Forex_Global

Forex_Global Updated 

After several attempts in the biggest rate hike campaign in history, the Fed's regular rate is now between 5.25% and 5.5%, the highest level since 2001. Experts say that gold will still find it difficult to find an upward momentum in the short term. However, the precious metal's decline will be capped by demand from the world's major central banks. A recent...

Forex_Global Updated 

Data from last week showed US growth edged higher in July after a steady decline this year, raising concerns that the US Federal Reserve (Fed) will be forced to raise interest rates further to limit the risk. even pressure mode. This perception sent the dollar higher, with the greenback hitting a more than one-month high on Monday. The strength of the USD opposes...

Forex_Global

In the context that US economic data cannot well support the Federal Reserve's decision to stop raising interest rates, experts say that the gold market is likely to be tested during the second half of the year. The rest go back to summer. However, analysts note, gold's short-term slight decline should be viewed as a buying opportunity as the precious metal...

Forex_Global Updated 

World gold prices today (August 14) fell slightly as US economic data continued to support the trend of tightening monetary policy of the US Federal Reserve (Fed). According to the latest report, in July 2023, the US CPI increased by 0.2% compared to the previous month. If so, in the same period last year, CPI increased by 3.2%, lower than the forecast of 3.3% of...

Forex_Global Updated 

Last week, I released the consumer price index (CPI) and July employment report. With the lowest unemployment rate in 54 years and the CPI continuously falling, many experts say the economy The US economy is likely to have a "soft landing" as expected by the US Federal Reserve (Fed). The above information also made the market forecast that the Fed might maintain...

Forex_Global Updated 

The Fed began steadily raising interest rates in March 2022 as inflation soared to its highest level in 40 years. In less than two years, the cost of borrowing he rose from 5.25% to 5.5%. Gold has outperformed most other major asset classes over the past 12 months, Melek said in a recent report, citing the yellow metal's resilience to rising interest rates and...

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Gold futures for delivery in December 2023 on the Comex New York exchange fell $9.3 or 0.47% to $1,950.6 per ounce. Gold continued to decline and fell to a 4-week low as pressured by another economic report from China that showed less consumer demand for goods and services, including the metal. type. According to the report, the world's second-largest economy...

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Gold prices traded at a one-month low on Thursday, while copper prices stabilized after a significant decline as markets contracted ahead of the release of key US inflation data later in the day. Yellow metals have fallen sharply over the past week under pressure from a stronger dollar and rising yields. Investors said they expect U.S. rates to stay elevated for...

Forex_Global

The gold price continues to cling to support levels near $1,950 an ounce as it struggles to attract the attention of bullish investors. However, one market strategist said precious metals continue to be well positioned given the declining status of the US dollar as a reserve currency. Willem Middelkop, founder and chief investment officer of the Commodity...

Forex_Global Updated 

Russia's finance ministry announced late last week that it would start buying back currencies and gold in August after 18 months of selling or sitting on the sidelines as Moscow looks to profit from recent high oil prices, according to a report. from Reuters. Russia ended a nearly year-long pause in foreign exchange interventions in January when it began selling...

Forex_Global Updated 

Gold markets exhibited choppy behavior during Monday's trading session, with prices hovering around the crucial 50-Day Exponential Moving Average. This technical indicator holds considerable significance for many traders, warranting close attention. Additionally, the psychological milestone of the $2000 level looms above, capturing the interest of market...

Forex_Global Updated 

Gold prices bounced back from 5-week bullish support to resistance, as did the 200 Exponential Moving Average (EMA), which was hovering around $1,950 at the time of writing. Confidence in the XAU/USD downtrend could be boosted by bearish signals from the Moving Average Convergence Divergence (MACD) indicator and the relative strength index (RSI) falling line that...

Forex_Global

The price of gold defended past a key support level last week (gold price technical read the analysis). However, the US Dollar Index (DXY) remains on the defensive near 102.00 after a strong start to the week, with Friday's strength in nonfarm payrolls (NFP) leading to a decline. But the US dollar strengthened early on Monday after becoming belligerent with...

Forex_Global Updated 

Analysts said that the gold price has not shown any signs of recovery as investor sentiment is being pressured by the jobs report, as well as the distribution of a strong dollar and high bond yields. Experts said that the US jobs report may affect the policy stance of the US Federal Reserve (Fed). In addition, independent analyst Ross Norman said that gold prices...

Forex_Global Updated 

Analysis: As the 4th wave (4) develops and the 5th wave (5) is forming, the daily chart may see a further downward correction. Clearly, the first wave of (5) has formed and the H4 chart completes the bearish correction as the second wave of (5) 2. Probably the 3rd wave 3 of (5) is underway. The first reverse trend wave of 3 with minor frequency i develops on the...

Forex_Global

Gold prices attracted some selling after an early surge to around $1,946 during Monday's Asian session, but fell to new daily lows in the past hour. The XAU/USD rate is currently trading near $1,940 levels, so far the slow recovery from Friday's low since July 11 appears to have stalled. The much-watched US monthly employment report showed that the economy...

Forex_Global Updated 

Gold continued its retreat, falling to new retracement lows before finding support at 1,929. Today's decline has completed a 61.8% Fibonacci retracement. It will become clear what happens next. Below today's lows, gold will move towards potential support near the lower uptrend line along the 127.2% Fibonacci extension of the descending ABCD pattern near 1,922....

Forex_Global

Weekly Reversals Needed to Restore Bulls Confidence A potential bullish reversal is first signaled by a move above today's high of 1,939, followed by a daily close above the 100-day EMA. After that, a move above Thursday's high of 1,955 further confirms the strength. A weekly bullish reversal will trigger a move above the weekly high of 1,972. Notice that the...