Gold is struggling to gain any significant traction and is trading in a range on Monday. A modest pullback in the dollar from two-decade highs offers some support for the metal. Expectations of an aggressive tightening by the main central banks could continue to be limited. The Prayed it lacks a firm directional bias and […]
Tag: XAUUSD
Gold Price Forecast: XAU/USD rises modestly on Monday, holds above $1705
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 […]
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 Rises Above $1,700 Ahead of US Jobs Data
Gold rebounds after approaching the floor of the last two years. Expectation placed on the US employment data. The Prayed is rising on the preview of the US employment report and ends a negative streak. He’s having the best day in over a week. XAUUSD returned above $1,700 after trading at $1,687, a one-month low. […]
Forex Today – Asian Session: The dollar continues to lose
What to watch for on Friday, September 2: Financial markets started September on the wrong foot, as recession-related concerns were exacerbated by China’s announcement that Chengdu, a city of roughly 21 million people, has been placed in lockdown over coronavirus. The US dollar rose, helped by upbeat local data and gloomy markets. In Europe, attention […]
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: Break below $1,691/$76 will turn risk to the downside for the next 1-3 months – Credit Suisse
Gold is under new pressure. A major “double top” remains threatening, which would turn risks to the downside for at least the next 1-3 monthsreport Credit Suisse strategists. Break above the 55 DMA at $1,766 to confirm further range “We continue to insist that a closing break below $1,691/76 would be enough to complete a […]
Forex today: The dollar remains victorious for another month
What to watch for on Thursday, September 1: The US dollar ended the month of August with substantial gains across the currency board. On Wednesday, it rose against most of its major rivals, although the EUR/USD pair advanced for the third day in a row and traded around 1.0050. The EU’s Harmonized Index of Consumer […]
Gold falls to a new monthly low below $1,720
Gold was again under bearish pressure in the European session on Tuesday. The 10-year US Treasury bond yield is rising, weighing on XAU/USD. Dollar Index gains ground ahead of jobs data. Having spent the Asian session fluctuating in a relatively tight channel above $1,720, gold turned south during European trading hours and fell to its […]