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Pressure is increasingly weighing on gold pricesXAU/USD ended Wednesday's trading session at its lowest price in three weeks, hitting a new low of $1,905 as the inflationary backdrop in the US continued to frustrate gold investors. Gold continues to be rejected from $1,940.00 after last week's action saw the yellow metal fall back as US Treasury yields and the US Dollar (USD) continued to trouble scarf on the Gold chart. The precious metal has broken away from yearly highs above $2,060.00. The US consumer price index (CPI) rose 0.6% in August, up sharply from 0.2% the previous month, and inflation concerns weighed on XAU/USD. Annual CPI increased 3.7% compared to market estimates of 3.6%. Rising inflation in the US is causing the market to reassess the possibility that the Federal Reserve (Fed) will raise interest rates further, although the Fed seeks to keep interest rates stable at its interest rate meeting next week.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold prices continue to be under downward pressureThe world gold price stood at $1,919, down $6 from the same hour last morning. Precious metals are experiencing a brief technical sell-off amid a lack of supportive information. In addition, the USD and bond yields continued to increase, putting pressure on gold. In the short term, gold continues to be under downward pressure. Even so, gold has strong support at the 200-day moving average, around $1,920. At the end of the year or early next year, the selling pressure on precious metals will decrease. The USD is expected to weaken following signals of the Fed's gradual loosening of monetary policy. Besides, the gold consumption season at the end of the year can also support this commodity more actively.
OANDA:XAUUSD
by Rancy-SuperTrend
The gold market is under technical selling pressureWorld gold prices this morning increased slightly in the context of the market waiting for further data from the US economy to guide prices. It is expected that the August Consumer Price Index Report will be published on September 13. The gold market is under technical selling pressure due to a lack of price increase motivation. Recent negative information about China's economic situation has put significant pressure on the gold market due to concerns about falling demand for precious metals in the country of billions of people.
TVC:GOLD
by Rancy-SuperTrend
Gold is trying to recoverGold prices traded around $1,920 per troy ounce in the first hours of trading during Monday's Asian session. The precious metal managed to hold on to its previous weekly close, receiving some support from the weakening US Dollar (USD). The US Dollar Index (DXY), which measures the Greenback's performance against six major currencies, is currently trading around 104.80, slightly below its peak since April. However, US Treasury bond yields are rising, which could put pressure on the yellow metal's price. The yield on the 10-year US Treasury note increased to 4.29%, up 0.52%.
TVC:GOLD
by Rancy-SuperTrend
Gold is waiting to accumulateGold yesterday opened the weekly trading session with an upward trend from 1916 to 1930 when the USD experienced declines and corrections after the Bank of Japan's move caused the market to increase expectations for the future. The Yen negative interest rate period will soon end. The US Dollar Index (DXY) fell to around 104.60, trying to offset losses thanks to positive developments in United States (US) bond yields. The US 10-year Treasury yield rose to 4.30% at the time of writing. Strong economic data in August put pressure on gold prices. Although the labor market has shown weakness over the past few weeks, it recently experienced a pullback with two strong reports including the ISM Services PMI and Initial Jobless Claims, both all exceeded market expectations. As long as data continues to show a mixed outlook, market participants can expect prices to stabilize
OANDA:XAUUSD
by Rancy-SuperTrend
NIFTY MIDCAP SELECTHello and welcome to this analysis The index has formed a Bearish Harmonic Deep Crab in the weekly time frame. It is currently in the PRZ zone of 9050-9400. As of now its not showing any sign of weakness. If it starts sustaining below 9050 the bearish structure would get activated for 8600/8250. There is resistance between 9200-9250. One should wait for confirmation of weakness then look to exit longs and/or fresh shorts. Fresh aggressive trading inside the PRZ should be avoided either side. All the best
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by Dinesh_C_Nagpal
1
Still no breakthrough in the new weekGold prices attracted renewed buying pressure on the first day of a new week and continued to rally above $1,945 during the Asian session. . The mixed monthly jobs report from the United States (US) on Friday ensures that the Federal Reserve (Fed) will keep interest rates unchanged at its September policy meeting, so this is considered is beneficial for Gold prices, but not favorable. In fact, NFP headlines show the US economy added 187,000 jobs in August, well above market expectations. However, last month's figure was revised down from 187K to 157K. In addition, the unemployment rate increased to 3.8% from 3.5% in July and Average Hourly Earnings decreased to 4.3% YoY from 4.4%. The data showed that the labor market slowed slightly and left the Fed with less room to continue raising rates.
