Forex_Gold_EUR

Forex_Gold_EUR Updated 

Gold prices are currently encountering significant challenges in their attempt to surpass a crucial descending trendline that has been in place since May, as illustrated in the daily chart below. In the previous week, XAU/USD managed to reach the former ascending trendline originating from October after falling below it, but it struggled to regain ground above...

Forex_Gold_EUR

Gold prices remained in a holding pattern on Tuesday, with investors eagerly anticipating U.S. inflation data to gauge the outlook for interest rates, especially after the Federal Reserve left room for potential policy tightening. As of 0510 GMT, spot gold traded flat at $1,921.25 per ounce, while U.S. gold futures saw a 0.2% decline to $1,944.30. Market...

Forex_Gold_EUR

The British pound has stabilized at a base of $1.25, but remains near three-month lows as investors prepare for the release of a range of economic data, including the UK's monthly GDP and employment figures. . At the same time, there is a sense of caution surrounding next week's political conferences in the UK and US. Last week, Bank of England Governor Andrew...

Forex_Gold_EUR Updated 

* Wednesday's release of the U.S. Consumer Price Index (CPI) for August is highly anticipated, as it is poised to influence the Federal Reserve's interest rate choices in the upcoming months. * In preparation for their policy-setting meeting this month, Federal Reserve policymakers have been explicit on two fronts: They are not eager to raise interest rates, yet...

Forex_Gold_EUR

EUR euro dollar The stock rose 0.13% to $1.0714 after ending an eight-week losing streak on Friday. sterling pound dollar It rose 0.16% to $1.2486. GBPUSD SELL 1.2490 - 1.2510 🔼🔼 ✅TP1: 1.2460 🚫SL 1.2550

Forex_Gold_EUR Updated 

"Gold prices remain under pressure, with potential for further decline as traders factor in U.S. economic data and evolving expectations regarding U.S. monetary policy," stated Bas Kooijman, CEO of DHF Capital, in a recent email commentary. Gold futures settled at their lowest point since August 25th on Thursday. The decline continued from Wednesday, as strong...

Forex_Gold_EUR

The Bank of England will suspend interest rates after Bank of England Governor Andrew Bailey made comments suggesting interest rates were nearing a peak, Interactive Investor's head of investment Victoria Schorer said in a note. He said the pound was declining against the dollar on expectations. The dollar rose against the pound, she said, after...

Forex_Gold_EUR Updated 

"Gold Faces Increased Selling Pressure as Strong U.S. Economic Data Spurs Expectations of Prolonged Higher Interest Rates," according to Lukman Otunuga, Manager of Market Analysis at FXTM, as the U.S. ISM business conditions barometer for service companies climbed to 54.5% in August from 52.7%, marking the eighth consecutive reading above the 50% expansion...

Forex_Gold_EUR

Interactive Investor's head of investment Victoria Schorer wrote in a note that the Bank of England is expected to suspend interest rates after Bank of England Governor Andrew Bailey suggested rates were nearing a peak. said the pound was declining against the dollar. The dollar rose against the pound, she said, after better-than-expected U.S. services Purchasing...

Forex_Gold_EUR

Interactive Investor's head of investment Victoria Schorer wrote in a note that the Bank of England is expected to suspend interest rates after Bank of England Governor Andrew Bailey suggested rates were nearing a peak. said the pound was declining against the dollar. The dollar rose against the pound, she said, after better-than-expected U.S. services Purchasing...

Forex_Gold_EUR

On Thursday, gold remained below the $1,920 per ounce mark, sustaining its recent decline and contending with pressure from a surging U.S. dollar. This was prompted by stronger-than-expected U.S. services sector data that heightened concerns about inflation and potential interest rate hikes. In August, the ISM Services PMI in the United States unexpectedly surged...

Forex_Gold_EUR Updated 

Gold remained stable in Asian trading following its recent drop, which was driven by a resumption of the bond market selloff. The relationship between bond yields and both bond and gold prices is inversely correlated. According to Edward Moya, a senior market analyst at Oanda, there is potential for gold to benefit in the long term, particularly when the dollar,...

Forex_Gold_EUR

Gold prices experienced a nearly 0.7 percent decline on Monday, marking their worst 24-hour performance in over a month. As a response, retail traders reduced their bearish positions. This shift in sentiment is evident when examining IG Client Sentiment (IGCS), which often serves as a contrarian indicator. Given these developments, it raises the question of...

Forex_Gold_EUR Updated 

The price of gold continues to hover around the $1,940 mark as Tuesday's trading session unfolds. While market challenges persist, geopolitical factors have contributed to a decrease in volatility for this precious metal. Throughout 2023, U.S. real yields have steadily climbed, recently reaching a 14-year peak of over 1.90% at the 10-year maturity point. Real...

Forex_Gold_EUR

**Key Highlights:** - Spot gold retreated from its one-month peak reached on Friday. - Investors are closely monitoring speeches by Federal Reserve officials for potential interest rate signals. - NAB anticipates gold prices to trend upwards, targeting an average of $1,968 per ounce in the fourth quarter of 2023. Gold prices saw a slight decline on Tuesday as...

Forex_Gold_EUR

Gold prices remained subdued on Tuesday as investors were eagerly anticipating further signals about the state of the U.S. economy in anticipation of the upcoming Federal Reserve meeting later this month. This is due to the increasing expectations of a pause in interest rate hikes. - Spot gold was unchanged at $1,937.58 per ounce as of 0058 GMT, pulling back...

Forex_Gold_EUR Updated 

Gold prices advanced on Monday, approaching a one-month high achieved in the previous session. This upward movement was supported by a modest decline in the value of the US dollar and the anticipation that the US Federal Reserve may refrain from further interest rate hikes this year. Spot gold recorded a 0.3% increase, reaching $1,943.65 per ounce by 0724 GMT,...

Forex_Gold_EUR Updated 

Gold prices have maintained a more than 3 percent increase since mid-August. During this period, retail traders have consistently increased their bearish positions. A closer look at IG Client Sentiment (IGCS), which often serves as a contrarian indicator, reveals this trend. Given this information, the question arises: can the recent upward momentum in the gold...