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...
TVC:GOLD GOLD is currently hovering around 1926$, with its upside potential still limited, according to technical indicators in the daily chart. Gold remains below the bearish 20 Simple Moving Average (SMA), heading south below the 100 SMA. At the same time, technical indicators have stalled their recovery, diverging directly below. their midline. In the short...
TVC:GOLD Gold price jostles with key short-term resistance around 1,930$, which includes the 23.6% one-day and 38.2% one-month Fibonacci, as well as the previous four-hour high. Accordingly, the previous weekly high of around 1,934$ could spur the bulls to GOLD before directing them to the 61.8% one-month Fibonacci level, also known as the golden Fibonacci...
OANDA:XAUUSD Gold lacks bullish momentum after four consecutive days of gains, hovering around the $1925 price zone. XAU/USD takes cues from the latest challenges to sentiment stemming from worries about the US-China trade war, as well as concerns surrounding a global recession. In the short term, XAU/USD is still likely to recover its bullish...
TVC:GOLD Gold prices struggled to gain any meaningful traction on Tuesday and hovered in a narrow trading range, around 1,920$ throughout the Asian session. Meanwhile, GOLD seems to have gained acceptance above the 200-hour Simple Moving Average (SMA) for the first time since June 16 and could look to build on the recent bounce from the zone. 1,895$ area or...
TVC:GOLD Despite not being able to break above the two-week descending resistance line, closest near 1,930$, Gold Price is still much higher than the 1917$ support confluence comprising the 200 Hourly Moving Average (HMA) and four-day-old bullish support line. conversely, keeping the GOLD bulls hoping to breach the stated resistance line one more time. It should...
OANDA:XAUUSD Gold remains around $1,920, trying to extend the previous day's rally after falling for the past three weeks. Gold prices met fresh supply at the end of the week and extended the day's steady downtrend into the early European session. Fed Chairman Jerome Powell said earlier this week that he does not see inflation falling to the Fed's 2% target...
TVC:GOLD Gold price remains out of the 1915$ to 1930$ trading range. However, the road to the north looks more bumpy and there are more fundamental challenges to thwart the GOLD bulls. That said, the one-month 38.2% Fibonacci joins the one-day Pivot Point R1 to limit the bullion's immediate uptrend near 1,930$. Accordingly, the previous weekly high of around...
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...
TVC:GOLD The US central bank has signaled that borrowing costs could still rise by as much as 50 basis points by the end of the year. Adding to that, upbeat US macro data due out on Thursday and Fed statement continued to push US Treasury yields higher and support the USD. The USD Index (DXY) climbs to a new two-week high. However, it remains to be seen...
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...
TVC:GOLD Gold prices failed to attract any buyers or rose overnight from multi-month lows. The big belligerent central banks continue to act like a headwind on unprofitable commodities. The US Dollar stands at highs near two-week highs and also contributes to the limitation of GOLD. Technical indicators on the 4-hour chart suggest more consolidation, as long as...
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...
TVC:GOLD Gold nears $1,900 on stronger US Dollar, hawkish central banks Gold prices attract new sellers after rising intraday to the 1912$-1913$ region and falling into the negative territory for the fourth consecutive day on Thursday. GOLD remains on the defensive during the European session and is currently placed near the lowest level since mid-March All...
TVC:GOLD Gold prices exhibited a corrective rally to a three-month low, marked the previous day, as it retested an intraday high around 1,912$ early Thursday in Asia. GOLD consolidates the latest losses even as central banks defend the trend toward “higher for longer” interest rates. GOLD is currently hovering around 1,912$ and maintains a bearish view with a...
TVC:GOLD Gold's drop on Wednesday was driven by narrow open interest, which lends to the idea that a recovery could be imminent in the very near term. In this regard, occasional bullish attempts are expected to meet initial resistance around the 1940$ per troy ounce area, an area that coincides with the 100-day SMA. On the downside, a strong resistance is seen...