Gold price has picked up fresh bids and hit a new all-time high above the $2,350 barrier in Asian trading on Monday. Reducing bets for a June Fed rate cut and easing geopolitical tensions fail to deter Gold buyers amid expectations of a surge in central banks' Gold purchases. From a technical perspective, weakness below the $2,265 area could expose the weekly...
ANALYSIS OF IMPORTANT ECONOMIC HIGHLIGHTS OANDA:XAUUSD Gold Price OANDA:XAUUSD climbs to all-time highs of nearly $2,250 per troy ounce during the early Asian session on Monday. The yellow metal attracts some buyers amid the expectations of a Federal Reserve (Fed) pivot in the second half of 2024, the ongoing geopolitical tensions in the Middle East,...
OANDA:XAUUSD retreats to $2,160 as US yields rebound XAUUSD: Technical analysis OANDA:XAUUSD lost its traction and retreated to the $2,160 area. Following a downward correction in the European session, the benchmark 10-year US Treasury bond yield recovered to 4.3%, making it difficult for OANDA:XAUUSD to hold its ground. From a technical...
The US Dollar registered its first weekly decline for 2024, which, along with increasing demand for traditional safe-haven assets, lifted the Gold price to over a two-week high on Friday. The growing conviction that the Federal Reserve will wait until the June policy meeting before cutting interest rates keeps a lid on any further appreciating move for the...
TVC:GOLD Gold price remains slightly bullish as it consolidates previous losses amid positioning ahead of NFP. Also allowing Gold to maintain a light bid are headlines showing China stimulus and US Treasury yields falling from their highest levels since November 2022. It's worth noting the active signals The recent mixed US employment and activity has been...
OANDA:XAUUSD Late Tuesday, ratings agency Fitch downgraded the top U.S. government credit rating to AA+ from AAA, citing the risk of a financial recession over the next three years. The US dollar partially reversed earlier gains and tracked fresh weakness in US Treasury yields, providing some support for gold prices early Wednesday. The greenback failed to...
OANDA:XAUUSD Gold prices fell slightly on the first day of a new week and partially eroded Friday's positive move. The more hawkish outlook of major central banks puts downward pressure on XAU/USD. Hoping that the Fed will end its rate hike cycle soon could help limit further losses for the precious metal. On the downside, bullish technicals will continue to...
OANDA:XAUUSD Gold prices continued to move higher during the US session and stabilized around $1,960 on Friday. Benchmark 10-year US Treasury yields remain in negative territory below 4% following weak June PCE inflation data from the US, helping XAU/USD hold its ground. Gold prices face pressure after a short-lived recovery approaching $1956.00 as US Dollar...
OANDA:XAUUSD Gold is hovering around the 20-Day Simple Moving Average, at $1945. A clear daily close below will add to the negative outlook. Conversely, if it tries to sustain above, XAU/USD might continue to move sideways. A solid break above $1980 will bring control to the bulls. Support levels: 1,942 1,932 1.915 Resistances: 1,953 1,966 1,974 The main...