Gold_Analysis1

Gold_Analysis1

GBP/USD extends its downside around the mid-1.2700s during the early Asian trading hours on Friday. The major pair drops to multi-day lows near 1.2740 amid the rebound in the Greenback after strong US economic data. Later in the day, traders will monitor the preliminary US Michigan Consumer Sentiment for March, which is expected to remain steady at 76.9.

Gold_Analysis1

The EUR/USD pair continues its downward trend for the second consecutive day, hitting weekly lows near 1.0870 in the Asian session on Friday. The depreciation of the EUR/USD is attributed to the US Dollar gaining strength, buoyed by the robust Producer Price Index data from the United States, signaling ongoing inflationary pressures in the economy.

Gold_Analysis1

Gold price struggles for a firm direction amid the uncertainty over the Fed’s rate-cut path. Geopolitical risk, along with the risk-off impulse, lends support to the safe-haven XAU/USD. Traders look to the US macro data for some impetus ahead of next week’s FOMC meeting.

Gold_Analysis1

Gold (XAU/USD) gathered bullish momentum and reached a new record high above $2,180 this week, boosted by falling US Treasury bond yields and the broad-based selling pressure surrounding the US Dollar (USD). The pair stays technically overbought ahead of next week’s key inflation data from the US.

Gold_Analysis1 Updated 

Gold price (XAU/USD) gains positive traction for the sixth successive day on Thursday and climbs back above the $2,030 level during the early part of the European session, closer to over a one-week high touched the previous day. Despite the Federal Reserve's (Fed) hawkish outlook on interest rates, the US Dollar (USD) drops to a three-week low and turns out to be...

Gold_Analysis1 Updated 

Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It’s traded constantly based on the intra-day spot rate....

Gold_Analysis1

GBP/USD advanced toward 1.2600 and turned positive on the day in the American session on Thursday. The renewed US Dollar weakness after weaker-than-expected January Retail Sales data helps the pair gather bullish momentum.

Gold_Analysis1

Gold price is up on Thursday, peaking intraday at $2,008.30 as the US Dollar came under selling pressure ahead of Wall Street’s opening and following the release of mixed United States (US) figures. XAU/USD, however, lost momentum as the session went by and now struggles to retain the $2,000 mark.

Gold_Analysis1

Gold and silver prices are seeing mild losses in early U.S. trading Wednesday. It’s a quieter marketplace at mid-week, with no new fundamental developments to significantly influence the markets. Risk appetite in the general marketplace is not robust, but neither is risk aversion keen. That’s keeping the safe-haven metals traders squelched at present. April gold...

Gold_Analysis1

Following a quiet European session near $2,020 on Tuesday, Gold turned north and advanced above $2,030. After Monday's sharp upsurge, the benchmark 10-year US Treasury bond yield is down more than 1% on the day, allowing XAU/USD to stretch higher.

Gold_Analysis1

GBP/USD lost nearly 1% on Friday and registered losses for the week as the US Dollar (USD) rallied on the back of the impressive labor market data for January. The pair holds relatively steady slightly above 1.2600 early Monday but the near-term technical outlook highlights a lack of buyer interest. Nonfarm Payrolls (NFP) in the US increased by 353,000 in...

Gold_Analysis1

Gold price (XAU/USD) extends last week's pullback from the $2,065 area, or a one-month peak and drifts lower through the first half of the European session on Monday. The downfall drags the precious metal to a one-week low, around the $2,022-2,021 area in the last hour and is sponsored by expectations that the Federal Reserve (Fed) will keep rates higher for...

Gold_Analysis1 Updated 

On the flip side, the $2,042-2,040 strong horizontal resistance breakpoint now seems to protect the immediate downside ahead of the 50-day Simple Moving Average (SMA), currently pegged near the $2,033-2,032 zone. A convincing break below the latter could drag the Gold price to the $2,012-2,010 area en route to the $2,000 psychological mark. Failure to defend the...

Gold_Analysis1 Updated 

Gold price is back in the green, on its way to retest the two-week high of $2,056 set on Wednesday. The US Dollar is fading its uptick amid a renewed appetite for risk assets, as markets cheer China’s fiscal support while assessing the US Federal Reserve interest rate outlook.

Gold_Analysis1

On the flip side, the overnight swing low, around the $2,020-2,019 area, now seems to protect the immediate downside ahead of the $2,012-2,010 zone and the $2,000 psychological mark. A convincing break below the latter will be seen as a fresh trigger for bearish traders and expose the 100-day SMA, currently near the $1,978-1,977 region. The Gold price could...

Gold_Analysis1

Gold reversed its direction and declined below $2,030 after rising toward $2,040 earlier in the day. XAU/USD manages to stay in positive territory despite broad USD strength as it benefits from retreating US yields and escalating tensions in the Middle East.

Gold_Analysis1 Updated 

Gold continues to fluctuate around $2,020 in the second half of the day on Friday. The benchmark 10-year US Treasury bond yield retreated toward 4.1% following the December PCE inflation data, allowing XAU/USD to hold its ground.

Gold_Analysis1

Gold has struggled against this central bank headwind and is sitting on a prior level of resistance turned support at $2,009/oz. This week’s sell-off has driven the spot price through both the 20- and 50-day simple moving averages, adding to the negative tone. We noted in the article above that $2,009/oz. should hold a short-term sell-off and while this still...