RASteven

RASteven

Fundamental Descriptions: A strengthening dollar and rising U.S. Treasury yields impacted demand for the U.S. currency-priced yellow metal, which is set for a second consecutive monthly loss for the first time since March 2021. Gold prices will be influenced by the direction of U.S. Treasury yields and the U.S. Dollar. Higher yields lower the appeal of...

RASteven

Fundamental Description: Gold was up on Monday morning in Asia. A weaker dollar gave the yellow metal a boost, but a move towards riskier assets in Asia capped gains. Gold Price ended Friday with mild gains above $1,850 while having booked the second straight weekly gains, as the US dollar correction extended alongside the US Treasury yields’ amid subsiding...

RASteven

Fundamental Descriptions: Gold was up on Friday morning in Asia and was set for a second weekly gain after the dollar retreated from 20-year highs. Gold has benefited from a strong bearish reversal in the dollar. On May 13 the dollar index hit an apex trading to a high just above 105. In the last nine trading days, the dollar has declined to its current value of...

RASteven

Fundamental Description: Gold was up on Thursday morning in Asia, while U.S. Treasury yields gained. Gold’s response has been quite disappointing, with the FOMC minutes also boosting risk sentiment. Gold cut some dollar strength-driven losses after Wednesday’s Fed minutes suggested the central bank would raise interest rates by 50 basis points in June and July...

RASteven

Fundamental Descriptions: Gold was down on Wednesday morning , with inflation's uncertain path giving the yellow metal a uncertainity. The buying momentum around Gold Price extended on Tuesday, as bulls cinched fresh two-week highs at $1870. The US dollar tumbled alongside the yields, extending its downward correction despite a cautious market mood, led by a tech...

RASteven

Fundamental Descriptions: Gold was up on Tuesday morning in Asia. The dollar was up, stabilizing after its fall during the previous session that helped boost the yellow metal to its highest point in two weeks. The bright metal took advantage of the dollar sell-off and built on the previous week’s recovery rally from four-month lows of $1787. However, the risk-on...

RASteven

Fundamental Descriptions: Gold was up on Monday morning in Asia, hitting a more than one-week high. A weakening dollar continued to support the greenback-priced yellow metal, even as rising U.S. Treasury yields capped gains. On Friday, particularly, a flight to safety theme remained in play, which boosted the demand for safe havens such as the dollar and the US...

RASteven

Fundamental Descriptions: Gold was down on Friday morning in Asia but set for its first weekly gain since mid-April 2022. The dollar retreated from two-decade highs and growing concerns over U.S. economic growth saw investors turn to the safe-haven asset. Gold Price extended the previous rebound and stormed through the critical 200-Daily Moving Average (DMA), now...

RASteven

Fundamental Descriptions: Gold was down on Thursday morning in Asia, with a steady dollar and elevated Treasury yields weighing on the greenback-priced bullion, whose outlook has already been dampened by the U.S. Federal Reserve’s aggressive stance on inflation. Global growth fears resurfaced and triggered a flight to safety theme across the board, reviving the...

RASteven

Fundamental Descriptions: Gold was down on Wednesday morning in Asia, with the dollar continuing its retreat from a 20-year high and countering pressure from stronger Treasury yields. Gold drops for the second consecutive day, taking offers around 1808 to refresh the intraday low heading into Wednesday’s European session, as sour sentiment joins the firmer US...

RASteven

Fundamental Descriptions: Gold was up on Tuesday morning in Asia, even as the dollar slowly resumed an upward trend. A sustained move under 1830 will signal the return of sellers. If this creates enough downside momentum then look for a retest of the intraday low at 1785, followed by 1783.80 mark. Technical View: Attempted recovery move stalled just ahead of the...

RASteven

Fundamental Descriptions: Gold was down on Monday morning in Asia, climbing up from a more than three-month low hit in the previous session. Lower U.S. Treasury yields kept demand for gold afloat above the $1,800 mark. Marking its fourth consecutive weekly decline, the yellow metal fell more than 1% on Friday to its lowest level since Feb. 4 at 1798.86, before...

RASteven

Fundamental Descriptions: Gold was down on Thursday morning. Investors are digesting the U.S. consumer price index (CPI), which suggested inflation remains high but has peaked in April, easing some concerns about more aggressive interest rate hikes from the Federal Reserve. Looking ahead, Gold Price will continue to remain at the mercy of the US dollar price...

RASteven

Fundamental Description: Gold was down during early hours in Asia, hitting its lowest level since February 11, as investors eyed the rising dollar and inflation data. " I know that families all across America are hurting because of inflation,” U.S. President Joe Biden said in a speech a day before the release of Consumer Price Index (CPI) data. Technical View:...

RASteven

Fundamental Descriptions: Gold was up on Tuesday over the weakening dollar. Investors now await inflation data. The precious metal has become more precious as a rebound in the positive market sentiment has trimmed the US dollar index safe-haven appeal. Worries over the impact of the Chinese covid curbs on the world’s no. 2 economy aggravated after the country...

RASteven

Fundamental Descriptions: Gold portrays the risk-aversion wave during early Monday morning in Europe as it drops below the short-term key support, now resistance around $1,875. Market sentiment sours as China’s covid conditions, G7 sanctions on Russia join fears of Fed’s faster rate hikes. Despite Friday’s rebound, the path of least resistance for Gold Price...

RASteven

Fundamental Descriptions: Gold Price has regained some strength as responsive buying kicks in after the precious metal tumbled to near $1,866.15 in the Asian session. Gold is likely to trade lackluster in the European shift as investors are on the sidelines ahead of the release of the NFP. The Fed on Wednesday hiked its interest rate to 1%, and the Bank of England...

RASteven

Fundamental Descriptions: Gold Price is capitalizing on an overdue correction in the US dollar, as the Fed poured cold water on aggressive tightening bets. Fed Chair Jerome Powell explicitly said Wednesday that the US central bank is not considering a 75 bps rate hike in June, sounding a less hawkish tone than markets had expected. Powell also appealed to...