Gold closed lower on Monday, falling to its lowest level in more than a week and below the psychological level of $1,800. Analysts attributed the decline, in part, to a strengthening US dollar, with the ICE US Dollar index rising 0.8% in Monday’s trading, weighing on dollar-denominated prices of the precious metal. In this climate, […]
Tag: gold
Gold Forecast: XAU/USD Buyers Failed to Break $1,800 Despite Falling US Bond Yields
The price of gold records gains for four consecutive weeks, rising 1.08%. Weaker US inflation data for the week has investors cheering and hoping the Fed will tighten monetary policy “less.” The UoM consumer sentiment report for August beat expectations. Gold Price Forecast: The price of gold remains range bound despite broad dollar weakness over […]
Gold gains for fourth consecutive week, up 1.3%
Gold returned to positive territory on Friday after a negative break in yesterday’s session, with the precious metal posting gains for a fourth straight week. In particular, Mr gold U.S. crude for December delivery rose 0.5% on Friday, or $8.30, to settle at $1,815.50 an ounce. For the week, gold gained 1.3% in its longest […]
Gold Price Forecast: XAU/USD remains on the defensive amid modest dollar strength
Gold is moving lower for the third day in a row amid a modest rebound in demand for the dollar. Risk appetite puts some downward pressure on the safe-haven yellow metal. Uncertainty about the magnitude of further rate hikes caps the dollar and offers support. The Prayed enters negative territory for the third day in […]
Gold’s bull run is over
Gold ended its roughly one-week bull run on Thursday, in contrast to the rising stock market, after yesterday’s stock market euphoria brought by the slowdown in the consumer price index, today’s announcement of the unexpected reduction in producer prices continues to give impetus in the investment mood. So, even though inflation continues to run high, […]
Gold Forecast: XAU/USD Rises Amid USD Weakness, Risk Appetite Limits Gains
Gold attracts some buying and rises to the $1,800 area amid sustained dollar selling. Diminishing odds of a further Fed rate hike and declining US bond yields continue to weigh on the dollar. The boost in risk appetite seems to be the only factor limiting the rise in the safe-haven commodity. The Prayed reverses an […]
Gold Forecast: XAU/USD pulls back from US CPI high and back below $1,800
Gold receives aggressive bids in the last hour and jumps to a new multi-week high. The broad sell-off in dollars following the US CPI provides a good boost to the commodity. Diminishing odds of a further Fed rate hike in September further benefits the metal. The risk appetite boost caps the XAU/USD haven and warrants […]
Gold closed at a six-week high on expectations of US inflation
Gold closed at its highest level since late June on Tuesday, a day ahead of the much-anticipated release of July US consumer price data, which is expected to provide insight into the Federal Reserve’s next steps on the battlefield. against inflation. Today’s rise in the yellow metal was fueled by falling stocks and a sliding […]
Gold at six-week high on US inflation wait
Gold closed at its highest level since late June on Tuesday, a day ahead of the much-anticipated release of July US consumer price data, which is expected to provide insight into the Federal Reserve’s next steps on the battlefield. against inflation. Today’s rise in the yellow metal was fueled by falling stocks and a sliding […]
Gold Forecast: XAU/USD hits $1,800 for the first time since July 5
Gold regains positive traction on Tuesday and rises to a new multi-week high. The dollar falls for the second consecutive day and offers support to the metal. Recession fear weighs on investor sentiment and benefits haven XAU/USD. Federal Reserve expectations could cap gains ahead of the US CPI release on Wednesday. The Prayed It attracts […]