Gold price remains supported above the 21 DMA with an eye on $1,870. Risk appetite inflows and dollar decline coupled with yields favor XAUUSD bulls. The results of the US ADP survey on employment may reignite the Fed’s aggressive tightening bets and limit the rebound in gold. the price of gold it is supported by […]
Tag: Commodities
Forex Today: Dollar Recovery Loses Strength Ahead of Jobs Data
This is what you need to know to trade today Thursday June 2: Rising US Treasury yields continued to help the US dollar on Wednesday and the dollar index DXY posted its biggest daily gain in a month. The DXY index remains in a consolidation phase below 102.50 early on Thursday as attention turns to […]
Saudi Arabia ready to pump more oil if Russian production sinks under sanctions – FT
Saudi Arabia has indicated to its Western allies that it is prepared to increase oil production in the event that Russia’s production falls substantially due to energy sanctions against Moscow.as reported by the Financial Times (FT), citing five people familiar with the discussions. Key points “Saudi Arabia is aware of the risks and that it’s […]
Silver Price Analysis: XAG/USD bounces away from weekly lows and looks to retest $22.00
Silver trims some of its weekly losses but remains down 1%. Risk aversion underpins the unprofitable metal, along with the dollar Positive economic data from the US keeps the USD tilted higher. Fed officials expect rate hikes of 50 basis points in June and July. Silver Price Forecast (XAG/USD): Slanted to the downside, though a […]
Forex Today: Dollar Holds Ahead of US PMI and BoC Rate Decision
This is what you need to know to trade today Wednesday June 1: The dollar took advantage of the safe haven money flows on Tuesday and the index of the US dollar DXY snapped a three-day losing streak. The 10-year US Treasury yield continues to rise and helps the dollar hold ground early on Wednesday […]
Gold Price Forecast: XAU/USD reverses intraday decline, lacks continuation around $1,855
A softer risk tone helps safe haven gold reverse a modest intraday drop. The rebound in US bond yields benefits the dollar and caps the yellow metal’s gains. Investors are now awaiting this week’s key US macroeconomic data for further momentum. The gold has captured some buying in the $1,846 zone on Tuesday and has […]
Gold Price Analysis: XAU/USD hovers around $1,850
Gold aims to end the week with decent gains of 0.37%. US core PCE falls 5.1% year-on-year, although still at 40-year highs; will the Fed pause? Gold Price Analysis (XAU/USD): If gold bulls reclaim $1,870, a push towards $1,900 is anticipated. Gold (XAU/USD) rises during the American session, but still unable to challenge the weekly […]
Gold Price Forecast: XAU/USD hangs on to gains above $1,850, lacks continuation
The selling bias around the dollar helps gold gain some positive traction on Friday. Speculation that the Federal Reserve would pause the interest rate hike cycle weighed on the dollar. Risk appetite could cap the yellow metal’s gains ahead of the release of the US PCE price index. The price of gold (XAU/USD) it has […]
Forex Today: Dollar struggles to find demand ahead of US inflation data
This is what you need to know to trade today friday may 27: With risk flows dominating financial markets on Thursday, Wall Street’s major indices posted impressive gains and the dollar continued to lose interest. Although the market mood appears to have turned cautious early on Friday, the US Dollar Index is trading at its […]
Gold Price Forecast: XAU/USD still under pressure below $1,850, flirts with 200-day SMA
Some continuation buying around the dollar drags gold prices lower for the second day in a row on Thursday. Recession fears continue to weigh on investor sentiment and could support XAU/USD. Investors await the US GDP report and other macroeconomic releases for a significant boost. The price of gold (XAU/USD) has extended the previous day’s […]