OANDA:XAUUSD
by Rancy-SuperTrend
Forecast for Non-FarmGold prices attracted new sellers after the Asian session jumped to the $1,944 region on Friday and hit a new daily low in the past hour, albeit to no avail. XAU/USD is currently trading just below $1,940, virtually unchanged today, as traders patiently await closely watched monthly jobs details from the United States (US) ahead when betting in new directions. The widely known Nonfarm Payrolls (NFP) report will be released during the first North American session and will influence expectations about the Federal Reserve's (Fed) next policy move. . This, in turn, will determine the short-term volatility of the US Dollar (USD) and provide a meaningful boost to Gold prices. Meanwhile, uncertainty over the Fed's future path to rate hikes did not aid the USD in capitalizing on the overnight recovery from a two-week low and acted as a drag on commodities. Goods are priced in US dollars.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold will regain balanceGold prices traded with a negative bias for the second consecutive day on Tuesday, although lacking continuation and remaining within the familiar range maintained over the past week or so. XAU/USD is currently placed just below $1,940, down less than 0.10% on the day and pressured by a combination of factors. Despite signs that labor market conditions in the United States (US) are easing, the Federal Reserve (Fed) is expected to keep interest rates higher for longer. Furthermore, markets are still pricing in the possibility of another 25 basis points (bps) hike later this year. This, in turn, remains supportive of rising US Treasury yields, providing some support to the US Dollar (USD) and weakening non-yielding Gold prices.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold is still compressed waiting for NFGold prices extended their recovery for the third consecutive session and touched $1,950 on Wednesday. This daily increase is due to increased open interest and it suggests that additional profits will emerge in the near future. However, the next important target for the precious metal is the high of USD/troy ounce in July 1987 (July 20). Our Technical Confluence Indicator is signaling that Gold Price is breaking out of the confluence of the $1935–36 support, indicating the next uptrend to watch. However, the key supports mentioned include Pivot Point S1 for one day and Fibonacci 61.8% for one month.
OANDA:XAUUSD
by Rancy-SuperTrend
GOLD : ADP jobs report reveals an economic slowdownThe range in gold futures on Wednesday, Thursday, and Friday of last week was tepid with a defined intraday high on all three days at approximately $1950 to $1955. Yesterday's report which revealed a softening of job openings resulted in a surge in moving gold of approximately $20, today gold had a fractional gain when compared to yesterday of approximately $5.00. The ADP's monthly report is released on Wednesdays, 2 days before the release of the government's nonfarm payroll report. These two reports will occur before and after tomorrow's PCE index report. Today's jobs report came in well under expectations and much softer than the previous month of July. The July ADP report for June was revised upward recently, revealing that 371,000 new jobs were added.
TVC:GOLD
by Acetal-dehyde-fx
XAUUSD : PCE index reveals Inflation remains persistent at 4.2%According to the report the core PCE price index (excluding food and energy) rose from 4.1% to 4.2% annually. Although prices continue to rise American consumers increased their spending by 0.8% in July although personal income only gained 0.2%. The core PCE rose 0.2% month over month and weekly jobless claims fell to 228,000 down 4000. Today the Labor Department will release the jobs report for last month. This report will also have a large impact on the financial markets including gold and silver. Current estimates are that the report will show that an additional 170,000 jobs will be added to payrolls next month and that the unemployment rate will hold steady at 3.5%.
