World gold continues to test resistance below 2,050 USD/ounce and is having difficulty attracting new upward price momentum even when published data is not as expected.
Conference Board survey results released on February 27 showed that the US consumer confidence index decreased in February to 106.7, down from 110.90 adjusted down in January. Consumer optimism...
During the February 27 session, gold prices weakened after durable goods orders data and consumer confidence reports both fell stronger than expected. During the European session, XAU/USD increased to $2,039 but then fell sharply and closed the session at $2,030. Investors are waiting for upcoming US economic data to get more information about the world's largest...
Gold futures last traded at 2,041 USD/ounce, down 8.35 USD compared to yesterday morning.
World gold decreased slightly as the market waited for the US personal consumption expenditure (PCE) price index report. This important inflation data is expected to give investors more clues about the future interest rate direction of the US Federal Reserve (Fed). PCE, the...
While the weaker inflation report probably won't change things at the March meeting, according to OANDA senior market analyst Craig Erlam, it could at least trigger a debate. There is more serious discussion within the Fed about the timing of the first cut, and that could be positive for gold.
Despite gold's decline, FXTM senior research analyst Lukman Otunuga...
Over the past few weeks, Fed officials have emphasized that the market is too optimistic in expectations of policy easing
Reduced cut expectations have put slight pressure on XAU
World gold prices tend to increase with spot gold increasing by 1.3 USD to 2,036.6 USD/ounce. Last week, the world gold market was less volatile with prices fluctuating in a narrow range...
, gold has increased by 5 in 6 moderate versions. The US Dollar Index has also decreased in 6 of the last 7 sessions. Chandler said he expects the dollar to continue its downward trend because he believes the interest rate adjustment is coming to an end. He believes that spot gold could rise to $2,050/ounce this week.
If upcoming economic data continues to be...
Gold prices will still find support even as risk assets, such as stocks, rise. In addition, Goldman Sachs has forecast that gold prices will continue to rise this week after the FMOC meeting margin is announced.
If the upward momentum of XAU/USD continues today, it will mark six consecutive rising sessions for gold prices. Currently gold is trading around...
The political ladder and PMI news give XAU a boost in the future
In the context of ongoing conflicts in Ukraine and Gaza, haven assets such as gold tend to be more favored by investors. In addition, the minutes of the Fed's January FOMC meeting show that the US Central Bank seems to be more concerned about the inflationary risks of lowering interest rates too...
Despite the pressure, gold prices continued to consolidate as the Federal Reserve signaled that its monetary policy peak had been reached but there was no interest rate cut yet, according to minutes of the currency meeting
Almost all participants noted the possible risks of moving too quickly to ease policy field settings and emphasized the importance of carefully...
In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 103.91 points.
It is predicted that gold price will reach 2,210 USD/ounce in the fourth quarter of this year, reaching a new all-time high. However, he added that there is a possibility of stronger gold price gains as the Federal Reserve risks making policy mistakes.
Although...
With gold now up for the fourth day in a row, it has allowed a nice bullish trend to develop on the 1-hour chart. The recent gains were accompanied by increased volume and tapered off as the price retraced. The price is currently trying to build support around the 10-day EMA and previous highs/double tops around $2024 and RSI (2) is oversold, so perhaps an...
According to Kitco, the world gold price recorded at 5:00 am today Vietnam spot time was 2,017,945 USD/ounce. Today's gold price is 4,715 USD/ounce different from yesterday's gold price.
Gold prices rose in Asian trade extending a recovery to one-month lows after recently breaking below key support, despite worries of stabilizing a higher pace in the long term of...
Taming inflation was still not enough to trigger a rate cut in March
US five-year auction is tough, but Thursday's core PCE will be tame - what then? Potentially lower profits, but only temporary. The ECB takes center stage with Lagarde predicted to push back against an early cut. That might just mean avoiding speculation about timing altogether. What could be...
This downward trend is impacted by anticipated changes in Federal Reserve interest rate increases, higher U.S. Treasury yields and easing consumer inflation. These factors took XAU/USD to a 10-day low of $1,956.81. Demand for safe-haven assets such as gold has been limited due to positive market sentiment reflected in Wall Street's gains.
Investors are closely...
“The Federal Open Market Committee (FOMC) is committed to achieving a monetary policy stance that is restrictive enough to reduce inflation to 2% over time; We are not confident that we have reached such a position,” Mr. Powell said in his opening speech to a policy panel at the 24th annual Jacques Polak Research Conference, organized by the International Monetary...
According to the governor of the Croatian central bank, “if our current forecasts come true, we will have a soft landing with little loss, meaning no economic recession and a significant increase in unemployment ”.
“We cannot be certain that it will continue to be that way until we achieve our goals, but in my view, a soft landing remains a central scenario,” he...
“The Federal Open Market Committee (FOMC) is committed to achieving a monetary policy stance that is restrictive enough to reduce inflation to 2% over time; We are not confident that we have reached such a position,” Mr. Powell said in his opening speech to a policy panel at the 24th annual Jacques Polak Research Conference, organized by the International Monetary...
Bank of England (BoE) Andrew Bailey reiterated BoE Chief Economist Huw Pill's view that inflation is expected to fall sharply, driving the message of "higher interest rates for longer"
The focus of the day will be on statements from Fed officials. Some members still maintain a hawkish stance but the market will focus on Chairman Powell. Other Fed officials will...
