Forex_Gold_EUR

Forex_Gold_EUR

In the GBP/USD market, retail trader data reveals that 49.62% of traders are holding long positions, resulting in a short-to-long ratio of 1.02 to 1. Notably, traders have maintained a net-short position since August 17 when GBP/USD was trading around 1.27, and the price has since decreased by 0.10%. Comparatively, the number of traders with long positions is now...

Forex_Gold_EUR Updated 

Gold prices showed strength on Thursday, buoyed by recent weak U.S. economic data, which has increased speculation that the Federal Reserve might delay further rate hikes this year. However, a simultaneous surge in Treasury yields and a stronger dollar have kept gold on course for a monthly decline. Here are the key details: - **Spot gold** rose by 0.2% to reach...

Forex_Gold_EUR

Gold prices held steady near their one-month highs on Thursday, bolstered by fresh disappointing U.S. economic data, which has increased expectations of a Federal Reserve pause in rate hikes this year. However, the outlook might change depending on the inflation figures scheduled for release later in the day. - **Spot gold** was up 0.2% at $1,945.40 per ounce. -...

Forex_Gold_EUR Updated 

On Wednesday, the price of gold remained close to its highest point in three weeks, following less-than-impressive U.S. job openings and consumer confidence data. This data has reduced expectations of interest rate hikes by the Federal Reserve for the remainder of the year. - Spot gold maintained its position at $1,936.59 per ounce as of 0115 GMT, trading near...

Forex_Gold_EUR

The British Pound is currently contending with a bearish Head & Shoulders chart pattern against the US Dollar. In the daily chart depicted below, GBP/USD is facing difficulty in surpassing the neckline situated at 1.2592. Furthermore, there's a struggle for sustained momentum following the breach of the 100-day Moving Average (MA). A definitive break below 1.2592...

Forex_Gold_EUR

* On Tuesday, U.S. Treasury yields declined to their lowest levels in three weeks following this data release, while the value of the dollar weakened. This depreciation in the dollar made gold more affordable for holders of other currencies, consequently boosting demand for the non-interest-bearing precious metal. * The month of July witnessed U.S. job openings...

Forex_Gold_EUR Updated 

Gold prices in early Asian trading have inched higher. Analysts from Ping An Securities attribute this uptick to increased demand for the safe-haven asset, driven by the release of weak August manufacturing PMI data in the U.S. last week. However, the precious metal's performance may face downward pressure as U.S. initial jobless claims for the week ending August...

Forex_Gold_EUR

Gold prices advanced on Tuesday as both the dollar and Treasury yields pulled back from recent highs, with investors eagerly awaiting crucial U.S. inflation and jobs data releases this week that could significantly shape the trajectory of interest rates. **Specifically:** - **Spot Gold:** As of 0354 GMT, spot gold climbed by 0.3%, reaching $1,924.84 per ounce....

Forex_Gold_EUR

**XAU/USD Daily Chart Analysis** Looking at the daily chart, gold has cautiously moved higher, surpassing the 38.2% Fibonacci retracement level at 1903.46. This development has shifted the focus towards a descending trendline from earlier this year. This trendline has the potential to re-establish a bearish sentiment, possibly pushing XAU/USD back towards the...

Forex_Gold_EUR Updated 

Gold prices have stayed relatively high on this Monday morning, partly due to a slight dip in the value of the US dollar. Although Fed Chair Jerome Powell and other officials, including Mester, hinted at the possibility of further monetary policy tightening if needed, the prevailing trend in economic data suggests that interest rates might stay unchanged for a...

Forex_Gold_EUR

According to a research report by Quek Ser Leang, a market strategist at UOB Global Economics & Markets Research, there is potential for further decline in the EUR/USD based on technical analysis. In the previous week, the currency pair broke below the July low of 1.0832 and briefly fell below the 55-day exponential moving average, which was around 1.0790 at the...

Forex_Gold_EUR

Gold prices have seen a modest increase in early Asian trading. Nonetheless, ANZ analysts express concern that the precious metal might face downward pressure due to Federal Reserve Chair Jerome Powell's resolute stance at the Jackson Hole symposium last Friday. Powell, in his remarks, maintained a hawkish tone and hinted at the possibility of further tightening...

Forex_Gold_EUR

Over the past 24 hours, the British Pound has reached its lowest point against the US Dollar since mid-June, experiencing a nearly 1% drop, marking the most substantial 24-hour decline since late July. Consequently, retail traders have begun to increase their bullish positions. This shift in sentiment can be observed through the IG Client Sentiment (IGCS), which...

Forex_Gold_EUR Updated 

On Thursday, gold prices concluded with a minor decline, marking their first drop in five consecutive sessions. This dip coincided with a strengthening dollar and rising Treasury yields, all preceding an eagerly awaited speech scheduled for Friday by Federal Reserve Chair Jerome Powell. The price of gold for December delivery decreased by $1.00, settling at...

Forex_Gold_EUR Updated 

"Saxo Bank Highlights Intense Focus on Fed Chair Powell's Speech for Long-Term Policy Clues Over Near-Term Signals" The dollar exhibited significant strength early on Thursday, resulting in increased costs for international buyers of gold. The ICE dollar index, as of the latest data, had risen by 0.51 points to reach 103.93. Simultaneously, Treasury yields...

Forex_Gold_EUR

The US dollar was in a weakened position against Asian currencies on Thursday. This came in response to global economic data that was less robust than anticipated, which created uncertainty around the future direction of interest rates and led to a decline in US yields. These developments occurred in anticipation of the Federal Reserve's Jackson Hole...

Forex_Gold_EUR Updated 

Gold prices remained close to their highest point in two weeks on Thursday, driven by a decline in the U.S. dollar and Treasury yields. Investors were in a state of anticipation, eager to decipher the interest rate signals that the U.S. Federal Reserve might reveal during its annual Jackson Hole meeting. Key Points: - Spot gold was up 0.2% at $1,917.50 per ounce...

Forex_Gold_EUR

On Thursday, the price of gold advanced to approximately $1,920 per ounce, marking a continued recovery from its five-month lows. This upturn was prompted by business activity data in major economies, which turned out to be weaker than expected. This raised hopes among investors that central bankers might reconsider their plans for interest rate hikes in order to...