Gold prices (XAU/USD) attracted some selling at around $1,902 in early European trading on Wednesday. Precious metals face selling pressure as the US Dollar (USD) strengthens ahead of highly anticipated inflation data on Friday. Meanwhile, the US Dollar Index (DXY), a measure of the USD's value against a basket of foreign currencies, rose above 106.20, its highest...
Gold had an uncontrolled downward trend one day when the gold discharge fund made a sudden move to discharge nearly 4 tons of gold. Although all the news is good for gold, it is still not enough for gold to level off. Let's take a look at some news that will affect gold prices right here: Spot gold fell close to the $1,900 mark on Tuesday before recovering...
Gold prices (XAU/USD) fell vertically to near $1,915.00 as uncertainty over the Federal Reserve's (Fed) interest rate outlook deepened. The precious metal's upside remains limited as Fed policymakers continue to maintain a hawkish stance for upcoming monetary policy meetings. "It feels like interest rates will have to stay high for longer than the market expects,"...
Gold prices hovered above $1,920 during Monday's Asian trading session. Prices for the yellow metal ended a losing streak on Friday as the US Dollar (USD) pared the day's gains, most likely due to falling US government bond yields. However, US bond yields have recovered, with the 10-year US Treasury yield rising to 4.45%, up 0.50% at the time of...
Gold prices (XAU/USD) recovered recent losses after falling to a weekly low of $1,913 in early Asian trade on Friday. At the time of writing, XAU/USD was up 0.08% on the day at $1,921.62. During a press conference Wednesday, Federal Reserve Chairman Jerome Powell reiterated the Fed's commitment to achieving 2% inflation. Powel added that the Fed is ready to raise...
Gold prices continued to lose money for the third straight day, trading around $1,925 lower in the early trading hours of Thursday's Asian session. As expected, the US Federal Reserve (Fed) maintained its current benchmark policy rate at 5.5% during its meeting on Wednesday. Precious metal prices are facing downward pressure as the Fed is expected to raise...
Gold prices (XAU/USD) stabilized around $1,930 during Asian trading hours on Wednesday. Market participants prefer to wait on the sidelines before the Federal Reserve's (Fed) Interest Rate Decision and FOMC Press Conference. These events can cause volatility in the market Meanwhile, a gauge of the US dollar's value against six major currencies remained unchanged...
It would be wise to wait for the next strong buying wave before placing new bets on the rise of XAU/USD. Market participants are currently anticipating the release of PMI flash prints, which will provide a fresh insight into the global economy's health. Conversely, this will impact market risk sentiment, leading to increased demand for traditional safe-haven...
Gold remains pressured around $1,925 on Fed's hawkish stance The price of gold continues to decline for the third day in a row, hovering around $1,925 during Asian trading hours on Thursday. As anticipated, the Federal Reserve (Fed) of the United States decided to keep the current benchmark policy rates unchanged at 5.5% during their meeting on Wednesday. ...
This narrative has helped US Treasury bond yields regain their upbeat momentum, with the benchmark 10-year Treasury yield sitting at the 16-yeat high of 4.3720%. The US Treasury bond yield rally could resume its uptrend on a hawkish Fed rate hike, extending the pullback in Gold price toward the $1,900 level. Conversely, Gold price could see a fresh upside toward...
XAU/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 prices extended the previous day's healthy recovery from $1,900 or above three-week lows and gained stronger traction for the second straight day on Friday. Momentum lifted XAU/USD to three-day highs around the $1,915-$1,916 region during the Asian session, although a meaningful upside move still seems unlikely. The US Dollar (USD) has pulled back from its...
Gold prices ended five straight days of decline, trading higher at around $1,920, up 0.20% in Thursday's Asian session. However, precious metals are facing downward pressure as traders consider the possibility that the US Federal Reserve (Fed) will increase interest rates by 25 basis points (bps) until the end of 2023. . Hawkish sentiment surrounding the Fed's...
Gold 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...
Gold 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...
Gold prices tried to make up for the previous day's losses, trading around $1,910 per troy ounce higher in the early trading hours of Wednesday's Asian session. This currency pair is trending up due to the decrease in the value of the US Dollar (USD). However, gold prices face challenges as the market is cautious ahead of the release of US inflation data,...
🍀Gold price trades higher around $1,930 a troy ounce, rebounding from the losses registered in the previous week. The pullback in the USD is providing support in strengthening the prices of Gold, which could be attributed to the lower likelihood of the US Fed keeping interest rates unchanged in the upcoming September. 🍀Gold price increased in today's Asian and...
US Dollar Index continues to recover while gold comes under some fundamental pressure holding back the upside as core US Personal Consumer Expenditure (PCE) Price Index (PCE) data for August improved a bit. little. The US Nonfarm Payrolls (NFP) report, due out today, is expected to bring huge volatility across the market as it will shape the Fed's capabilities...