XAU/USD Clings to Gains above $1,860, Focus Remains on US CPI Report
The gold price is in the midst of a resurgence after falling to its lowest level in over a month. The XAU/USD has clung to its gains above $1,860, a nearly 0.50% increase for the day. The upward momentum is likely due to a weaker US dollar and fears of a recession that have made […]
US Economics probe XAU/USD Bears
Gold Price technical outlook Gold Price extends bounce off an upward sloping support line from March 2021. That said, the corrective pullback from the yearly low also takes clues from the oversold RSI (14) to direct XAU/USD buyers towards a horizontal area comprising multiple levels marked since early 2021, surrounding $1,721-22. It’s worth noting, however, […]
Gold Price Forecast: XAU/USD sees exhaustion around $1,820 after a downside move, DXY skids
👉Gold price is expected to rebound as a retest of Wednesday’s low shows a loss of downside momentum. 👉The hawkish commentary from Fed Powell has put the gold prices on tenterhooks for a prolonged period. 👉The DXY is performing lackluster on the downbeat US PMI. Gold price (XAU/USD) is hoping for a rebound as the […]
Gold Price Forecast: XAU/USD tumbles below $1,830 as uncertainty over Fed Powell’s testimony soars
👉 Gold prices have extended their losses after slipping below the cushion of $1,830.00. 👉 Fed Powell’s testimony is expected to be extremely hawkish considering the runaway inflation rate. 👉 The EU is supposed to ban gold trading from Russia. Gold price (XAU/USD) has extended its losses in the Asian session after violating the critical support […]
XAU/USD retreats towards $2,020 as Ukraine-Russia stand-off ease
Ukraine and Venezuela’s efforts to tame the respective geopolitical tensions with Russia and the US have recently improved market sentiment. As a result, the metal’s safe-haven demand gets a dent, which in turn triggered the latest pullback in XAU/USD prices. Gold buyers take a breather around $2,042, down 0.40% intraday during Wednesday’s Asian session. In […]
Gold holds near 1900 After US Jobs Data NFP 559K | Forex Trade Signal Review
Gold is holding near to $1,900 an ounce amid a debate around price pressures after U.S. employers increased hiring in May and raised wages as they competed for workers. But the nonfarm payrolls increase of 559,000 jobs was below the 650,000 forecast of economists. Meanwhile, investors were also assessing comments by Treasury Secretary Janet Yellen […]