Gold comes under pressure as the week of major central bank meetings begins Gold extended its decline from last week's economic data, with focus shifting to this week's Fed meeting World gold prices had a volatile week when US economic data was stronger than estimates. The precious metal plummeted from $2,179 to $2,152 on a higher-than-expected CPI report,...
Gold weakens after US PPI data, focus turns to consumer sentiment report. Gold falls lower as PPI data is better than expected, boosting USD and US government bond yields. In the March 14 session, gold weakened after the release of US PPI data increased higher than expected, causing the market to lower the price of interest rate cuts. The precious metal fell...
Gold price adjusted to $2,160 after US CPI news. During the March 12 session, gold adjusted sharply down after the US CPI data was released and the precious metal is currently trading around $2,160. With the RSI indicator starting to trend downward after touching the overbought zone, XAU/USD may also correct in the near future. Gold's current support is around...
Although interest rates are still remaining high, gold prices are remaining stable and history has proven that gold prices will respond positively to lower interest rates and quantitative easing. Besides, geopolitical risks and unexpected crises can also be the reason to push gold prices higher. Despite record high interest rates, gold shows notable upside...
The US Dollar Weakens, While Gold and Bitcoin Reach New Highs Ahead of NFP Report. In a speech before the Senate Banking Committee yesterday, Fed Chairman Jerome Powell hinted that interest rates may soon fall, saying, "If the economy performs as expected, the Fed is cautious about easing loosen monetary policy in the near future", and he also added: "The Fed is...
Gold continues to rise after Chairman Powell's first testimony Gold prices extended their upward momentum after Chairman Powell leaned toward the "dovish" side and reported a lower-than-expected JOLTS. During the March 6 session, gold prices maintained their upward momentum, supported when Fed Chairman Powell leaned towards the "dovish" side in his first...
Gold extended its upward momentum after the weak US services PMI report Gold prices extended their upward momentum after services PMI data missed estimates, investors waited for Fed Chairman Powell's testimony today. During the March 54 session, gold prices maintained their upward momentum, supported by PMI data that was lower than estimates. In the European...
Gold prices extend strong gains as USD comes under pressure, focus turns to today's services PMI report. In the March 4 session, gold prices extended their strong upward momentum in the context of the greenback being under pressure. In the European session, gold increased sharply from $2,083 to over $2,100 and closed the session at $2,119. Lower-than-expected US...
Gold shows outstanding strength after US economic data releases. Gold prices rebounded sharply after US PCE data matched estimates, along with a manufacturing PMI report and a lower-than-expected consumer confidence index. This past week, gold prices rallied from $2,028, broke through the $2,050 resistance, and pushed to $2,083 after the US core PCE report...
Gold prices rebounded after US PCE data matched estimates, supporting expectations of interest rate cuts in the near future. During the February 29 session, gold prices increased sharply from $2,028 to $2,050 after the US core PCE report completely coincided with market predictions. The precious metal then fell slightly and ended the day at $2,044. It is still...
Gold prices rebounded thanks to Middle East geopolitical tensions and US GDP figures missing estimates. During the February 27 session, gold prices increased sharply from $2,024 to $2,037 as geopolitical tensions increased and US GDP figures were lower than expected. However, precious metals have not been able to extend their upward momentum in the context that...
Gold's implied volatility from the derivatives market remains low and there are few signs of a spike. Typically, gold prices increase during periods of high volatility and decline during periods of lower volatility. However, weakness in the USD and US government bond yields on Tuesday helped prolong gold's rally. Gold prices tend to move inversely to the USD...
Gold rebounded to $2,040 following a decline in US unemployment claims, with focus shifting to key economic data next week. Over the past week, gold prices fell to $2,020 following PMI data and US unemployment claims on Thursday but then recovered to $2,040 heading into the weekend. In the context that Fed officials are not yet ready to cut interest rates and the...
Investors will be waiting for economic data with a big impact on the US next week: core PCE data - the Fed's favorite inflation measure. Core PCE is forecast to increase 0.4% in January, pushing the annual figure down from 2.9% to 2.7%. However, traders should not be surprised if these numbers suddenly increase considering previous CPI and PPI...
Gold rebounded despite FOMC meeting minutes maintaining "hawkish" stance World gold prices were not negatively affected in the context that this morning's FOMC meeting minutes did not create a surprise for the market. During the February 21 session, gold prices increased to $2,031 as the USD weakened in the context of investors cautiously waiting for the FOMC...
Although gold prices increased slightly yesterday, they adjusted back down early this morning. Gold prices continued to recover during the session on February 20, approaching the resistance level at $2,030. However, this morning the gold price had a slight correction and is currently trading around the construction level of $2,026. Gold's rise is currently being...
Gold benefits when Middle East geopolitical tensions escalate, the market waits for the FOMC meeting minutes and CPI report to determine the outlook. During the February 19 session, gold rose to nearly $2,023 as Middle East geopolitical tensions persisted but then fell back as the USD recovered. In the context of investors maintaining caution, precious metals are...
Gold continues to be under pressure from strong economic data Gold had a volatile week after a series of US economic data rose above estimates Gold had a volatile week with a sharp drop from $2,031 to $1,990 on Tuesday as the US CPI report beat estimates. Precious metals recovered but then sold off slightly on Friday when US PPI data also increased more than...