Update: Gold price is consolidating Monday’s negative momentum, trading below $1780 amid renewed US dollar demand, as risk-off mood prevails so far this Tuesday. For instance, Australia’s most populous city, Sydney, went into lockdown and Indonesia is also battling record-high cases. With that being said, last week’s news of optimism about a bipartisan US infrastructure agreement helped […]
The precious metal remained on the defensive through the mid-European session and was last seen hovering near the lower end of a one-week-old trading range, just above the $1,775 level. That said, a fresh leg down in the US Treasury bond yields, along with the prevalent cautious mood around the equity markets might help limit […]
Gold finished the week with small gains a little below $1,780 but failed to clear key resistance. “Ahead of the weekend, the US Bureau of Labor Statistics will release the June jobs report. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a […]
Against that, the yellow metal keeps targeting the key $1,800 mark per ounce troy in the very near term. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. If not otherwise explicitly mentioned in […]
Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned […]
At the time of writing, gold is trading on the bid in the open for the week, higher by 0.38% from the get-go at $1,781.64. The personal consumption expenditures price index, excluding the volatile food and energy components, increased 0.5%, below economists’ expectations of an 0.6% increase. At the time of writing, DXY is trading […]
Despite the rebound, gold’s upside appears capped around $1794 ahead of the US PCE Inflation data, which shed more light on the inflation picture and the Fed’s next policy move. Gold stays on the front foot, picks up bids to $1,780, as market players brace for Friday’s European session. While the pre-data cautious sentiment could […]
Despite a minor bid, gold price continues to trade within familiar levels amid mixed signals from the Fed on interest rate hikes and a slew of downbeat US economic data. Gold gained traction during the European trading hours on Thursday and advanced to a daily high of $1,788 before reversing its direction in the second […]
Gold price is clawing back earlier losses, as the US dollar remains on the defensive amid conflicting signals on inflation and Fed’s next monetary policy moves, especially after the policymakers from the world’s most powerful central bank delivered mixed messages. If you are a medium-to-long-term trader, this tool will allow you to know in advance […]
Update: Gold continued with its struggle to build on this week’s modest gains and has been oscillating in a range over the past three trading sessions. Separately, Atlanta Fed President Raphael Bostic and Fed Governor Michelle Bowman said that the high inflation in the US would last longer than expected, though agreed that the price increase […]
Gold price continues to face stiff resistance at the 100-Daily Moving Average at $1794 while daily technical setup continues to remain in favor of the bears. The broad-based selling pressure surrounding the greenback during the first half of the day on Wednesday allowed gold to extend its recovery. While testifying before the House Select Subcommittee […]
Gold price ignores the rebound in the US dollar across the board and draws support from the weakness in the Treasury yields, as Fed Chair Powell tempered the recent hawkish rhetoric and downplayed inflation worries. Not only the PMIs but Fedspeak and updates over covid, as well as US stimulus, will also be crucial to […]
In total, there were at least 178,811,880 cases of COVID-19 worldwide with more than 3,873,980 deaths, according to data compiled by Johns Hopkins University. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. FXStreet […]
The Fed’s sudden hawkish shift last week continued acting as a tailwind for the US dollar and turned out to be a key factor that weighed on dollar-denominated commodities, including gold. That said, the downside remains cushioned, at least for the time being, as investors now seem reluctant to place any aggressive bets ahead of […]
Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned […]
Cryptocurrency investment products have witnessed a third consecutive week of outflows totaling $79 million, marking the longest bear run recorded since February 2018. According to CoinShares, sentiment remains mixed as certain providers see inflows, while others continue to see outflows. Bitcoin price recently dipped below $33,000, wiping away 50% of its asset value from its […]
Open interest in gold futures markets extended the downtrend for yet another session and shrank by around 8.8K on Friday, considering preliminary readings from CME Group. That said, the $1,800 mark per ounce troy should emerge as the initial target of any bullish attempt. Markets and instruments profiled on this page are for informational purposes […]
Falling inflation expectations and uncertainty over the US infrastructure spending plans is weighing heavily on the returns on the markets, as investors re-think the Fed’s hawkish stance. Meanwhile, the screw was turned on Friday when St. Markets and instruments profiled on this page are for informational purposes only and should not in any way come […]
Bitcoin price is down by nearly 19% after rising to a high of $41,400 on June 15. As Bitcoin price broke below the middle Bollinger band on the daily chart, a downswing to the lower band at $33,400 seemed inevitable. The TD Sequential indicator is currently on a red nine candlestick, which is considered a bullish formation. […]
Bitcoin price has declined to the symmetrical triangle’s upper trend line after climbing 30% from the June 8 low, engaging the first support for the new rally attempt. The result was a quick breakdown from the triangle and a double-digit decline, with Stellar now on the cusp of testing the May 23 low. Markets and […]