Gold prices are preparing for another important event - the US Federal Reserve's (Fed) day. The rising yields of US Treasury bonds are causing the US dollar to weaken, allowing gold prices to rise slightly. The US Bureau of Labor Statistics (BLS) reported on Tuesday that the US Consumer Price Index (CPI) increased by only 0.1% in the month, resulting in a sharp...
Gold prices continued to drop significantly this morning, with spot gold falling $13.4 to $1,943 and August futures trading at $1,956, down $14 from the previous day. This decline is due to reevaluation of rate expectations after the Fed's decision last week. The latest inflation report shows a mixed outlook for the US. While the CPI index has dropped to a low of...
Gold prices fell during the midday trading session in the US on Monday due to a strong US dollar index, a sharp drop in crude oil prices, and an increase in US Treasury bond yields. The market is relatively calm before the Federal Reserve's FOMC meeting, which will end on Wednesday with Chairman Powell's statement and press conference. Despite earlier...
Gold prices were lower during the midday trading session in the US on Monday. The trio of falling external markets - a stronger US dollar index, a sharp drop in crude oil prices, and an increase in US Treasury bond yields - are putting pressure on the precious metal today. The market is relatively calm ahead of the US central bank's monetary policy meeting and...
Gold prices on June 12 stood at $1,956, a slight decrease of $4 from the previous week's close. While market sentiment towards gold remains optimistic ahead of the Fed's monetary policy meeting, experts warn investors not to expect prices to exceed $2,000 this week. Due to market volatility, investors should wait for a strong breakthrough in gold prices before...
Gold has found strong short-term support between $1,932-$1,940 and has been testing it for the past two weeks. The current spot price of gold is at $1960 and is trying to break through the 20-day moving average, which has affected the precious metal in the previous month. The upcoming week's schedule will determine the short-term future of gold. Retail trader...
Gold prices rose due to a decrease in the USD, but investors remain cautious about the Fed's interest rate strategy and other economic signals. However, gold prices are still close to their lowest level of the previous session as investors wait for signals from the Fed before making investment decisions. The USD Index decreased by 0.2%, providing support for the...
Gold prices fell during Wednesday's midday trading in the US due to weak economic data from China, suggesting a global economic slowdown that could reduce demand for the precious metal. The increase in US Treasury bond yields also had a negative impact on safe-haven metals. China's exports have declined more than expected, falling 7.5% in May compared to the...
Gold prices were steady during midday trading on Tuesday in the US, with a slight increase of $5.10 to $1,979 per ounce due to some light safe-haven demand. The demand was caused by news of a dam and a large power plant explosion in Ukraine, which has raised concerns about crop and food damage. This situation is seen as a significant escalation in the...
Gold prices are currently at $1,965, a slight increase of $6 from yesterday. If the support level below $1,950 is broken, the precious metal may drop sharply to $1,880. Last month, gold dropped below $2,000 due to the relatively healthy economic sentiment that continues to support the Fed's positive monetary policy stance. However, in recent weeks, gold has held...
Gold price drops to retest its earlier low of $1,959 due to recent lack of catalysts and no statement from the Fed before the FOMC shutdown. The US big banks need to hold more capital to tackle the landing crisis, which is impacting the sentiment and Gold price. The rising geopolitical tensions between Russia and Ukraine and concerns about hostilities between...
Gold market rebounded strongly from the support level just above $1,950. August gold futures traded at $1,976, up 0.35% on the day. Gold saw new safe-haven demand when US service sector activity fell more than expected in May. Disappointing economic data may force the Fed to end interest rate hikes. The market sees over an 85% chance that the Fed will keep...