🔸The daily technical setup for Gold prices suggests that a recovery could be imminent before the new downtrend resumes. The 14-day Relative Strength Index (RSI) indicator is deep in oversold territory, warranting caution for Gold sellers. 🔸Failure to find acceptance above the $1,850 barrier could consolidate selling interest around Gold prices. Immediate support...
🔸According to the 4-hour chart, XAU/USD is oversold, however technical indicators continue to be almost vertical and near the intraday low, suggesting selling pressure remains quite strong. 🔸The supportive factor, to a greater extent, is offset by solid expectations that the Federal Reserve (Fed) will maintain its hawkish stance and continue to tighten its...
🔸 Yesterday, the gold price touched 1900 and in the past, the price had reacted very strongly in this area. 🔸 OANDA:XAUUSD is hitting its downside target as selling momentum dries up. 🔸 On the one-hour chart, gold prices hold below the Moving Averages (EMA) of 34 and 89. 🔸 Meanwhile, the Relative Strength Index (RSI) is in the bearish zone below 50,...
🔸The 10-year US Treasury yield regained traction and rose to 4.6%, sending OANDA:XAUUSD lower. 🔸USD hit a new 10-month high and continued to receive support from the longer-term Fed story, combined with the Fund's net selling of Gold, causing The consequences are more serious for Gold. 🔷The price range of 1900$ - 1903$ is quite nice to set up a Sell...
OANDA:XAUUSD The US economy remains resilient allowing the Fed to continue raising interest rates. XAU/USD is down for a second day in a row, though it managed to bounce off the aforementioned lows and trade around $1,190. Technical indicators exhibit moderate to bearish slopes in negative levels, maintaining downside risk. In the short term, the bears have...
OANDA:XAUUSD With the authorities' uneasy mood, the more hawkish the Fed is, the more opportunities there are for the US Dollar to rise. In general, the risk is tilted to the downside, the downside will be stronger when Gold slides below the $1890 price zone. Technical indicators continue to lose bullish strength in positive levels, currently approaching their...
OANDA:XAUUSD Against the backdrop of market weakness on July 4, the USD managed to find a foothold on the back of growing recession fears, as the Fed is likely to continue on its path of rate hikes to contain inflationary. According to the latest ISM data released on Monday, the impact of the Fed tightening is worsening US business conditions, as the country's...
OANDA:XAUUSD Gold lacks bullish momentum after four consecutive days of gains, hovering around the $1925 price zone. XAU/USD takes cues from the latest challenges to sentiment stemming from worries about the US-China trade war, as well as concerns surrounding a global recession. In the short term, XAU/USD is still likely to recover its bullish...
OANDA:XAUUSD Gold remains around $1,920, trying to extend the previous day's rally after falling for the past three weeks. Gold prices met fresh supply at the end of the week and extended the day's steady downtrend into the early European session. Fed Chairman Jerome Powell said earlier this week that he does not see inflation falling to the Fed's 2% target...
TVC:GOLD Data released from the US on Friday showed the PCE Index decelerated to 3.8% in May from 4.3% previously. Additionally, the Core PCE Price Index fell to 4.6% from 4.7% in April. Aggressive major central banks also weaken XAU/USD. The more hawkish outlook of major central banks seems to further undermine demand for safe-haven gold and contribute to...
OANDA:XAUUSD A strong US dollar pushed gold to $1892, its lowest level since March. However, it later recovered to the $1910 area, easing the downside pressure. Positive numbers from the labor market and adjusted GDP show that the US economy remains strong and remains open to the possibility of more tightening from the Fed. The big belligerent central banks...
OANDA:XAUUSD Gold lacks clear direction even as bears push prices to three-month lows. The metal's recent sluggish move could be linked to a cautious mood ahead of key US inflation signs. Gold fell below $1,900 for the first time since March and then rallied strongly, even as US yields remained near daily highs, possibly due to profit-taking. The recovery has...
OANDA:XAUUSD XAU/USD is currently hovering around $1,912 and maintains a bearish view with a break above $1,900. XAU/USD came under selling pressure for the third day in a row, reaching as low as $1902.80. The US dollar rallied ahead of the Wall Street open on dismal US data. Support level: 1,903.00 1.888.10 1,870.15 Resistance levels: 1,920.80 1,933.50...
OANDA:XAUUSD Gold prices are trading near three-month lows, as the US Dollar is extending its recovery mode amid rising Fed expectations and ahead of a fresh round of US mid-level economic data releases. Immediate support is anticipated at $1,900, below which a fresh downtrend towards as low as $1,886 (March 15) cannot be ruled out. Conversely, a strong...
OANDA:XAUUSD The upbeat mood extended into the early US session, following upbeat US data. The US dollar regained momentum after the US open, as better-than-expected macroeconomic data and waning demand for the safety of government bonds pushed yields into positive territory. XAUUSD fell to $1,911.46 before recovering some ground. Gold's rally is facing new...
OANDA:XAUUSD Spot gold edged higher at the weekly open, filling a gap later in the European session. However, investors take a more cautious stance as major central banks continue to combat inflation with rate hikes at a time when most are believed to have paused and are preparing to move in the opposite direction. again. Gold prices struggled to gain any...
OANDA:XAUUSD Gold prices stalled Monday's rally, as a strong rally in US Treasury yields offset the US dollar, even as the market remained risk-averse. However, concerns about political instability in Russia boosted safe-haven flows into US government bonds, sending US Treasury yields plummeting. As a result, Gold price could challenge the key support of the...
OANDA:XAUUSD Gold's short-term pullback has ended and it is expected to fall back to the intraday low at $1910.00. The Gold sell-off was triggered by the upbeat US Dollar Index DXY. Gold prices started the week on a solid footing and extended the slide. Growing concerns about a global recession, combined with the hawkish outlook of major central banks, could...