Gold News

WTI Fails to Recover Above 200DMA; Copper & Gold Affected by Strong Buck

WTI had a modest recovery on Tuesday, but was unable to remain above its 200-day moving average (DMA) of $95. Geopolitical tensions between the United States and China were in the spotlight during Nancy Pelosi’s visit to Taiwan. Copper and gold prices were negatively impacted by the resultant strength of the U.S. dollar, which was compounded by an increase in yields.

Gold News

Dollar Advances Eradicate Gold Increments

Gold is always heavily impacted by the strength or weakness of the dollar. Because gold is pegged to the U.S. dollar, the dollar is always a significant factor in price fluctuations.

Gold News

Prediction for Gold: XAU/USD falls to approximately $1,750 as risk aversion rises ahead of NFP data release

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.