With the USD gathering strength during the American trading hours on Wednesday, XAU/USD extended its slide and lost nearly 5% in a two-day span to touch its lowest level in six weeks at $1,767 on Thursday. In its updated Summary of Economic Projections, the FOMC revealed that seven policymakers saw a lift-off in the fed […]
Negative-yielding securities in response to Fed’s quantitative easing turned out to be one of the major bullish catalysts for Bitcoin and other digital assets since March 2020. But with Fed throwing a curveball at the markets with its hawkish tones, mainstream investors have been turning to facilities that seem less risky than Bitcoin or gold […]
Update: Gold struggled to capitalize on its intraday positive move, instead met with some fresh supply in the vicinity of the $1,800 round-figure mark. Apart from this, a fresh leg down in the equity markets might further hold traders from placing any aggressive bearish bets around the safe-haven gold. Sustained weakness below the overnight swing […]
It should, however, be noted that the lackluster moves of the US Treasury yields and a light calendar, coupled with dead news feeds, probe the gold buyers. However, a lack of major catalysts and increasing odds favoring the US President Joe Biden’s infrastructure spending plan passage seem to recently trigger gold’s corrective pullback from the […]
On the other hand, Wall Street Journal came out with the news suggesting the progress in multi-billion dollars worth of spending by the Biden administrations. Against this backdrop, the US dollar index steps back from a two-month top but stays on the road to the highest weekly gains since September 2020, down 0.10% around 91.82 […]
Update: Gold witnessed another downswing during the early North American session and dropped to $1,775 region, or the lowest level since May 5 in the last hour. It is worth recalling that the Fed on Wednesday stunned investors and brought forward its projections for the first post-pandemic interest rate hikes into 2023. This comes on the […]
Rate hikes are coming – perhaps only in 2023, but that is ahead of the Federal Reserve’s previous projections of hiking borrowing costs only in 2024. Looking up, resistance awaits at $1,850. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot […]
The spot price came under selling pressure after Fed Chair Jerome Powell on Wednesday spoke about inflation, the Fed’s dot plot, and tapering plans. Gold actions. Although the US dollar’s sluggish move helps gold prices, strong Treasury yields keep gold buyers in check. Markets and instruments profiled on this page are for informational purposes only […]
Gold lacked any firm directional bias and remained confined in a narrow trading band through the first half of the European session on Wednesday. Adding to this, a subdued US dollar demand – amid a modest downtick in the US Treasury bond yields – further held traders from placing fresh bearish bets around the dollar-denominated […]
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 […]
Earlier in the day, gold prices dropped to $1,853 amid anxiety over how Fed Chairman Jerome Powell will deal with the reflation fears. The US dollar continues to hold the higher ground ahead of the all-important FOMC decision due later this Wednesday, which will be followed by Fed Chair Jerome Powell’s press conference. Members have […]
Despite the limited bullish potential, gold continues to draw support from a lack of clarity on the Fed’s next policy move, as the central bank’s two-day monetary policy meeting begins later this Tuesday. In the meantime, the key event risk for gold price remains the US Retail Sales data due later in the NA session […]
Update June 15: After dropping to its lowest level since mid-May at $1,844 on Monday, the XAU/USD pair staged a modest rebound during the American trading hours but ended up closing the day in the negative territory. Bill Diviney at ABN Amro further explained, ”at the same time, while Chair Powell might acknowledge that the Committee is […]
Bitcoin price breakout from the symmetrical triangle is a bullish development, as it frees the bellwether cryptocurrency to test the formidable resistance between $41,581 and $43,331, offering some encouragement for the broader cryptocurrency complex. Based on that, it seems that the 50% is attainable, but not soon, mainly when a lot of the mining is […]
The renewed USD strength on Friday forced gold to drop below $1,880 and post losses for the second straight week. 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 […]
Speculation that the FOMC could hint at the taper timing at its monetary policy decision this Wednesday, is allowing the dollar to hold onto its recent rally at the expense of gold. With gold’s ongoing sell-off, the path opens up for a test of the 200-Daily Moving Average , located at $1840 after the bulls […]
The move, however, was on the back of shrinking open interest and volume, indicative that a deeper pullback is not favoured 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 […]
For the FOMC event, caution should prevail and the dollar may ultimately lose some support in highly low volatility which tends to benefit the carry trade. 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 […]
Update: Gold continued with its struggle to find acceptance or build on the momentum beyond the $1,900 mark and witnessed some fresh selling on the last trading day of the week. The commodity dropped to fresh session lows, below the $1,885 level in the last hour and has now erased the previous day’s post-US CPI […]
Update: Gold price is in an upside consolidative phase just below the $1900 mark in Friday’s Asian trading, as the bulls take a breather before the next leg higher. Further, news that US bipartisan Senators agreed over President Joe Biden’s infrastructure spending plan also underpins gold. The upside US CPI print may trigger calls to […]