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Shinobi_Pips Updated 

Gold prices edged higher on Tuesday on expectations that the U.S. Federal Reserve will likely end its monetary tightening cycle after a widely expected rate hike this week. Spot gold was up 0.3% to $1,960.02 per ounce by 09:35 a.m. EDT (1335 GMT), while U.S. gold futures were steady at $1,961.70. “Gold is expected to be in a range-bound trade before the Fed...

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Gold Price (XAU/USD) steadies around $1,965 as bulls and bears jostle during the early hours of the key data comprising the Federal Open Market Committee (FOMC) monetary policy meeting announcements. Also challenging the XAU/USD price could be the latest headlines testing the previous optimism about China. Furthermore, mixed data from the United States and the...

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The mid-July peak of 1.1275 traded outside the upper band of the 21-day simple moving average (SMA) based Bollinger Band. After it closed back inside the band, it opened up a bearish run over the next few days as discussed here at the time. Not surprisingly, the width of the Bollinger Bands has narrowed as the price has retraced. This indicates that historical...

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The forthcoming recalibration of Bitcoin’s difficulty is slated to happen on or about July 26. Following a notable rise of 6.45% on July 11, it’s projected that there could be a downward adjustment ranging from 3.9% to 4.04%. Bitcoin’s block generation occurs roughly every ten minutes and every 2,016 blocks, a drop in the difficulty of mining takes place if the...

Shinobi_Pips Updated 

A week packed full of high-importance economic releases, central bank meetings, and mega tech stock earnings, starts today with the release of the latest S&P Global PMIs at 14:45 UK time. While expectations for the US releases are little changed from last month, if they are anything like today’s Euro and UK sentiment numbers then they may be set to disappoint the...

Shinobi_Pips Updated 

Gold price struggles to gain any meaningful traction on the first day of a new week and remains confined in a narrow band around the 100-day Simple Moving Average (SMA) through the Asian session. The XAU/USD currently trades just above the $1,960 level, nearly unchanged for the day, as traders keenly await this week's key central bank event risks before...

Shinobi_Pips Updated 

The US dollar has perked up this week and currently trades around 150 pips higher than this week’s 99.50 low print. Recent US economic data has been marginally better than expected, while the US dollar index has been boosted by a bout of weakness in a range of basket currencies. With no Federal Reserve speakers scheduled until after next Wednesday’s FOMC policy...

Shinobi_Pips Updated 

Gold prices were little changed on Monday as investors awaited a U.S. Federal Reserve meeting this week where the central bank could signal a pause in interest rate hikes from July. With a Fed rate hike in the July meeting nearly certain, "a positive outlook for gold revolves around central bank buying to drive long-term gold prices," said Michael Langford, chief...

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Amidst the dynamic and ever-changing landscape of the cryptocurrency market, Bitcoin's recent performance has been under scrutiny. Currently trading at 29,890, the world's leading digital currency has experienced a slight decrease of nearly 0.25% on Sunday. However, what has drawn significant attention is the notable drop in its trading volume, which has now...

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BTCUSD and other cryptocurrencies slid Friday, with digital assets continuing to underperform the stock market in what may be a worrying sign for crypto sentiment. The price of Bitcoin has fallen 1.5% over the past 24 hours to below $29,800, slipping outside the trading range between the psychologically important $30,000 level and $31,000—a zone that has...

Shinobi_Pips Updated 

Gold Price (XAU/USD) remains pressured at $1,9170 amid early Friday morning in Asia, after reversing from a nine-week high as market players seek more clues to justify the latest pullback in the metal’s prices. Despite the retreat, the XAU/USD remains on the way to posting the third consecutive weekly gain while ignoring the US Dollar’s ability to recover from a...

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The CPI release hit market expectations of further aggressive rate hikes from the Bank of England, with the prospect of Britain's rates rising above 6%, from the current 5%, now likely off the table. Euro edges higher; uncertainty over ECB’s September meeting EUR/USD rose 0.2% to 1.1217, after German producer prices fell less than expected in June, adding to the...

Shinobi_Pips Updated 

Gold price turns volatile as US weekly jobless claims remain surprisingly below forecasts Gold price (XAU/USD) drops below the immediate support of $1,980.00 after printing a fresh two-month high of $1,987.53 on Thursday. The precious metal has faced pressure as initial jobless claims for the week ending July 16 have surprisingly remained below expectations. The...

Shinobi_Pips Updated 

The US Dollar (USD) struggles to capitalize on its recent recovery from the lowest level since April 2022 and retreats further from a one-week high touched on Wednesday. This, in turn, is seen lending some support to the US Dollar-denominated Gold price. The markets started pricing out the possibility of any further interest rate hikes by the Federal Reserve...

Shinobi_Pips Updated 

The euro picked up some support ahead of the European session as German PPI data beat estimates that could point to continued inflationary pressures within the German economy. This falls in line with yesterday’s CPI report but the tone set out by ECB officials seems to be more dovish as economic growth concerns in the region ramp up. With roughly two additional...

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Bitcoin's price analysis indicates that the $29,550 level is currently a crucial support level, while the $30,000 level holds psychological significance. The presence of doji and spinning top candle patterns above $29,550 suggests a weakening bearish sentiment and the potential for a bullish shift in the market sentiment. However, it's worth noting that the...

Shinobi_Pips Updated 

Gold price (XAU/USD) is demonstrating a non-directional performance on Wednesday after printing a fresh seven-month high above $1,980.00. The precious metal witnessed immense strength on Tuesday after US Retail Sales for June showed that consumer spending momentum has slowed down but is still sufficient to push the Federal Reserve (Fed) to raise interest rates...