💵GOLD PRICE AND ECONOMIC INFORMATION Gold held steady above the $2,300 per ounce mark on Friday, on track for its first weekly gain in four weeks after falling over 1% in the previous session, as investors assessed softer-than-anticipated US inflation figures against the Federal Reserve’s updated interest rate projections. Thursday's data showed that the US PPI...
Gold edged lower to hold near $2,360 per ounce on Wednesday, as investors continued to reduce bets on US Fed rate cuts this year, following recent remarks from officials, while awaiting the key PCE inflation report. On Tuesday, Minneapolis Fed President Neel Kashkari stated in an interview that the Fed should delay cutting rates until inflation significantly...
Analyzing the current landscape during the Christmas holiday, gold prices ("XAU/USD") are likely to maintain their upward trend, hovering around the psychological resistance of $2,000 per ounce. The ongoing weakness of the US dollar continues to support the bullish sentiment. From a technical standpoint, key resistance levels stand at $2,055, $2,070, and $2,085....
Gold has been on a rollercoaster this week with whipsaw price action sending mixed signals. A week that promised a lot did deliver on the volatility front but failed to provide any clarity on the possible direction of Gold prices moving forward. At the time of writing Gold trades at $1,954, just a smidge higher than last weeks close. The Fed's decision on...
Gold has tried lower but rallied off the floor after the US Dollar took a turn in the aftermath of rate decisions from the Federal Reserve and the European Central Bank this week. Gold’s recent dip below an ascending trend line and subsequent test of support levels in the $1.936 – $1.945 area might ask more questions than it answers. This may suggest that recent...
The Federal Reserve recently concluded a highly anticipated policy meeting, deciding to maintain the current benchmark interest rate at a range of 5.00% to 5.25%, aligning with market expectations. This unanimous decision, widely communicated by some senior members of the FOMC in recent weeks, indicates that policymakers remain consistent and agree on the...
Gold prices dropped due to weaker US dollar and rising bond yields ahead of the FOMC meeting. The monthly headline CPI for May was 0.1%, lower than the previous 0.4%, resulting in an annual rate of 4.0%, slightly lower than the expected 4.1% and the previous 4.9%. The core CPI was 0.4% in May, meeting expectations, and 5.3% compared to the same period last year,...
The gold market continues to decline after the Fed's interest rate decision led to a revaluation of expectations, with a rate hike expected in July. The highly anticipated inflation report revealed a contrasting outlook for the US. While inflation has dropped to 4% annually, the core CPI, which excludes energy and volatile food prices, still runs at 5.3%, a...
Gold prices slightly increased today as the market anticipates the possible outcomes of the US CPI and PPI before the Fed's FOMC meeting tomorrow. Meanwhile, the US 10-year real interest rate continued to inch up slightly to above 1.5% with stable bond yields this week ahead of the significant monetary policy meeting and inflation data. The real yield is the...
Gold went bullish on structure, after leaving us with a couple of lost trades and untagged ones we still follow our strategy with it, Another buyb is taken