Looking ahead, if risk-aversion intensifies, the US Dollar uptrend could see a fresh leg higher, exacerbating the pain in the USD-denominated Gold price. However, all eyes remain on the US Q2 GDP revision, Jobless Claims and Pending Home Sales for a fresh directive. Markets will also eagerly await a speech by US Federal Reserve (Fed) Chairman Jerome Powell due...
Gold price remains under some selling pressure for the second successive day on Tuesday – also marking the fifth day of a negative move in the previous six – and drops to a one-and-half-week low during the Asian session. The XAU/USD currently trades just below the 1,915 level, down over 0.10% for the day, and seems vulnerable to weaken further in the wake of...
Gold prices fell as US Treasury bond yields increased and reached their highest level in many years. DXY index reached its highest level in 6.5 months. The DXY index (which measures the greenback's fluctuations against 6 major world currencies) traded at 106.4 points. Daniel Ghali, senior commodity strategist at TD Securities, said investors should pay close...
The Fed has emphasized the importance of maintaining higher interest rates for an extended period to bring inflation back to its 2% target. This stance has raised market expectations for at least one more 25-basis-point rate hike by the end of the year. Additionally, the Fed's "dot plot" now indicates only two rate hikes in 2024, down from the previous projection...
OANDA:XAUUSD The downward trend of the gold price (XAU/USD) continues as the US Dollar remains strong, driven by negative market sentiment and consistent job growth in the United States. The yellow metal is under pressure because it is expected that the Federal Reserve (Fed) will maintain higher interest rates for an extended period. The appeal of the US...
⚡️Gold price today on August 21 continued to decline and reached 1891 due to the increase in USD and bond yields. ⚡️The gold market was under pressure as US Treasury yields and the dollar index rose. Yields on 10-year US Treasuries hit their highest level in 15 years. The USD index recorded a 9-week high, closing the session at 103 points. ⚡️Bond yields rose...
⚡️World gold price this morning continued to increase slightly with spot gold up 2.9 USD to 1,897.2 USD/ounce. December gold futures last traded at $1,926.0 per ounce, up $2.30 from dawn yesterday. ⚡️In yesterday's trading session, 8/22. Short-term offsets and some light bargain hunting are believed to have been the hallmarks of the precious metal's rally, after...
⚡️At the end of the week, spot gold XAU/USD recovered slightly to $1,890, but it remains poised for a 1% weekly drop, the fourth consecutive weekly drop. The metal appears to be consolidating losses after seeing the red for the previous four days and also bullish on risk aversion as the market worries about the health of the Chinese economy. ⚡️The bulls are...
OANDA:XAUUSD prices recently dropped to a low since March of last year, putting pressure on the $1890 area. Market participants are feeling nervous about the changes, especially after the Fed (US Federal Reserve) expressed concern about inflation and the possibility of interest rate hikes. While the US is not the only country facing the challenge, the situation...
TVC:GOLD Price cheers US Dollar decline, as well as mixed effect on market consolidation ahead of top US data/events to depict recovery correction rebound from 5-week low. Going forward, US Retail Sales for July, expected to be 0.4% month-on-month versus 0.2% prior, will be important to keep an eye on the intermediate directions of TVC:GOLD Price. US retail...
Temporary concerns cooled down during trading hours in Europe but continued before Wall Street opened, with XAU/USD trading at a low of 1,902.68 per troy ounce, which aligns closely with the lowest level in July. Ultimately, the positive tone from Wall Street finally interrupted the USD protest rally and helped XAU/USD recover from the aforementioned low level,...
Copper falls below $4 amid slowing global production. The outlook for the yellow metal remains hazy, especially with US interest rates set to remain higher in longer time this year. While gold is expected to benefit from the Fed's final rate cut next year, it is expected to receive limited support in the near-term. BUY GOLD zone 1932 - 1929 Stop Loss :...
Gold 25/07 There are many disadvantages ahead. Gold's outlook is also uncertain as US interest rates are likely to stay higher for longer. The US has not escaped the recession, the fate of the economy is still in the hands of the Fed. BUY GOLD zone 1945 - 1947 Stop Loss : 1940 Take Profit 1: 1950 Take Profit 2: 1955 Take Profit 3: 1965 Note: Installing TP SL...
Gold prices established a new level of support amid persistent dollar weakness, while copper fell sharply on worries about importers. The yellow metal traded close to a one-month high, tracking the dollar's slide to 15-month lows after a series of weak U.S. inflation indicators fueled fish stocks. bet that the Federal Reserve is about to hit its highest interest...
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Gold prices fell during the midday trading session in the US on Thursday following the better-than-expected ADP employment report, which showed double the expected increase in job numbers. The report pushed the US dollar index up from its overnight low and also raised US bond yields. In the end, August gold dropped by $10.50 to $1,916. The June ADP report in the...
Gold prices in Asian trading on Wednesday dropped below the modest gains from the previous day, hovering around the $1,930-$1,931 range or weekly highs. The precious metal traded around $1,924-$1,923, a decrease of less than 0.10% for the day, as traders eagerly awaited the latest monetary policy meeting minutes from the Fed. The Fed has indicated the need for a...