Gold prices continue to increase as the war situation in the Middle East escalates. Gold prices are currently increasing for 3 consecutive sessions and are currently trading around $2,349.70. During the April 9 session, gold prices continued to increase sharply, extending their upward momentum to 3 consecutive sessions and currently XAU/USD is trading around...
Gold turned down after a galloping increase at the beginning of the week. Gold has now adjusted back down after yesterday's increase to $2,353, the market awaits the upcoming US CPI report. During the April 8 session, gold turned down after a galloping increase on Monday. The precious metal spiked to nearly $2,354, then corrected down to $2,318 and then...
XAU/USD fell slightly below the 2,300 USD/oz mark ahead of US NFP jobs data Gold prices retreated slightly to around $2,270 at the beginning of the Asian session after just setting a new record high yesterday, surpassing $2,300. Geopolitical risks in the Middle East and expectations of loosening monetary policy from the Fed are still big driving forces for this...
Gold rebounded higher after the disappointing services PMI report. Gold broke out and increased around the $2,300 area after the US services PMI report was lower than expected. In the April 3 session, gold was supported when the ISM services PMI report dropped to 51.4 compared to the initially estimated level of 52.8. The precious metal fell to $2,267 early in...
Gold extends its upward momentum after the JOLTS jobs report Gold bounced above $2,270 after the JOLTS report, the focus turned to US services PMI data. During the April 2 session, gold mainly traded in the range of $2,248 - $2,263, then bounced above $2,270 when the JOLTS jobs report was as expected before correcting downward and ending the day at...
Gold surpassed $2,250 after last week's PCE report Gold rebounded sharply above $2,250 as the core PCE index matched estimates. Gold rebounded sharply over the weekend as the core PCE index matched estimates. The precious metal broke out from $2,194 to $2,235 before correcting slightly and ending the week at $2,223. The MoM core PCE index increased 0.3%,...
Gold is under pressure as the USD bounces up, waiting for the US core PCE report Gold sweeps two-way as the market awaits the core PCE report, the Fed's favorite inflation gauge, tomorrow. During the March 27 session, gold climbed above $2,193 before falling to $2,183 when the USD rebounded and then recovered and ended the day at $2,192 when US government bond...
The recovery in gold prices weakened as the US dollar rebounded. During the March 26 session, gold prices rose back to $2,195, but as soon as data on the number of US durable goods orders was announced, gold adjusted back down. Price support is currently located around the old peak at $2,144.5 There won't be much major news coming out in the near term, so all...
Gold turned down as the market waited for the CB consumer confidence report. Gold rose to $2,181 late yesterday as the USD weakened, focus turned to today's CB consumer confidence report. In the March 25 session, gold swept both ways but ended at a higher price when the USD fell. The precious metal rose to $2,178 then fell to $2,163, then reversed all losses and...
Gold rebounded at the beginning of the new week, waiting for the upcoming PCE report! Last week, gold rose sharply after the FOMC meeting but reversed most of the gain after a series of US economic data at the weekend. Last week, gold prices swept in two directions after economic data, especially after the Fed's interest rate policy meeting. The precious metal...
Gold weakened after lower-than-expected unemployment claims and manufacturing PMI rose, the focus turned to Chairman Powell's speech today. During the March 21 session, gold prices were under pressure when the number of applications for US unemployment benefits was lower than expected and the manufacturing PMI index increased. The precious metal dropped sharply...
Gold increased sharply after the Fed's decision to keep interest rates unchanged. Gold attracted strong buying pressure when the Fed kept interest rates unchanged and Chairman Powell expressed a "dovish" stance. In the March 20 session, after increasing by more than $10 to above $2,164, gold turned down again and ended the day at $2,157. Earlier today, the Fed...
Gold prices adjusted slightly downward as the USD appreciated thanks to a change in market expectations about the Fed's interest rates. During the March 19 session, gold prices fell to $2,150 as the US dollar continued to increase in price ahead of the Fed's FOMC meeting. The precious metal's nearest support is at the December 4 peak around $2,145. If this...
Gold is under pressure as investors wait for the Fed interest rate meeting Gold recovered slightly as the USD slowed down and investors prepared for the Fed meeting on Thursday. During the March 18 session, gold fell sharply from $2,159 to $2,146 when the USD was supported by the increase in US government bond yields before turning up and ending the day around...
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...