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Forward-looking gold volatility has been languishing of late, but it has inched up in the last few trading sessions. This may hint toward some uncertainty within the market and a significant move in price might be in the offing. Keeping all of this in mind, the yellow metal has held up reasonably well so far, but if these headwinds persist it could be undermined...

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Gold prices continue to drop after new employment data showed a strong job market, supporting expectations of further interest rate hikes by the US Federal Reserve. Specifically, 324,000 jobs were created in the previous month, surpassing economists' expectations of around 191,000. Currently, the market is waiting for the July employment report for clearer clues...

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Persistent economic uncertainty created robust physical demand for gold supporting prices at record levels during the second quarter, according to the latest research from the World Gold Council. In its second quarter Gold Demand Trends, the WGC noted that gold prices saw a record average price of $1,976 an ounce, up 6% from the second quarter of 2022 and up 4%...

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Gold price stands at $1,962, a slight increase of $6 compared to yesterday morning. The gold market is quiet as investors await the July employment report for clues about the Federal Reserve's future monetary policy. Despite positive economic data and the Fed's hawkish stance, gold remains supported around $1,950. The precious metal market is stagnant as...

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Gold prices fluctuated within a narrow range at the start of the week as investors awaited more information on US economic data to gain clearer insights into the Federal Reserve's monetary policy stance. Last week, gold experienced a sharp sell-off on Thursday following optimistic growth and better-than-expected employment data in the US. However, the precious...

Florence_scalping Updated 

Gold prices dropped at the beginning of the week as investors awaited additional information on the Federal Reserve's monetary policy stance. According to experts, gold prices decreased from their weekly high after better-than-expected GDP figures and a larger-than-anticipated decrease in unemployment claims. Recent data revealed that the US economy grew by 2.4%...

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The Euro is not affected by today's data, and with the ongoing holiday season, price action may be limited in the coming days. The EUR/USD has rebounded above 1.1000 after touching a low of 1.0944 on Friday, and it could be driven by the US dollar in the coming days. The key economic release in the US this week will be the Non-Farm Payrolls (NFP) report on...

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Newly released economic data shows that the US economy is recovering strongly, it is unlikely to fall into a recession during this period. Therefore, it suggests that high interest rates will continue to be maintained for a long time. Gold is on track to record its deepest weekly loss since June 23 as the US Federal Reserve (Fed) and the European Central Bank...

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Gold prices rebounded to the significant level of $1,950 today after a sharp decline yesterday. The US Department of Commerce reported a core personal consumption expenditure (PCE) price index increase of 0.2% last month, following a 0.3% rise in May. This inflation growth aligns with economists' expectations. In the past 12 months, inflation has increased by...

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Last week, the Euro weakened against the US Dollar, signaling that the broader technical bias for EUR/USD remains bullish. This is because on the daily chart, EUR/USD dropped to a short-term uptrend support line from late June. The latter held last week, sustaining the uptrend. The next key support level is placed at the 38.2% Fibonacci expansion at...

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The price of precious metals remains steadfast at $1,950 while awaiting news from the Fed meeting. The meeting will take place on July 25th and conclude on July 26th (US time). The financial market is almost certain that the Fed will raise interest rates by 0.25% at this meeting. A strong breakthrough above $1,970 could trigger a push towards $1,985 and $2,000....

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Gold's recent rally is slowing down before important policy meetings of the US Federal Reserve, the European Central Bank, and the Bank of Japan. The Fed is likely to raise interest rates by 25 basis points, which could strengthen the US dollar and negatively impact gold. Depending on the Fed's statement, the dollar and gold may either stay within their recent...

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The rapid disappearance of precious metals' gains followed the release of positive US economic data that exceeded market expectations. Specifically, the US GDP in Q2 increased by 2.4%, surpassing economists' expectations of 1.8%. Additionally, the strength of the labor market is another factor that influenced the reversal of gold. The weekly jobless claims...

Florence_scalping Updated 

The gold market remains stable as the Federal Reserve increases interest rates by 25 basis points, bringing the Fed Funds rate to a range of 5.25% to 5.50%. This is the highest interest rate in 22 years. However, analysts note that the latest monetary policy statement essentially remains unchanged from the previous meeting, with a continued focus on reducing...

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The cryptocurrency market ended the week with some volatility, as altcoins traded mixed while Bitcoin held support near $29,400. Bitcoin remained range-bound between $29,200 and $29,700, with both bullish and bearish forces at equal strength, resulting in a stagnant price action. Stocks closed the final trading week of July on a positive note, as the Federal...

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Brent crude oil's relative strength index (RSI) has reached overbought territory, indicating a psychological resistance level of 85.00. The 200-day moving average has also been broken. It will be interesting to see how long this can be sustained amidst global growth concerns. Key resistance levels: 87.45 85.00 Key support levels: 82.38 80.00

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OANDA:EURUSD : Data from retail traders shows that 54.61% of traders are net buyers with a buy-to-sell ratio of 1.20. The number of net buyers is 9.88% higher than yesterday and 51.84% higher than last week, while the number of net sellers is 22.36% lower than yesterday and 36.83% lower than last week. We often have a contrarian view to market sentiment, and the...

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OANDA:EURUSD : Holds above crucial support EUR/USD remains above strong support levels on Wednesday, near the upward trend line from early June and close to the 200-period moving average on the 4-hour chart. However, it is too early to conclude that downward pressure has diminished - the pair needs to overcome the initial resistance level at 1.1150 from Monday....