XAU prices saw a sharp sell-off following the release of positive US macroeconomic data, plunging to a more than two-week low on Thursday. The preliminary estimate of the US Gross Domestic Product (GDP) showed the US economy growing at a faster-than-expected pace and inflation falling in the second quarter of 2024. This suggests that the US economy is still...
The fluctuations after the discharge of the initial PMI document had been now no longer too significant. Besides, earlier than the outlet of the 5-yr US authorities bond auction, gold expenses accelerated barely as yields decreased. But quickly after, the 10-yr authorities bond yield accelerated 2 bps to 4,274%, placing strain on gold expenses. Although the USD...
XAU the world plummeted without stopping Gold prices continued to fall without stopping, reaching a low of 2,370 USD/ounce at the beginning of the Asian session on Thursday morning. Thereby, world gold recorded a decrease of nearly 5% from the peak of 2,483 USD, or about 113 USD/ounce in just 7 trading sessions. Last night, the fluctuations after the release of...
USDMXN has broken the major downtrend line with some strength and appears to be making a corrective move at the moment. (possible retest) Now we have to wait how it will react at the Fibonaci levels that converge with the retest of the bearish trendline and with our daily SMMA (Red line), if there is a bullish rejection pattern it could be a good place to open a...
Gold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House. The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics. The...
The XAU price fell to its lowest in more than a week today as traders await more US economic data and comments from US Federal Reserve (FED) officials this week for further action. more clarity on the timeline for interest rate cuts. Markets see a more than 90% chance the Fed will cut interest rates in September, down from a previous forecast of 98%. Senior...
While the current rally became pushed with the aid of using bodily factors, strategists say cash flows will gas the following rally. They notice that this modification is beginning to appear, predicting that gold fees may want to attain 2,650 USD/ounce with the aid of using the fourth region of 2024. | The XAU fee fell to its lowest in extra than every week...
A combination of factors dragged gold prices to their lowest in more than a week on Monday. Bets that the Fed will cut interest rates in September provided some support and helped limit losses. #US Q2 GDP on Thursday and US PCE data on Friday will be eyed for fresh momentum.
World gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal...
XAUUSD charge dropped sharply on the quit of remaining week, however that is the adjustment length of the H1 and H4 frames, long-time period gold remains in an uptrend. Price regions to be aware of subsequent week are the resistance place 2408 - 2410 and the help place 2356 - 2360.
AUD/USD pair has formed a head and shoulders pattern on the 4-hour timeframe, indicating a potential trend reversal. A short entry will be executed upon a retest of the neckline on the lower timeframe. The first target is set at a 1:2 risk-reward ratio, and the second target is at the 4-hour demand level. Who else is watching AUD/USD?
As mentioned to readers in yesterday`s edition, gold has suffered a downward correction after the Relative Strength Index operated withinside the overbought area, indicating that the room for rate will increase is now no longer too great. big and require modifications after a protracted length of rate will increase. Currently, gold is likewise working pretty low...
Gold prices have dropped more than 1.5% from the peak of 2,483 USD/ounce. US unemployment claims exceeded forecasts, showing the economy is slowing and strengthening the case for interest rate cuts. DXY index increased 0.43% to 104.18; 10-year US government bond yield increased 2.5 bps to 4,187%. In the context of extremely increased expectations of interest rate...
Interest rate expectations: Investors expect the FOMC will start cutting interest rates from September onwards. Geopolitical instability: Ongoing conflicts in Ukraine and the Middle East continue to destabilize markets, causing investors to seek haven assets such as gold. Central banks diversify reserves: Central banks are proactively increasing the amount of gold...
XAU stays near historic peak, domestic gold skyrockets after more than 2 months of "immobility" World gold prices continue to climb and are at a historic peak due to the further weakening of the USD. According to the CME FedWatch tool, the market is betting on a 100% chance that the US Federal Reserve will cut interest rates on September 18. Earlier this week,...
The blue highlighted area around the 0.67253-0.67288 level represents a strong support zone. The price has tested this area multiple times and shown a tendency to bounce back from it. The current price is around 0.67288-0.67276, which is near the support zone. The resistance level is marked around 0.67547, indicating a potential target for the bullish...
XAU price increased quite strongly to near historical peak after the instability taking place in the world World gold continues to increase and moves towards the historic peak of 2,450 USD/ounce recorded on May 20 after the US announced that total retail sales remained unchanged in June. In May, revised figures showed total retail sales increased 0.3%. In fact,...
Gold is assessed to benefit in the context of increased risks after the incident of former US President Donald Trump being suspected of shooting during an election campaign in Butler, Pennsylvania on July 13. If Mr. Trump wins the election next November, the USD may weaken, thereby also pushing up gold prices. Macroeconomic data that is no longer bright is the...