XAU/USD has rebounded as traders buy the dip after the release of Initial Jobless Claims data showed less Americans are signing on for unemployment benefit than experts had forecast, led to a spike lower. The pair is currently trading up on the day at $1,982. Gold price shot higher following the March FOMC meeting on Wednesday. The ore beloved of king Midas of...
Gold bulls take a breather around $1,970 during Thursday’s sluggish Asian session, after posting the biggest daily gain in a week during the volatile Wednesday. Federal Reserve announcements, United States Treasury Secretary Janet Yellen’s comments weigh on yields and propel XAU/USD. The XAU/USD pair bottomed at $1,934.24 a troy ounce, a handful of cents above...
Spot gold held firm on Tuesday, continuing to retreat from recent peaks of $2,009.77 to trade below $1,950. Bright metals aim to regain early Asian momentum, although better mood capped US Dollar gains. The XAU/USD pair trades around $1943 and the correction continues to fall. However, the pair is holding above the 38.2% retracement level of the most recent rally...
World gold price is listed at 1,989.3 USD/ounce, up 121.2 USD/oz compared to last week's closing session. The most important event that investors are waiting for today is the monetary policy meeting of the US Federal Reserve (Fed). Markets are pricing the Fed for a 25 basis point increase, but investors say a pause and a rate cut could follow. Trading...
Gold price remains depressed after snapping three-day uptrend the previous day.. The bright metal remains down for the second consecutive day in the last five as the US Dollar traces upbeat Treasury bond yields to pare the week-start losses ahead of the key United States data. The daily chart for XAU/USD suggests it may continue advancing in the upcoming sessions...
XAU/USD is surging higher in the last four days and is up around 1% on the day. Falling US Treasury yields have fueled the Gold price higher as the market is scaling out for any 50 bps rate hike possibility for the March FOMC Meeting. XAU/USD benefited amid the softer US Dollar earlier in the Asian session due to the Federal Reserve (Fed) and the US Treasury...
GBP/USD has managed to erase its daily gains after having tested 1.2000 in the European session on Monday. The renewed US Dollar weakness following Wall Street's opening bell helps the pair keep its footing ahead of FOMC Chairman Powell's testimony on Tuesday. GBP/USD trades near 1.2050, where the 100-period Simple Moving Average (SMA) on the four-hour chart and...
EUR/USD has gathered bullish momentum and advanced toward 1.0700 in the second half of the day on Monday. In the absence of high-tier data releases, the positive shift witnessed in risk sentiment is weighing on the US Dollar and allowing the pair to climb higher. The EUR/USD pair is confined to a tight intraday range ahead of a directional catalyst. The pair is...
Gold prices are having a hard time gaining traction during the US session on Monday and extending the sideways period around the $1,850 level. Although the US Dollar remains under modest selling pressure, the rebound witnessed in the 10-year US Treasury bond yields capped the upside momentum of XAU/USD. On Friday, Gold prices had a daily close above the bearish...
Gold closed at $1,855,400 last week, in an absolute uptrend, having risen from a low of $1804 last month. Events that directly affect XAUUSD next week 1. Fed Chairman Powell testifies 2. ADP Non-Farm Employment Change 3. Fed Chairman Powell testifies 4. Job opportunity JOLTS 5. Non-Farm Employment Change (Most Important) On the H4 frame, XAUUSD has broken out...
world gold price closed the last session of the week at 1,857 USD/ounce, a sharp increase of 20 USD compared to the same time price of 1,837 USD/ounce the previous day. Last night, the world gold price fluctuated in the context of many speculations that in March 2022, the US will not raise interest rates beyond the market's expectation of 0.25 percentage...
Gold price is making headway for another run higher on Friday, having stalled its recovery mode a day before. Gold price is set for the first weekly gain in five weeks, as the United States Dollar (USD) has paused its uptrend ahead of the high-impact United States Services PMI data. Gold price is back in the green on the final trading day, with the renewed upside...
On the daily chart below, we can see that the buyers failed to break the 25K level with conviction and gave way to the sellers. The top came exactly at the previous August 2022 high and the divergence with the MACD signals that the price is likely to fall back to 21500 level which is the first target for the sellers. There was some uncertainty in the market given...
Gold prices lost traction and fell to $1,830 early in the US session on Thursday after having recovered to $1,840 earlier in the day. Yields on the benchmark 10-year US Treasury note rose nearly 2% on the day above 4%, forcing XAU/USD to hold its ground. From a technical perspective, the overnight swing high around the $1,844 area seems to act as an immediate...
Gold price advanced to the highest level in almost a week in the first half of Wednesday’s trading, as the US Dollar was thrown under the bus following the release of strong-than-expected China’s February Manufacturing and Services PMI data, which triggered a risk rally in global stocks. However, the upside in the Gold price remained capped, as the risk-on market...
Spot gold extended its rally on Wednesday, hitting an intraday high of $1,844.47 a troy ounce. XAU/USD pulled back from the level amid resurgent US Dollar demand following tepid United States macroeconomic figures but holds on to most of its intraday gains. Broad USD weakness ahead of data and the risk-averse ruling environment maintain Gold on the winning...
Gold price has delivered a downside break of the back-and-forth auction formed below the critical resistance of $1,840.00 in the Asian session. The precious metal has corrected gradually after a perpendicular upside move to $1,844.00. Still, the worsening mood is not enough to take XAU/USD down. The pair is currently battling to overcome the 23.6% retracement of...
Gold prices rallied in the first half of the trading week, breaking out of the bearish trend that has dominated XAU/USD price action for most of February, following the surprisingly hot US Nonfarm Payrolls report. The US 10-year Treasury yields are once again facing super-thick resistance at 4%, which is putting a hard limit on further US Dollar appreciation in...