The gold market surged to new highs after the U.S. manufacturing sector contracted for the eighth month in a row in June. The Institute for Supply Management (ISM) manufacturing index dropped to 46%, below the expected 47.2%. This index measures economic growth, with readings above 50% indicating growth. In April, there was a sixth consecutive contraction. As a...
Gold prices ended this week at $1,910, a $17 decrease from the beginning of the week. In June, gold experienced a sharp decline, with spot gold dropping $42.6 and future gold dropping $52.7, marking the worst month since Q3 of last year. Despite briefly dipping below $1,900 this week, gold managed to hold onto this important psychological level and prevent...
Gold prices have been declining recently due to the possibility of interest rate hikes by the Federal Reserve. The upcoming meeting of the Federal Open Market Committee (FOMC) on July 26 is eagerly awaited by market participants for the central bank's decision. The latest minutes from the previous FOMC meeting showed increasing sentiment among Federal Reserve...
Now, the focus is entirely on the minutes of the Fed's June meeting, for any further signals on the direction of US interest rates. This trend indicates that gold will come under more pressure in the coming months, although expectations of a potential recession in the US have also boosted some safe-haven demand for the yellow metal. Gold is waiting for a break...
The current stance of central banks favoring tighter monetary policies is expected to hinder the rise of gold prices. Additionally, the likelihood of a 25 basis points rate hike at the upcoming FOMC meeting, coupled with a more aggressive approach taken by major central banks, is likely to continue exerting pressure on the non-yielding gold price. Furthermore, the...
The Gold price is being affected by a slight increase in the US Dollar. After experiencing significant losses on Friday, the US Dollar is attracting some buyers and recovering. This is seen as a key factor that is putting pressure on the price of Gold. Recent data from the United States shows that the Personal Consumption Expenditures (PCE) Price Index decreased...
Gold prices stood at $1,927, increasing by $6 compared to the previous week's closing. The precious metal experienced its strongest percentage decline in four months. Gold is facing downward pressure due to a stronger USD and the cautious stance of US Federal Reserve officials, with no signs of recovery yet. Kitco's gold survey this week shows a decrease in...
The global gold price is currently at $1,924, a decrease of $2 compared to the same time yesterday. The gold market is being hindered by recent positive monetary policies from central banks. Gold is expected to end June with a decrease of around $47, marking the worst month since February. The precious metal is reacting to the continued hawkish rhetoric from...
World gold price stood at $1,905, down $10 from the same hour last morning. Gold price is still finding the bottom of 3.5 months. Gold prices are heading for the second consecutive month of decline. The safe-haven role of precious metals has become blurred due to the resilience of the US economy. Even the complicated situation in Russia cannot support gold...
Gold prices slightly decreased during Thursday's midday trading session but remained higher than the daily low. The metal reached its lowest point in 3.5 months overnight. Positive economic data from the US, including higher US dollar index and increased US Treasury bond yields, have put pressure on gold. The August gold contract dropped $4.8 to $1,917. Final US...
The world gold price stood at $1,915, down $12 compared to the same hour last morning. Rising bond yields have put downward pressure on gold. This morning, the yield on the US 10 Treasury note rose to 3.83%, increasing the opportunity cost of holding non-yielding assets like gold. Experts forecast gold has a risk of falling to $ 1,900 / ounce in the short term...
Gold price prediction: XAU/USD is facing difficulties near its lowest point in several months and appears to be at risk of further decline. The price of Gold is being negatively influenced by central banks taking a more aggressive stance. Major central banks, including the European Central Bank (ECB) and the Bank of England (BoE), have indicated the possibility...
Bullish Cypher Gold Cmp - 58940 Buy PRZ - 59039/58921 SL - 58400 Target - 60000/60400
Investors will be closely watching speeches by top central bank officials this week, including ECB President Christine Lagarde, BoE Governor Andrew Bailey, Fed Chair Jerome Powell, and Bank of Japan Governor Kazuo Ueda. These speeches will be given at a panel discussion in Sintra on Wednesday. Additionally, Tuesday's US economic releases, such as Durable Goods...
Gold price struggles to make any significant progress on Tuesday and trades within a narrow range, just above the $1,920 level during the Asian session. The XAU/USD pair remains close to a three-month low reached last Friday and could potentially drop below the 100-day Simple Moving Average (SMA). The upside for Gold price is limited by the hawkish stance of...
31k is our next target Looking at the big daily candles , it's a very very strong momentum. Which should break above the swing high. But bair in mind ,We also in weekly supply zone. Which is a strong resistance zone. As we can see the increased volume,hope it sustain the momentum. Again don't fall in any trades untill BTC becoms stable. Btc Dominance is high,...
Gold prices hit a three-month low in midday trading on Thursday in the US. Central banks are still focused on their monetary policies this weekend. This trend of falling prices is due to both reduced demand and the increasing attractiveness of government bonds as bond yields rise. In the end, gold for August dropped by $19 to $1,925. The central bank of Norway...
The red flags have been mounting in gold for a few weeks now - and likely to no surprise to regular readers, my opinion continues to reflect caution; today, more so than over the last month. The below daily chart shows the rejection at the prior upward trendline proving itself stiff. The $1930 spot is once again broken to the downside, and daily momentum looks on...