Gold’s price (XAU/USD) is set to keep its winning streak for a fourth straight day this week, currently trading around $2,680 at the time of writing on Friday.
Gold price heads to $2,680 ahead of Nonfarm Payrolls release. The Fed needs to balance recent inflation fears. Gold could be set for a breakout towards $2,700, depending on the US employment report. Gold ’s price is set to keep its winning streak for a fourth straight day this week, currently trading around $2,680 at the time of writing on Friday. Inflation fears keep driving the precious metal higher while the Federal Reserve remains quite sidelined about it by now.
This afternoon’s US employment report will act as a catalyst and could push price action above the resistance zone, with prospects of a rise to $2,700 in the cards. A rejection would mean a move lower, with $2,614 possibly coming back into play. On the downside, the 55-day SMA at $2,653 acts as the first support after it saw a daily close above it on Wednesday. The 100-day Simple Moving Average at $2,633 is the next in line.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Stocks: A Potential Outperformance Opportunity in 2024This article discusses the potential for gold and gold stocks to outperform in 2024 amidst market uncertainty. It analyzes the performance of GLD and GDX, highlighting the underperformance of gold stocks compared to gold. The article suggests that a 'catch up' trade could be in play, with gold stocks closing the gap with stronger gold prices. It also identifies Kinross Gold Corp. (KGC) as a top performer within the gold space.
Read more »
Golden Cariboo Expands Quesnelle Gold Project in Cariboo Gold DistrictGolden Cariboo Resources Ltd. has expanded its Quesnelle Gold Quartz Mine Property by staking 90,989 ha (224,052 acres) of contiguous mineral claims in the northern region of the Cariboo Gold District.
Read more »
Probe Gold Acquires Stella Property with High-Grade Lacoma Gold ZoneProbe Gold Inc. has acquired the Stella Property, strategically located between its Croinor and Megiscane properties in the Val-d’Or East region. The property hosts the high-grade Lacoma gold zone, discovered in 1925, and has potential for further discoveries.
Read more »
Granada Gold Mine Inc. Announces Private Placement and Highlights Granada Gold PropertyGranada Gold Mine Inc. announced a non-brokered private placement of 5.71 million Quebec Flow-Through Shares to raise $200,000. Proceeds will be used for exploration on the Granada Gold Property near Rouyn-Noranda, Quebec. The company provided updates on the property, highlighting its potential and ongoing exploration activities.
Read more »
Endurance Gold Completes Acquisition of Reliance Gold ProjectEndurance Gold Corporation has acquired 100% interest in the Reliance Gold Project, located east of Gold Bridge and north of the historically productive Bralorne Gold Mines. The acquisition was completed through final cash payments and the issuance of shares, totaling $205,000 and 3,100,000 Endurance shares, respectively.
Read more »
NV Gold Extends Exploration Permit at Surselva Gold Project in SwitzerlandNV Gold Corporation announced the renewal of its exploration permit at the Surselva Gold Project, located in Switzerland, extending its validity until October 2030. This renewal allows SwissGold Exploration AG, NV Gold's wholly owned subsidiary, to continue its exploration activities, including geological surveys, drilling, and excavation, within the designated territory.
Read more »