The gold price is seeking to reclaim its monthly high of $1,800.00 due to a lower-than-expected US inflation forecast. The negative consensus of the US CPI is due to the sensitivity of oil prices. RSI (14) has gone into the 60.00-80.00 area, indicating a pleasant ride for precious metals.
Written by: Winona Grant
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Gold prices continue to rise, up more than 3% on the week. Rate-sensitive assets are likely to be supported in the short term by the decline in U.S. Treasury yields.
Written by: Winona Grant
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The gold markets attempted to surge once more during the trading session on Wednesday, but the 50 Day EMA remains something of a hurdle.
Written by: Winona Grant
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The price of gold has slowed its daily gains and retreats from a level that has served as resistance for 11 weeks. Although the economy and China are both weighing on market sentiment, the US dollar isn’t helping investors take a less risky approach. Before the announcement of US NFP, traders may pay attention to Fed utterances and reports on Sino-American ties.
Written by: Winona Grant
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The decision of whether to raise interest rates by 75 basis points or the more aggressive 100 basis points will be considered by gold dealers.
Written by: Winona Grant
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Gold price is set to resume its downward trend as the DXY gains ground. The inflation rate and declining incomes will reduce the demand for durable goods. The US Michigan CSI is projected to decrease to 49.9 from 50 previously reported.
Written by: Winona Grant
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Gold Price struggles to prolong corrective retreat from annual low. Yields, Fedspeak probes XAUUSD sellers ahead of the major US consumer-centric data. Updates from China, recession worries drive pessimistic stance.
Written by: Winona Grant
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As the greemback continues to pick up the bidding, gold is under pressure. This week’s markets will be heavily influenced by the US Consumer Price Index (CPI).
Written by: Winona Grant
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Gold’s price chart shows a return to the annual bottom after a corrective pullback. Optimism from the White House and conflicting news on China’s economy are putting the XAUUSD in a better position to rebound from recent losses. The June US CPI will be critical in light of concerns about Fed aggressiveness and recession.
Written by: Winona Grant
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Gold Price had difficulty capitalizing on the slight intraday rebound from a new yearly low. Recession worries and the risk-averse disposition continued to provide some support for the commodity. A continuation of the USD’s recent strong bullish run worked as a headwind for the XAUUSD.
Written by: Winona Grant
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