Admiral Markets Group consists of the following firms:

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
CONTINUE

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator fca efsa CySEC asic

Market Analysis: Gold shoots back with a weekly close above 1,300 – more gains to come?

March 18, 2019 10:30

Economic events calendar

Source: Economic Events March 18, 2019 - Admiral Markets' Forex Calendar

Last Thursday, Gold painted a bleak the technical picture, after the precious metal surrendered nearly all of its gains that week, pushing back below 1,300 USD.

As we approached the week's close, however, bulls retook control and pushed Gold to a close above 1,300 USD with the option of further gains in the days to come on the table.

When looking at the 4-hour-chart in Gold, one can spot an initial sequence of peaks in the highs and lows. We can also see that the sharp drop last Thursday can be considered a full regressive move, not penetrating the pre-weekly low around 1,291 USD.

That said, if bulls can keep up the bullish momentum from last Friday, they would pave the path back to a push back above 1,311, with further gains in the days to come up to 1,322 USD becoming a serious option.

The short-term picture would clearly darken with a drop back below 1,291, pushing momentum back down to the important support around 1,275/277 USD:

Gold Index 4 hour chart

Source: Admiral Markets MT5 with MT5-SE Add-on Gold 4-hour-chart (between December 18, 2018, to March 15, 2019). Accessed: March 15, 2019, at 10:00pm GMT - Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of Gold fell by 1.7%, in 2015, it fell by 10.4%, in 2016, it increased by 8.1%, in 2017, it increased by 13.1%, in 2018, it fell by 1.6%, meaning that after five years, it was up by 6.4%.

Download MetaTrader 5 and begin trading today!

Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:

  1. This is a marketing communication. The analysis is published for informative purposes only and are in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
  2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the Analysis.
  3. Each of the Analysis is prepared by an independent analyst (Jens Klatt, Professional Trader and Analyst, hereinafter "Author") based on the Author's personal estimations.
  4. To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
  5. Whilst every reasonable effort is taken to ensure that all sources of the Analysis are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis. The presented figures refer that refer to any past performance is not a reliable indicator of future results.
  6. The contents of the Analysis should not be construed as an express or implied promise, guarantee or implication by Admiral Markets that the client shall profit from the strategies therein or that losses in connection therewith may or shall be limited.
  7. Any kind of previous or modeled performance of financial instruments indicated within the Publication should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
  8. The projections included in the Analysis may be subject to additional fees, taxes or other charges, depending on the subject of the Publication. The price list applicable to the services provided by Admiral Markets is publicly available from the website of Admiral Markets.
Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.