Gold bears are putting pressure on the bulls in a critical area of ​​the daily chart. The price of gold is under pressure despite the increasing odds of a recession. At $1,806, the price of gold it is down 0.66% after falling from a high of $1,825.21 to a session low of $1,802.77, breaking out […]
Tag: Commodities
Gold Forecast: XAU/USD looks vulnerable near two-week lows, focus on US PCE.
Gold weakens near a two-week low amid prospects for aggressive Fed rate hikes. Recession fears, falling US bond yields and modest dollar weakness offer some support. Recent repeated failures near the 200-day SMA support the prospect of further losses. The Prayed it trades with a slight negative bias for the fourth day in a row […]
Forex Today: Safe Haven Flows Return, Spotlight on US PCE Inflation Data
This is what you need to know to trade today Thursday June 30: The safe haven money flows dominate financial markets early on Thursday with major European equity indices suffering heavy losses. The DXY dollar index remains relatively calm near 105.00 after a two-day rally. The United States Bureau of Economic Analysis will publish the […]
AUD/USD falls as US dollar soars to 105
AUD/USD bears are moving in as the US dollar strengthens on risk aversion. DXY has risen above 105, dragging commodity currencies lower. At 0.6875, the AUD/USD is down 0.4% on the day as the US dollar has recovered and broken above the 105 level, measured against a basket of currencies via the DXY index. The […]
Gold Price Forecast: XAU/USD Hits 2-Week Low Near $1,815
Gold remains on the defensive for the third day in a row and falls to a nearly two-week low. The modest strength of the dollar was seen as a key factor weighing on the yellow metal, denominated in dollars. Recession fears and falling US bond yields could help limit losses ahead of speeches from top […]
G7: Sanctions will not affect Russian food and agricultural products
The leaders of the Group of Seven (G7) issued a joint publication on Tuesday asking all partners to avoid unjustified trade restrictive measures that put food security at risk. Highlights It keeps the commitment to keep food and agricultural markets open. They ask partners with large food reserves to make them available without distorting markets. […]
Gold Forecast: XAU/USD Holds on to Gains Near $1,825, Upside Looks Limited
Gold gains positive traction on Tuesday and recoups some of the previous day’s losses. Reduced expectations for more aggressive Fed rate hikes and recession fears offer some support. A modest rally in the dollar acts as a headwind and caps the yellow metal’s gains. The Prayed it has attracted some buying on Tuesday and has […]
Gold Forecast: XAUUSD flirts with daily low, looks vulnerable near $1,830 zone
Gold once again faced rejection near the 200 DMA. The boost in risk appetite and rising US bond yields acted as a headwind for the commodity. The appearance of some purchases in dollars contributed to the intraday selling trend. The Prayed continued to struggle to break above the important 200-day SMA and witnessed some intraday […]
Gold Price Forecast: XAU/USD Steady at $1,840 Zone Just Below 200 SMA
A combination of supportive factors drives gold prices higher on the first day of a new week. G7 countries’ plan to ban bullion imports from Russia boosts gold price amid dollar weakness. Risk appetite prevents bulls from opening aggressive positions and limits profits. The Prayed it has attracted some buying at lower levels, after covering […]
Silver Price Analysis: XAG/USD rises to $21.50, targets 200-period SMA
Silver gains strength for the second day in a row and recovers further from the monthly low. The breakout of the 200-period SMA on the 4-hour chart should allow the bulls to conquer the $22.00 level. A sustained weakness below $21.00 would change the bias in favor of the bears. Silver price (XAG/USD) has built […]
