RASteven

RASteven

Fundamental Descriptions: Gold was down on Wednesday morning in Asia as U.S. Treasury yields rose and the upcoming policy decision from the U.S. Federal Reserve dented demand for the yellow metal. The Fed is widely expected to announce a big interest rate hike in an effort to curb high inflation when it hands down its policy decision later in the day. The Federal...

RASteven

Fundamental Descriptions: Gold was up on Friday, as worrying U.S. GDP data drove some investors towards the safe-haven asset. However, the yellow metal is set for its biggest monthly drop since September 2021 as the U.S. Federal Reserve widely expected to aggressively hike interest rates. Month-end flows combined with profit-taking have triggered a sharp...

RASteven

Fundamental description: Gold Price is attempting a recovery from two-month lows of $1,872, heading back towards the $1,900 threshold. Investors resort to profit-taking in their US dollar long positions following the latest upsurge while progressing towards critical America’s Q1 preliminary GDP release. The world’s largest economy is likely to see a dramatic...

RASteven

Fundamental Description: Fundamental remains almost same for the gold during past 20 hours. As we can observe from the movement of gold that it is trading in the range of $1896-$1907. ECB president Lagarde speech is due for today. Meanwhile, Russia halted gas supplies to Poland and Bulgaria until payment are made in Rubles. Headlines from Russia provided some...

RASteven

Fundamental Description: We have seen bearish reversal for the gold (XAU/USD) during past few trading sessions. Gold is now vulnerable to rising Covid-19 cases in China and hawkish stance from federal reserve. As of writing, it is trading slightly above 1900 marks. It is still to be seen how it performs during the last few sessions of the month. The war in...