The price of gold remains stable after bouncing from its monthly low. DXY pullback underpins rally as yields decline, recession woes test XAU/USD bulls. Cautious sentiment ahead of the Jackson Hole symposium and US data could restrict immediate moves. The Gold price (XAU/USD) remains lateralized near 1,745-46 dollarsafter the rebound from the monthly low, as […]
Tag: gold
Gold Forecast: XAU/USD updates daily high after disappointing US PMIs.
Gold gets some bids on Tuesday and rallies further from a multi-week low. A softer risk-off tone coupled with a modest dollar pullback offers support for the metal. Aggressive Fed expectations and high US bond yields should limit further gains. Gold reverses an intraday drop to the $1,730 area and rises to a new daily […]
Losses of 0.8% sent gold to a one-month low
The price of gold fell to an almost one-month low, amid a general sell-off in the metals against the backdrop of the dollar’s renewed surge and heightened concerns about another giant interest rate hike by the Fed. Specifically, the December gold contract ended the day trading having lost $14.50, or 0.8%, at $1,748.4 an ounce. […]
Gold Forecast: XAU/USD extends losses past $1,750
The price of gold slumped 3% for the week, despite investors’ sentiment on the July FOMC minutes. US central bank policy makers continued their campaign against inflation, while acknowledging downside risks to growth. Gold Price Analysis (XAU/USD): The break below $1,750 opened the door to the range of $1,711 to $1,739. the price of gold […]
Gold at a 3-week low, with a ‘dive’ of almost 3% on the 5th
Gold fell for a fifth straight session in its biggest losing streak since early July, with the precious metal falling to a three-week low. In particular, Mr gold December delivery he lost on Friday $8.30 or 0.5%to set its price at $1,762.90 an ounce. In the weekthe losses of gold they caught it 2.9%according to […]
Gold Forecast: XAU/USD Looks Vulnerable Near 3-Week Lows Amid Rising Dollar and Bond Yields
Gold continues to lose ground for the fifth day in a row and falls to a multi-week low. Gloomy expectations from the Fed, rising US bond yields and sustained dollar buying are putting pressure on. Recession fears and risk aversion momentum fail to impress bulls or lend any support to the metal. The Prayed it […]
Gold Forecast: XAU/USD hovers around $1,760 amid buoyant US dollar
The price of gold stumbles below the threshold of $1,760 due to the general strength of the US dollar. Fed officials opposed an “aggressive” stance by the central bank; they emphasized the need to “urgently” bring down inflation again. US housing and labor data were mixed, though mostly ignored by market participants. the price of […]
Gold closed up but below the ‘threshold’ of $1,800
With gains but without breaking the “psychological threshold” of $1,800 per ounce, gold closed on Thursday, remaining in this territory for the fourth consecutive session. More specifically, Mr December delivery gold lost $5.50, or 0.3%, to settle at $1,771.20 an ounce. The September delivery silver lost 27 cents, or about 1.4%, to $19.464 an ounce. […]
Gold Forecast: XAU/USD trims modest intraday gains, holds above two-week lows
Gold gains some positive traction on Thursday, although it lacks follow-up buying. Pullback in US bond yields and recession fears offer safe haven XAU/USD support. Federal Reserve expectations and a strengthening dollar should limit any significant gains. The Prayed It maintains its modest intraday gains during the early North American session and is currently sitting […]
Gold Forecast: XAU/USD dips below $1,780, though clings to 50-DMA
The gold price is falling on higher US yields and risk appetite. US housing data continues to deteriorate, adding to Monday’s New York Fed manufacturing index, reigniting recession fears. Investors are awaiting the minutes of the last FOMC meeting on Wednesday and the new spokesperson for the Fed. the price of gold falls due to […]