The precious metals complex remains on the defensive, with gold hitting a two-month low and silver hitting a two-year low. Risk aversion dominates Tuesday’s session as investors prepare for June’s US CPI report. Analysts at Commerzbank commented that the strength of the US dollar and exits from gold ETFs keep XAUUSD heavy. Gold Price Forecast […]
Tag: Commodities
Gold Price Analysis: XAU/USD struggles to post any recovery, remains near yearly lows
Gold price struggles to take advantage of modest intraday rebound from new yearly low. Recession fears and risk aversion sentiment continue to lend some support to the yellow metal. The continuation of the recent strong dollar bull run acts as a headwind for XAU/USD. The price of Gold (XAU/USD) has reversed an intraday decline to […]
US: Failure to cap Russian oil price could push prices up to $140
A senior US Treasury official said on Tuesday that “if the proposal to limit the price of Russian oil is not implemented, with an exemption for purchases below the limit, the price of oil could rise to around $140/barrel“. Additional comments US Treasury Secretary, Janet Yellenwill discuss the implementation of the proposed oil price cap […]
Gold Forecast: XAU/USD Approaches All-Time Low as Dollar Buying Continues
The price of gold saw some selling on Monday amid relentless buying interest in the dollar. Bets on more aggressive rate hikes by the Fed pushed the dollar to a new 20-year high. Recession fears weighed on investor sentiment and helped limit XAU/USD’s losses. the price of gold fell during the first hour of the […]
Silver Price Analysis: XAG/USD still stuck in a range, not out of the woods yet
Silver consolidates its recent drop to a two-year low and remains range bound. The setup favors the bears, although the oversold RSI on the daily chart warrants some caution. Sustained weakness below the $19.00-$18.90 zone is needed to confirm a further bearish breakout. Silver continued its struggle to post any significant recovery from a two-year […]
Gold Forecast: XAU/USD advances strongly, hovering around $1,750 on strong US data.
On Friday, gold is up nearly 0.40%, but is still down 3.53% on the week. The shiny metal regained some of its shine due to a weaker US dollar and mixed sentiment. Gold Price Forecast (XAUUSD): A Falling Wedge Suggests Upside Pressure Might Be Building But Buyers Need To Reclaim $1,773; otherwise, gold can fall […]
Gold Price Forecast: XAU/USD looks vulnerable near yearly low, holds below $1,750 ahead of NFP
The price of gold continues its struggle to post a significant recovery from the yearly low. Expectations of an aggressive Fed rate hike are keeping the dollar near its 20-year high and capping gold’s gains. Recession fears benefit XAU/USD as attention turns to NFP. The price of Prayed extends its consolidation move on Friday and […]
Gold Forecast: XAU/USD advances towards $1,740, after hitting a 9-month low near $1,730
The yellow metal was bolstered by upbeat sentiment and a weak US dollar. Gold’s rally could be short-lived as US Treasury yields rise, a headwind for XAUUSD prices. Gold Price Forecast (XAUUSD): Could rally towards $1760 before continuing lower. Gold (XAU/USD) bounces off multi-month lows around $1,730 and rises during the American session as recession […]
Silver Price Analysis: XAG/USD is holding on to a modest recovery around $19
Silver rose on Thursday and moved away from the two-year low it hit overnight. Last week’s break through downtrend channel support continues to favor the bears. The oversold of the RSI on the daily chart warrants some caution before positioning for further decline. the silver It gained some positive traction on Thursday and built on […]
Gold Forecast: XAU/USD struggles to ride modest recovery from last year’s low
The gold price gained some traction on Thursday and snapped a three-day losing streak to a year low. The dollar’s modest retreat from 20-year highs was seen as a key factor benefiting the commodity. Bets on a Fed rate hike, a rebound in US bond yields and a positive risk tone could limit gains. the […]