521\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 7, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong><span class=\"author-description-author\">By Lukman Otunuga, Research Analyst<\/span>, <\/strong><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\"><strong>ForexTime<\/strong><\/a><\/p>\n<div class=\"article-body\">\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>Gold leapt more than 1.5% to a fresh six-year high on Wednesday after three central banks cut interest rates in the face of slowing global growth and persistent trade tensions.<\/p>\n<p>Unfavourable global macroeconomic conditions, US-China trade disputes and Brexit drama among many other geopolitical risk factors have accelerated the flight to safety. With central bank across the world joining the global monetary easing train, zero-yielding Gold is poised to perform incredibly well in this low-interest rate environment. The precious metal remains technically and fundamentally bullish and this continues to be reflected in price action.<\/p>\n<p>Focusing on the technical picture, a solid daily close above $1500 is likely to strengthen bulls further and open the doors to $1530. Should $1500 prove to be a stubborn resistance, the precious metal is likely to retrace back towards $1490.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/xauusddaily_587.png\" alt=\"\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/xauusdmonthly.png\" alt=\"\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<\/div>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"https:\/\/www.countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener noreferrer\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Lukman Otunuga, Research Analyst, ForexTime Gold leapt more than 1.5% to a fresh six-year high on Wednesday after three central banks cut interest rates in the face of slowing global growth and persistent trade tensions. Unfavourable global macroeconomic conditions, US-China trade disputes and Brexit drama among many other geopolitical risk factors have accelerated the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-153056","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=153056"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153056\/revisions"}],"predecessor-version":[{"id":153061,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153056\/revisions\/153061"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=153056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=153056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=153056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}