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Gold price increased sharply to set a recordThe August CPI report showed that core US inflation remains high, which is unlikely to prompt the Fed to cut interest rates by 50 basis points. Inflation has not fallen as expected, and if the Fed cuts by 50 basis points next week, it will mean that the US Central Bank is surrendering to inflation. Most economists participating in the survey believe that the Fed will cut interest rates by 25 basis points. Only 9 out of 101 economists predict the Fed will cut by 50 basis points.
TVC:GOLD
by NicoTradingMaster
XAU spikes after newsPreviously, gold was under pressure from expectations of a 50 basis point interest rate cut by the US Federal Reserve (Fed) at its policy meeting next week, which is cooling down after the August consumer price index report increased. According to the latest report, the US CPI in August increased by 2.5% compared to the same period, lower than the forecast of 2.6% and down significantly from 2.9% in July. According to experts, the August CPI report shows that the US core inflation is still high, not enough to make the Fed decide to cut interest rates by 50 basis points.
OANDA:XAUUSD
by NicoTradingMaster
XAU price remains stable for many consecutive daysGold traders are calm on the first trading day of the week as there are several important economic events that will impact the price of the precious metal. The USD index has shown strength considering recent data, but gold traders remain optimistic that gold prices will continue to move higher as the precious metal has remained above key levels over the past week. The price of the precious metal has traded above 2,500, a level that many traders consider to be very important for a number of reasons. First, this is an important level because it shows the strength of the overall price trend. Second, gold traders believe that as long as prices continue to trade above these key levels, there is a good chance that they will continue to move higher for the rest of the year.
OANDA:XAUUSD
by NicoTradingMaster
Bulls are dominating the trading marketA record displaying a weakening U.S. exertions marketplace on Friday may want to assist the Fed decide whether or not to reduce hobby charges through 25 or 50 foundation factors at its subsequent meeting. Lower hobby charges could weaken the greenback however notably growth the enchantment of non-yielding property along with gold. Gold fees have risen extra than 20% this year, hitting a height of $2,531.seventy five an oz in August. Along with expectancies of a Fed charge reduce, gold has been supported through robust retail call for and safe-haven call for because of conflicts withinside the Middle East and Ukraine.
OANDA:XAUUSD
by NicoTradingMaster
XAU stays green in the trading mapA report showing a weakening U.S. labor market on Friday could help the Fed determine whether to cut interest rates by 25 or 50 basis points at its next meeting. Lower interest rates would weaken the dollar but significantly increase the appeal of non-yielding assets such as gold. Gold prices have risen more than 20% this year, hitting a peak of $2,531.75 an ounce in August. Along with expectations of a Fed rate cut, gold has been supported by strong retail demand and safe-haven demand due to conflicts in the Middle East and Ukraine.
TVC:GOLD
by TrategySherpa
XAU may rise further in the short termGold is under pressure from weakness in global equities. However, the trend in gold prices remains bullish and these losses are only corrective. on the yellow metal’s resistance levels above $2,510/oz and expect gold prices to break $2,543/oz soon. The current environment is risky for most popular commodities and gold offers the best protection against depreciation. Accordingly, gold stands out as the commodity where Goldman Sachs has the highest confidence in the near-term upside. They continue to maintain their upside target of $2,700/oz by early 2025 and have opened a gold trading recommendation for three reasons.
OANDA:XAUUSD
by TrategySherpa
Investors are cautious as summer draws to a close.Gold’s struggles come as the US dollar, which fell to a one-year low last month and entered oversold territory, is seeing a modest shift in momentum. While September has been a tough month for gold in recent years, analysts do not see the bullion’s bullish trend ending. Looking beyond the near-term weakness, they see central bank buying continuing to provide solid support for gold. At the same time, new investor interest will begin to pick up as the Fed begins its long-awaited monetary easing cycle this month.
TVC:GOLD
by NicoTradingMaster
XAU surges after US economic dataGold prices rose 0.8% on Thursday after a report showed U.S. payrolls fell to their lowest level since early 2021 last month. The sharp drop in new jobs suggests a weakening U.S. labor market, which could prompt the Fed to cut interest rates soon to stimulate the economy. Friday's report showing a weakening U.S. labor market could help the Fed determine whether to cut interest rates by 25 or 50 basis points at its next meeting. Lower interest rates would weaken the dollar but significantly increase the appeal of non-yielding assets such as gold.
OANDA:XAUUSD
by NicoTradingMaster