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04/08/2015 15:28 AST
Gold has halted the recent decline and has been consolidating in a range between 1080 and 1105 for the past week or so, with the price direction quite volatile and trading opportunities limited. Gold is clearly attempting to form a base here for a rally back towards 1130-1040, however a break of recent lows near 1080 will suggest another sharp down leg is underway, with 1050 the first target and 1000 below that.
A general weakness in commodities, primarily driven by Chinese economic uncertainty, is helping to depress the gold price, with the Eurozone situation a lot calmer since Greece went to the edge of the abyss and peered over a few weeks back.
Equities remain weak as the uncertainty in China weighs on prices, whilst oil continues to tumble with the price now well below $50 a barrel and looking very weak.
Support can be found at 1080, 1074, 1045, 1000, 950, 867 and 806. The break of 1130 is very bearish for gold and suggest a return to 1000-1050 in the first instance.
Resistance can be found at 1103-1106, 1110, 1130, 1142, 1147, 1163, 1170, 1175, 1184, 1204, 1208-1210, 1215, 1220-1223, 1235 and 1252-1256. Gold has broken below the 2014 lows and looks be headed much lower.
Investing.com
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Gold | 5,058.66 | 99.64 | 2.01 |
| Silver | 83.4 | 5.63 | 7.24 |
| Platinum | 2,123.5 | 12.5 | 0.59 |
| Palladium | 1,733 | 12 | 0.7 |
11/02/2026
Dubai gold prices moved higher again on Wednesday morning, tracking gains in global bullion markets and reviving buying interest across jewellery counters.
At 9.10 am, 24K gold was priced at
Gulfnews
10/02/2026
Gold prices rose above Dh600 per gram again at the start of the week due to a weaker US dollar.
The 24K gold price in Dubai rose to Dh603.75 per gram on Monday morning while 22K, 21K, 18K an
Khaleej Times
10/02/2026
Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.
Spo
Asharq Al Awsat
04/02/2026
Gold prices bounced back in Dubai on Tuesday morning, recovering some of the losses recorded in the previous session.
The 24K gold price jumped Dh19 per gram to Dh579.75 per gram at the open
Khaleej Times
03/02/2026
Gold and silver prices pared some losses but remained under pressure on Monday, after increased CME margin requirements added to the selling pressure following last week's selloff sparked by Kevin Wa
Asharq Al Awsat
Financial Information Co.
Saudi Arabia