Gold prices pull back on Friday, eroding some of the previous day’s gains to a one-month high. A modest dollar strength turns out to be a key factor putting some pressure on the yellow metal. Recession fears and geopolitical tensions should limit losses ahead of the US NFP report. The Prayed It attracts some sellers […]
Tag: Commodities
Gold Forecast: XAU/USD pulls back from 1-month highs, remains offered above $1,775
Gold climbs higher during the early American session and updates one-month highs. Geopolitical tensions, recession fears, declining US bond yields and dollar weakness offer some support. Signs of stability in financial markets act as a headwind ahead of Friday’s NFP report. Gold dipped a bit from the one-month highs reached during the first hour of […]
Silver Price Analysis: XAG/USD is back nearing the 50% retracement and 50-day moving average
Silver rises for the second day in a row. The technical setup favors the bulls and supports the prospects for a further appreciation move. A convincing break below the $19.20 area would turn the bias in favor of the bears. Silver gained momentum and rose for the second day in a row on Thursday, moving […]
Gold Price Forecast: XAU/USD surges to new daily highs near $1,775
Gold gains ground for the second day in a row on Thursday amid modest dollar weakness. The decline in US bond yields seems to weigh on the dollar and offers support to the commodity. Prospects for further Fed policy tightening could limit the rally ahead of Friday’s NFP. The Prayed builds on the modest rise […]
Gold Price Forecast: XAU/USD hangs on to gains near $1,765, lacks bullish conviction
Gold regains positive traction on Wednesday amid escalating tensions between the US and China over Taiwan. The appearance of new sales around the dollar turns out to be another factor that lends support to the yellow metal. Aggressive comments from several Fed officials the day before prevent a rally in XAU/USD. The Prayed It attracts […]
Forex Today: Dollar Recovery Loses Strength Ahead of Key Data Release
This is what you need to know to trade today Wednesday, August 3: The DXY dollar index snapped a four-day losing streak on Tuesday as it escalating geopolitical tensions it allowed safe-haven money flows to continue to dominate financial markets. There appears to be a modest improvement in risk sentiment early on Wednesday, with US […]
Gold Forecast: XAU/USD Holds on to Gains Near Multi-Week Highs Around $1,780 Zone
Gold gains traction for the fifth day in a row and rises to a four-week high on Tuesday. The decline in US bond yields and the risk-off mood continue to provide support for XAU/USD. The USD’s rebound from a multi-week low is acting as a headwind for the commodity. Gold builds on last week’s bullish […]
Silver Price Analysis: Bulls Looking to Take Control Near 50% Fibonacci
Silver reverses modest intraday decline to $20.00 zone. The technical set-up supports the prospects for additional short-term gains. The bulls could wait for the strength to hold beyond the 50-day SMA. On Tuesday, the silver attracted some buying in the $20.15 to $20.10 area and came back close to the one-month high reached the previous […]
Silver Price Analysis: XAG/USD bulls take a breather near the 50-day SMA barrier at $20.50
Silver is seen digesting its recent strong move towards a one-month high, set earlier this Monday. The oscillators on the daily chart favor the bulls and support the prospects for further gains. In the 4 hours chart, the RSI is slightly overbought, which justifies a consolidation before the next rise. the silver struggles to ride […]
Gold Price Forecast: XAU/USD Hits New Multi-Week High on Dollar Weakness
Gold rises for the fourth day in a row and hits a new weekly high. The weakness of the dollar and stability in yields continue to favor the yellow metal. Rise in gold also drags silver. The Prayed reverses its initial loss and turns positive for the fourth day in a row on Monday. The […]
