Gold traders prepare for the end of two-week-long choppy moves between 200-DMA and an ascending trend line from early October with eyes on the US Federal Reserve (Fed) decision. With the faster tapering and a hint to rate hike in 2022 expected, bears are hopeful. However, Omicron fears are up for throwing a wild card and can fuel the precious metal prices should...
Risk-on mood helps gold extend the early-week rebound towards the key upside resistance area during early Wednesday. In addition to the confluence of 200-EMA, a descending trend line from September 03 and a five-week-old support line, fears of the Fed’s tapering also challenge gold buyers. Should the Fed refrains from providing any signals to the 2021 taper,...
Early Tuesday, the Reserve Bank of Australia (RBA) surprises markets by announcing details of weekly bond purchase tapering. The traders were earlier hoping for a delay in the tapering plans and hence the AUDUSD jumped around 30 pips just after the RBA news. However, downbeat comments concerning the Aussie GDP and cautious economic view recall the pair sellers,...