OANDA:XAUUSD
by Acetal-dehyde-fx
XAUUSD : Precious metals continue to increaseGold prices continue to increase today as newly released data shows that the labor market is showing signs of cooling and the US economy is slowing down. Specifically, the report on gross domestic product in the second quarter of the US Bureau of Economic Analysis showed that the economy grew by 2.1%, lower than expected. Analysts are now closely watching the labor market as it can determine when the US central bank stops raising interest rates. The Fed has said it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
OANDA:XAUUSD
by Acetal-dehyde-fx
Tonight's ADP PredictionGold (XAU/USD) lacks bullish momentum at three-week highs, hovering in the $1,937-38 range by year-end, as traders look for more clues to confirm the dovish trend of gold. The United States Federal Reserve (Fed) globally. Upbeat US data earlier in the day. Also challenging XAU/USD gains are mixed concerns about US-China relations and sluggish US Treasury yields. The cautious mood ahead of US ADP Employment Change, Second-quarter Gross Domestic Product (Q2) and US Personal Consumption Spending (PCE) appear to have boosted the outlook, boosting the outlook. Gold buyers to many highs. Disappointing US jobs, employment and housing previously raised concerns about the Fed's policy axis, especially after Fed President Jerome de Jerome de pressured the turmoil of the Fed. mambela data
OANDA:XAUUSD
by Rancy-SuperTrend
GOLD → Rather superficial reaction to the Fed Chairman's speechThis morning, the price of gold decreased due to a speech by Jerome Powell, the Chairman of the Federal Reserve (Fed), at the annual banking conference. Powell announced that the Fed will continue its tight monetary policy until inflation reaches 2%. This is understandable as the US Consumer Price Index (CPI) has increased from 3% in June to 3.2% in July. Despite stable employment market conditions, this justifies the Fed's decision to tighten monetary policy. It is expected that during the November meeting, the Fed will raise the basic USD interest rate by 0.25% to continue combating inflation. This information has led to a strong increase in USD and a decrease in gold prices on the international payment basket.
TVC:GOLD
by Rancy-SuperTrend
Waiting for new developmentsGold (XAU/USD) prices defended the previous weekly recovery, for the first time in five weeks, as it rallied for the second day in a row amid broad-based US Dollar weakness. Also, the strength for the XAU/USD rally is cautious optimism in the market, as well as falling Treasury yields. It is worth noting that the US Dollar Index (DXY) encourages reliance on Fed policymakers' data and the recent mixed US data, as well as the continued decline in interest rates. US Treasury yields from multi-year highs marked last week.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold is still around 1920Gold prices traded near $1,915 per troy ounce during the Asian session on Monday, extending last week's gains. The recent drop in the US Treasury bond yields (US) helped push the yellow metal to recover. Additionally, moderate US economic data released last week along with mixed statements from major central bank officials at the Jackson Hole Symposium, underpinned Gold prices. With that said, U.S. Durable Goods Orders in July fell 5.2% from the market consensus of 4%, ranging from 4.4% in June. However, Initial Jobless Claims showed favorable employment conditions, raising concerns about the US inflation scenario. For the week ending Aug. 18, the index fell to 230K from 240K previously, which is expected to remain steady.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold prediction for the new weekGold (XAU/USD) is marking an unimpressive start to the week trading around $1,890, after having fallen for the past four weeks in a row. With that said, Gold prices are filling the gap at their lowest levels since March while struggling to gain traction amid the market's cautious mood ahead of this week's top data/events. However, a stronger US Dollar will put downward pressure on XAU/USD even if technical analysis signals a corrective rally. The US Dollar Index (DXY) has been rising for the past five weeks in a row and is affecting the Gold Price.
OANDA:XAUUSD
by Rancy-SuperTrend
Gold is recovering slightlyGold prices edged up slightly higher and attempted to continue their gains on Tuesday. XAU/USD hovers around $1,900/troy ounce during the Asian session on Wednesday, having found signs of recovery after 4 consecutive weeks of default losses despite a firmer US Dollar (USD). However, growing risk aversion and concerns about the Chinese economy are weighing on Gold prices. These factors can impact the total action value. The US Dollar Index (DXY), which measures the greenback's performance, therefore, for the six major currencies, picked up resilience on Tuesday and ended the day with gains. At the time of writing, DXY is hovering around the 103.50 level. Falling US Treasury yields and falling US home sales could put the greenback under pressure.
OANDA:XAUUSD
by Rancy-SuperTrend
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