Market attention was low on Monday, with no major news releases. U.S. retail sales data on Tuesday, weekly jobless claims on Thursday and the initial Purchasing Managers Index (PMI) on Friday may provide more information on consumption and economic strength. Gold fluctuated between 2310 and 2327 on Monday. After hitting the bottom at 2287, it has been...
Gold prices at the beginning of the week yesterday fell slightly as they were affected by the recovery of the USD and rising bond yields, while investors looked forward to economic data and comments from US Federal Reserve officials. (Fed) to know more about the roadmap to cut interest rates. In this context, it is forecasted that gold price may move sideways in...
EUR/USD falls to 1.0700 as the Euro weakens amid French election uncertainty. ECB policymakers see a bumpy inflation path towards the 2% target. The Fed maintaining its hawkish stance will offset the impact of weak US inflation data. The next support level for EURUSD is around 1.066. Traders can pay attention to execute BUY signals. The main resistance level...
Gold increased for the second consecutive trading day, the gold price once reached 2,320 USD. The market will receive the Federal Reserve's interest rate decision and US CPI data, which is expected to explode the market. US CPI Data and Federal Reserve Decision Coming Soon. US May CPI data will be released a few hours before the Fed decision. If inflation stays...
The gold market maintained a steady recovery ahead of the weekend, but the overall trend remains unclear as US consumer confidence continues to decline and inflation expectations remain high. The new divergence between the Fed's interest rate forecast and market expectations could bring some volatility to the gold market in the short term. China is the main...
At the hourly level, gold is in an upward trend. The MACD indicator has a trend of a golden cross. You can go long, with a target of 2335-2340. If you agree with my point of view, remember to pay attention, and leave a message if you have any questions
Gold gains traction and trades around $2,321 in the latter half of Thursday, buoyed by a drop in the benchmark 10-year US Treasury bond yield, which fell more than 1% on the day to below 4.3% following disappointing US economic data. This decline in bond yields provides support for XAU/USD. The price action in gold demonstrated a strong rejection from a minor...
Gold for delivery closed down more than 20 USD on Thursday, fell below the 2,300 USD/ounce mark, and recovered slightly in the European session on Friday to 2,314. Despite weak US PPI, gold prices still fell sharply as the Federal Reserve forecasted only one interest rate cut this year. In addition, a stronger US Dollar also affects gold prices. The Federal...
📌EUR/USD continued to slide to Friday's lows, falling to 1.0670 before recovering to 1.0700 during the US market session. Political pressure is weighing on the Euro after a major change in European voter sentiment. 📌On the US side, increasingly negative data is raising concerns about a possible recession, fueled by the results of the University of Michigan (UoM)...
Hello everyone, Brian here! As we kick off the trading week, gold prices opened at around $2,315 per ounce, shedding more than ten dollars compared to last Friday's close. Given this context, the precious metal is unlikely to make significant gains in the short term. This week, traders are keenly awaiting new updates from several European countries' monetary...
Hello dear friends, Today, gold is trading around $1330. A close examination of the chart reveals that this metal is still operating within a selling zone. Current Status: Resistance levels and sell points remain active, yet the overall outlook for XAUUSD shows signs of promise. Gold appears to be consolidating near the upper range of its short-term trading...
Hello everyone, it's Brian! Let's dive into today's gold market analysis. On today's chart, gold is showing a slight increase compared to the same time in yesterday's session. Currently, it's trading around $2330, and I have a few observations to share. Trend Analysis: Gold is still in a consolidation phase, lacking any significant breakout as it remains...
Gold prices have surged, driven by weaker-than-expected US retail sales and expectations of lower interest rates. Here are the key factors: Weak Retail Sales: The US retail sales report came in below expectations, indicating reduced consumer spending. This raises concerns about economic growth, possibly leading to economic stimulus or looser monetary policy...
Gold broke its down trend at 1680 and It was a great opportunity for longing and now we heading to 1815 XAU continues to push higher and trades above $1,770 for the first time in nearly three months on Friday. The US Dollar stays under heavy bearish pressure as investors cheer the soft US inflation report and heightened optimism about Chine easing coronavirus...
Gold dropped from peak to 2,340 USD before Fed information After CPI rose to a three-day high past the $2,340/troy ounce mark, gold prices now appear to have digested that initial move and returned some gains amid a weaker dollar and Yields fell ahead of the FOMC event later in the session. The 2340 level is unlikely to hold before the FOMC. The 2352 resistance...
Hi everyone, Today, we are witnessing a solid recovery in gold prices. Currently, gold is hovering around the 2315 USD mark and continues to trade well within its short-term upward channel. I remain optimistic about gold's upward movement until we receive the CPI news later today. What do you think? Do you believe the CPI report will help gold continue its...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Gold, after modest gains over the past two days, trades with a negative bias during the early European session on Wednesday. This slight downturn, however, lacks momentum as traders await crucial US economic data releases later in the day. Market Sentiment and Anticipated Economic Data Traders are keenly focused on the upcoming consumer inflation figures from...