Key U.S. Indicators to Keep in Mind While Trading in Gold During U.S. Session; Jan 25, 2022

Key U.S. indicators to Keep in Mind While Trading in Gold During U.S. Session

Today U.S. has scheduled to release HPI (House Price Index) data at 1400 GMT/1930 IST and Richmond Manufactuirng Index results at 1500 GMT/2030 IST.

HPI is a leading indicator of the housing industry’s health because rising house prices attract investors and spur industry activity while Richmond Manufacturing Index is derived via a survey of about 55 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment.

Let’s see how gold has reacted during the previous data release:

Dec 28:

Technical View:

XAU/USD (Gold):

  • The Gold trades marginally lower and remains well supported below $1,840 mark.
  • Today pair made intraday high at $1,843 and low at $1,834 mark.
  • A day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $1,847 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,831 will check further supports.
$1,831 $1,847
$1,827 $1,854
$1,821 $1,860
$1,815 $1,864
$1,809 $1,869

Take a look and do trade wisely!
Good Luck