The Federal Reserve has decided to keep interest rates the same as predicted. However, during the FOMC meeting, Mr. Powell stated that he believes there will be two more rate hikes in order to reach the 2% inflation target. It's important to note that keeping interest rates unchanged does not signify the end of the rate hike process.
Looking at the short-term...
The value of the dollar index has decreased, resulting in a lower price for gold for those who hold other currencies.
Investors are closely monitoring the upcoming Fed meeting and the US consumer prices report for May through June 13 to gain a better understanding of the state of the economy.
There has been mixed economic data along with dovish comments from Fed...
This week, the value of gold received a boost due to weak economic data in the US, which caused the dollar to decline.
This led to speculation that the Federal Reserve may not raise interest rates further.
However, this support is limited as the dollar is expected to recover due to uncertainty about the Fed's next move.
Although some areas of the US economy are...
Gold prices increased by more than 0.7% on Thursday, resulting in an overall gain of about 1.6% for the week.
This marks the best week for gold since early April. The rise in XAU/USD comes as the US Dollar and Treasury yields weaken, highlighting gold's anti-fiat characteristics.
On the daily chart, the next major technical obstacle for gold prices is...
Yesterday, gold prices experienced their largest daily gain in over a week due to a decrease in the US Dollar Index and Treasury yields.
This was partly due to month-end positioning and a general sense of caution among investors.
Mixed US data also contributed to the decrease in the value of the dollar and an increase in the value of XAU/USD.
The Relative...
At the beginning of the week, the price of gold dropped to the lowest it's been in two months. This was due to the easing of concerns around the US debt ceiling and the increase in US yields.
The real yield, which is calculated by subtracting the market rate of inflation from the nominal yield, also contributed to the weakening of gold.
The US Dollar has been...
Additionally, concerns about a potential U.S. debt default further affected the market.
The rise in interest rates negatively impacts non-yielding assets such as gold, as it increases the opportunity cost of holding them.
The Fed's approach to rate hikes is based on data, and with inflation rising, they may consider further hikes.
Economic risks from a possible...
Gold price fell below the support of $1936.00 during Asian trading, after slipping beneath the $1952.00 cushion due to the US economy's approaching default.
Technical indicators suggest a downside risk in the daily chart.
The US Dollar found support due to positive macroeconomic data and the gloomy market mood. The currency remains strong, while the stock market...
Gold is facing difficulty in finding a clear direction as the market remains indecisive due to conflicting signals regarding US debt extension talks and the US Federal Reserve.
Currently, the market is struggling around the key short-term support line near $1,955, and the XAU/USD daily chart suggests a bearish extension.
The risk is also leaning towards the...
Gold prices have been trading in a narrow range of $1,950-1,980 for almost a week.
This comes after the prices dropped below $2,000 level due to the uncertainty around the US default.
Copper prices have hit a six-month low due to weakening demand and global manufacturing activity.
The metals market has been under pressure as the US dollar has strengthened, with...
Gold prices struggled to capitalize on its modest intraday gains and attracted some selling near the $1980 region during the early European session on Wednesday.
Today, I still expect Gold to break out of the 1978$ price zone and move further to the 1985 and 1995 short term targets.
If everything goes as expected, Gold has almost completed wave 4 Elliott and wave...
Gold prices remain stable below $2,000 as US lawmakers continue talks on raising the debt ceiling.
The Federal Reserve's mixed signals on monetary policy have caused a lack of safe-haven demand for gold, resulting in a drop in prices.
However, experts predict that Gold will not fluctuate much this week and will try to return to the $2,000 price area. Currently,...
The price of gold is hovering near a seven-week low due to the recent downtrend. The strength of the USD is causing this, as optimism about the United States debt ceiling talks and hawkish Federal Reserve comments are supporting the currency.
Additionally, recent challenges to US debt limit extension and a US-Taiwan trade deal are causing the XAU/USD price to...
Gold sold off on Friday, but the bulls managed to fend off the attack on the psychological $2,000 level, allowing the price to establish a base and recover on Monday, a sign signal that the path of least resistance remains to the upside, with the precious metal benefiting from the uptrend.
If XAU/USD remains on its bullish trajectory, and breaks out of the 2034 ...
