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 […]
Ukraine’s President Zelenskyy imposes Martial Law
As Russia goes to war, Ukraine’s President Volodymyr Zelenskyy announces the imposition of martial law, which will cover the entire country. Zelenskyy noted: “Russia carried out missile strikes on our infrastructure and on our border guards.” This comes after Ukrainian President Zelensky and his American counterpart Joe Biden spoke on the phone, earlier on. Meanwhile, […]
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 […]
AUD Rising while most Asian Currencies Weaken After FOMC Minutes
AUD/USD is likely to continue rallying from near 0.7200 currently to 0.7800 over the next year, CBA says. The pair is already around its highest levels since early 2019. The risk over the medium term is higher commodity prices as China ramps up commodity-heavy infrastructure spending, with iron-ore prices likely to remain above US$100/ton for the […]
Which countries hold the most Gold reserves in the world? Here are the Top 10
In times of uncertainty, gold has long been touted as a ‘safe haven’ – and never more so than during times of financial crisis like the one the Covid-19 pandemic has triggered worldwide. Gold has always been an important part of foreign reserves of nations across the globe. While the ‘gold standard’ was abandoned in […]
The Biggest Drop of GOLD price in Seven Years after bond yields spiked higher
The rally that pushed gold to record heights above $2,000 an ounce has come to an abrupt halt, with the haven metal posting the biggest drop in seven years after bond yields spiked higher. Treasury bond yields climbed, cutting into the negative real rates that had supported the metal. The 10-year Treasury yield jumped the […]