Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
6 Mar 2018

Gold keeps rising and hits fresh weekly highs near $1340

  • As USD slide continues, gold extends gains. 
  • XAU/USD up 1.35%, having best day since February 14. 

Gold continued to rise during the American session and hit fresh weekly highs. The value of the ounce approached $1340 supported by a slide of the US dollar and risk appetite. 

The price peaked at $1338.55, the highest level since February 26. It was holding near the top with a strong bullish tone. 

The metal continues with the up move that started on Thursday when it bottomed at $1302. Since then climbed more than $30. Yesterday the rally took a pause and resumed today on the back of a decline of the USD. US Dollar Index futures dropped from near 89.90 to 89.42, the lowest in a week.  

The surge in gold is taking place despite talks between North and South Korea that contribute to investor’s risk appetite. Also, the yellow metal showed resilience by keeping gains when US bond yields hit daily highs. 

Technical levels

To the upside, the key immediate resistance is seen around the $1340 area. Above the resistances might lie at $1344 and the $1350 region. On the flip side, support could be seen at $1334, $1331 and $1321. 

Another relevant technical level is the 20-day moving average that stands at $1328. Gold heads for the first close above that line since mid-February, offering another bullish signal. 
 

Mar 6, 2018

GBP/CHF: The Pound trading below key Fibonacci resistance ahead of BoE speech

GBP/CHF daily chart The GBP/CHF is trading virtually unchanged at 1.3020 pinched between the 100 and 200 DMA. Both British Pound and Swiss Franc ar
Read more Previous
Mar 6, 2018

EUR/JPY losing its legs towards key 20-D MA

EUR/JPY is off its highs but looking robust with intermarket demand given the improved risk appetite with Wall Street yesterday and EUR/USD now better
Read more Next