Gold advances on a low-volume day due to the US holiday. DXY hit a two-decade high. The Prayed it found support above $1,705 in both the Asian and European sessions and recently rose to $1,715, marking a daily high. The intraday bias is slightly bullish, in a general context of limited price movements in the […]
Tag: Prayed
Gold Price Forecast: XAU/USD surges to 2-day highs above $1710 after employment report
US employment report for August is not far from expectations. The dollar loses strength due to a decline in Treasury bond yields. Gold adds further gains after the data, and extends rebound from critical support. Gold rose as high as $1,715 on US jobs data, hitting a two-day high. It then pulled back and is […]
Gold Price Forecast: XAU/USD breaks below $1700 and targets 2022 and 2021 lows
Gold hits eight-week lows and approaches 2022 floor at $1,680. The metal remains under pressure amid cautious weather and rising Treasury bond yields. US: Initial jobless claims fall to lowest in weeks, ISM manufacturing report is coming. Gold broke below $1,700 and fell to $1,694, hitting the lowest level since July 21. The price remains […]
Gold Price Forecast: XAU/USD Remains Under Pressure and Hits One-Month Lows Below $1700
Gold remains under pressure on rising Treasury yields. XAU/USD pressures the $1700 zone and looks closely at the 2022 floor at $1680. The XAU/USD is falling for the third day in a row and posted new one-month lows at $1699. The $1700 zone is being tested and if broken below the next support is seen […]
Gold Price Forecast: XAU/USD fails to recapture $1740, with support at $1730
Gold continues to return for Monday’s bounce. Price hit a daily low of $1,728 and then jumped to $1,737. Outlook continues to show some weakness, which could change from holding above $1,740. After a jump from the low of the day at $1728 to $1737, gold turned negative again and trades around $1733still showing some […]
Gold Price Forecast: XAU/USD Remains Weak Hitting One-Month Lows at $1720
Gold extends the decline until it finds support at $1720. Rise in Treasury bond yields continues to put downward pressure on the yellow metal. With no impact data on Monday, the week’s report will be Friday’s US employment report. Gold maintained weakness at the start of the week and fell to $1720, the lowest level […]
Gold: XAU/USD pulls back from 1-week highs amid solid USD rebound
Gold pulls back from one-week highs amid some buying around the dollar. Aggressive Fed expectations, high US bond yields and upbeat US data support the dollar. Recession fears dampen markets’ initial optimism and offer some support. The Prayed trims part of its intraday gains to the one-week highs hit this Thursday and pulls back below […]
Gold Price Forecast: XAU/USD surges to 1-week highs at $1,765
Gold gains momentum after breaking above $1,755. Bullish momentum eased after reaching $1765. The focus is on what Powell can say Friday from Jackson Hole. Gold advanced for the third day in a row on Thursday and hit as high as $1,765, the highest level in a week. It is trading around $1762, supported by […]
Gold Price Forecast: XAU/USD remains weak and returns below $1740
The market climate remains cautious. Metals fail to make up ground sustainably. XAUUSD erases daily gains after hitting $1,743. Gold is trading at the $1735 zone unchanged from Monday’s close. The price remains in the low zone in weeks, after a failed recovery. On the positive side, XAU/USD did not make new lows. Silver also […]
Gold Forecast: XAU/USD remains near multi-week lows, looks vulnerable near $1,730
Gold continues to lose ground for the sixth day in a row and falls to a four-week low. The aggressive expectations of the Fed, the increase in the yields of US bonds and the sustained purchase of dollars exert strong pressure. Recession fears and risk aversion momentum could limit the fall of safe haven XAU/USD. […]