Gold tries to end a three-day losing streak. Price finds support in the $1760 area. After the minutes of the Fed come data on unemployment benefits and home sales. The Prayed it is rising modestly on Thursday, which serves to end a streak of three consecutive days with losses. XAUUSD found support at the $1760 […]
Tag: XAUUSD
Forex Today – Asian Session: Fed cools tightening, dollar remains strong
What to watch for on Thursday, August 18: The US dollar finished higher against most major rivals on Wednesday, despite suffering a short-term pullback following the release of the FOMC meeting minutes. The greenback suffered a short-lived setback following the release of the Federal Reserve document, which showed US policymakers unanimously agreed to hike rates […]
Gold Price Forecast: XAU/USD falls to two-week lows and remains under pressure
Gold under pressure on rising dollar and sovereign bond yields. XAU/USD at a two-week low and with a very short-term negative bias. The Federal Reserve minutes are coming. The Prayed is falling for the third session in a row and continues to lose ground after being rejected above $1,800. The bearish bias further intensified after […]
Gold Price Forecast: XAU/USD remains bearish, tests $1770
Gold returns gains from the Asian session and hits its lowest in more than a week. Negative short-term outlook could change with consolidation above $1,782. Major US data ahead and Fed minutes. The Prayed is falling again on Wednesday, after failing to hold a rebound. XAU/UUSD rallied in the Asian session to $1,782, but then […]
Forex Today – Asian Session: Caution Underpins USD
What to watch for on Wednesday, August 17: Caution prevailed on Tuesday as the focus remains on a potential global recession. The dollar maintained its dominance despite a brief boost early in the American session. The EUR/USD pair extended its weekly decline to 1.0121 and ended the day around 1.0160. The European energy crisis remains […]
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 […]
Gold Price Forecast: XAUUSD Falls to Test Weekly Low Near $1770
The dollar rises again and helps push gold down. XAUUSD continues to correct after being rejected from $1,800. The Prayed is falling for the second day in a row, prolonging the correction from one-month highs and after failing to hold above $1,800. The yellow metal hit daily lows at $1,773, just above Monday’s low. The […]
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 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 […]
Forex Today – Asian Session: Risk Appetite Paused, But Still Leading
What to watch for on Friday, August 12: The dollar swung between gains and losses, ending the day lower against most major rivals. Wall Street opened the day firmly higher amid more signs of receding inflationary pressures in the United States, as the producer price index for July advanced 9.8%, lower than expected. However, as […]
