Florence_scalping

Florence_scalping Updated 

The precious metal price continued to trade at the lowest level within 5 months after the minutes of the July monetary policy meeting of the US Federal Reserve (Fed) were released. The minutes showed that the majority of the bank's officials continued to prioritize fighting inflation, while only a few pointed to the risks to the economy by pushing interest rates...

Florence_scalping Updated 

Gold prices fell slightly in midday US trading on Tuesday, hitting a five-month low overnight. A better-than-expected US economic report today helped maintain pressure on the precious metals. However, gold and silver are trading up from daily lows. Finally, December gold fell $4.80 to $1,939. Intraday US data points showed retail sales for July rose 0.7% from...

Florence_scalping Updated 

The world gold price in the short term is forecasted to still be supported by a stronger USD while many Asian currencies are still under downward pressure. The yuan is quite weak when the Chinese economy has not shown any signs of recovery. The real estate market in this country is still in a gloomy situation. However, in the long term, the USD is considered...

Florence_scalping Updated 

Higher real rates could be starting to finally weigh on gold prices. Real yields have been elevated on rising nominal interest rates, moderating price pressures/inflation expectations amid the growing perception of the ‘higher-for-longer-rates’ theme. In contrast, gold has stayed broadly in a range, widening the gap with real yields. Gold is a non-interest,...

Florence_scalping Updated 

World gold price was stable with spot gold down 1 USD to 1,912.2 USD/ounce. December gold futures last traded at $1,948.9 an ounce, down $1.70 from the previous morning. The dollar rallied again in the last session, after the release of US inflation data showed a moderate increase last month, but still well above the Fed's 2% inflation target. United States of...

Florence_scalping Updated 

Gold prices weakened after the release of US inflation data on Thursday, reversing the uptrend in the first 12 hours of the day. The headline CPI reached 3.2% in July, slightly lower than the consensus of 3.3%, but still higher than the previous month's 3%. Meanwhile, the core measure eased slightly to 4.7% from the expected 4.8%. Bond yields also aimed higher -...

Florence_scalping Updated 

Gold price traded on Kitco floor at 1911.8 USD/oz, up 4.4 USD/oz compared to late afternoon of 14/8. According to many analysts, the gold market is unlikely to break out in the short term in the context of the US Federal Reserve's (Fed) policy of tightening interest rates. According to Clifford Bennett, chief economist at ACY Securities, gold is likely to remain...

Florence_scalping Updated 

The gold price continues to languish going into Tuesday’s trading session as the US Dollar pursues higher ground, assisted by rising Treasury yields. The metals complex is generally weaker across the board, impeded by the stronger Dollar and deteriorating appetite for risk and growth-orientated assets.

Florence_scalping Updated 

Recent tough monetary policy statements by Fed officials have dampened expectations for gold's rise. The main US and China inflation reports this week will be the focus of the market. The July US Consumer Price Index (CPI) will be released on Thursday, followed by the Producer Price Index (PPI) on Friday. July CPI is expected to increase slightly compared to the...

Florence_scalping Updated 

On the 4-hour chart, a short-term downtrend is visible. A descending trendline is acting as support, indicating a stable downward trend. The Death Cross, a bearish signal between the 50 and 100 moving averages, formed earlier this month, suggesting further price decline. The positive divergence of the RSI suggests that the downward momentum is fading. XAU/USD is...

Florence_scalping Updated 

Gold prices continue to decline this week due to previous information. The market expects gold to trade around $1,950 for the rest of the summer as solid economic growth supports expectations that the Fed will maintain a hawkish stance until the end of the year. However, experts remain optimistic about the long-term prospects of the precious metal. The recent WGC...

Florence_scalping Updated 

Precious metals recently experienced a price drop as the US employment report for July fell short of expectations, reflecting decreases in May and June as well. Despite lingering inflation pressures, the latest gold survey by Kitco News shows a weakening US labor market, leaving most market analysts optimistic or neutral about the outlook for gold this week. The...

Florence_scalping Updated 

Gold prices bounced back today after weaker-than-expected US job report for July. The successful reversal from last week's drop below $1,926 is a positive signal, paving the way for higher levels this week. US job market cooling down is what the Federal Reserve wants. The market believes interest rates have peaked, and the Fed's next move is to lower them. In...

Florence_scalping Updated 

Gold prices stood at $1,942, slightly increasing following the release of the US July employment report. According to the US Bureau of Labor Statistics, non-farm payrolls increased by 187,000 jobs in July, slightly lower than the expected 200,000 jobs. The report highlighted that the country's unemployment rate improved, decreasing to 3.5% from 3.6% in June,...

Florence_scalping Updated 

The gold market is off its lows but still remains under pressure as the number of jobs available in the U.S. fall in line with expectations. Job openings, a measure of labor demand, dropped to 9.58 million on the last day of July, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. According to consensus...

Florence_scalping Updated 

Gold prices remain stable in Asian trading on Wednesday after a sell-off in New York overnight. This action came after Fitch, a major credit rating agency, downgraded the US sovereign debt rating to AA+ from AAA. Fitch expects the country's financial condition to deteriorate in the next three years, with high and increasing government debt burden and erosion in...

Florence_scalping Updated 

Analysts note that the US dollar and bond yields have benefited from the safe-haven flow, which has kept gold prices steady. The 10-year bond yield has risen above 4%, and the US dollar index is trading at its highest level in four weeks, at 102 points. In light of these headwinds, gold prices have dropped to a three-week low and are testing a key support level....

Florence_scalping Updated 

Gold prices are currently at $1,936, down $2 from yesterday. The recent downgrade of the US government's credit rating by Fitch has significantly affected investor sentiment. On August 2nd, Fitch downgraded the US credit rating due to worsening financial prospects and increasing public debt burden. This decision has negatively impacted the risk appetite of...