Gold bears move in despite weakness in the US dollar. Bulls lurking in familiar support, eyes towards $1.840s. Gold is under pressure despite the weakness in the US dollar. At $1,823, the price is down by some 0.23% while the US dollar is also underwater, currently down by 0.18%. The greenback has struggled versus its … Read more
Here is what you need to know on Monday, June 27: The US Dollar Index stays relatively quiet near 104.00 early Monday after having closed the previous week modestly lower. US stock index futures trade flat on the day as focus shifts to May Durable Goods Orders data. Pending Home Sales and the Dallas Fed … Read more
Gold fades bounce off one-week low, reverses from 2.5-month-old resistance line. Sour sentiment can renew US dollar demand amid calls for faster rate hikes. Concerns surrounding China, Russia adds strength to the risk-off mood. Key central bankers’ debate at ECB Forum will be crucial for fresh impulse. Gold Price (XAU/USD) retreats to $1,830 while reversing … Read more
Gold is headed for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year TIPS yields and a softer US dollar are a tailwind for Gold prices. Gold Price Forecast (XAUUSD): Gold is neutral-downward biased. Gold spot (XAUUSD) bounces off weekly lows near $1816, recovering some ground in the week, … Read more
Silver dropped to a six-week low on Friday, confirming a bearish break below the $21.00 mark. Any meaningful recovery attempt could be seen as a selling opportunity and remain capped. The XAG/USD now seems vulnerable to weaken further below the $20.00 psychological mark. Silver reversed a knee-jerk slide to a six-week low and was last … Read more
Gold struggled to capitalize on its attempted intraday bounce from over a one-week low. The risk-on impulse, rising US bond yields, hawkish Fed expectations acted as a headwind. Modest USD weakness could lend support to the metal and help limit any further losses. Gold staged modest recovery from the $1,821 area, or over a one-week … Read more
Here is what you need to know on Friday, June 24: Major currency pairs fluctuated in relatively tight ranges throughout the week as investors tried to figure out how central banks will continue to battle inflation in the face of heightened recession risks. The European economic document will feature the IFO business sentiment data for … Read more
Considering preliminary readings from CME Group for natural gas futures markets, open interest extended the downtrend on Thursday, this time by around 11.3K contracts. Volume, on the other hand, remained erratic and increased by around 145.3K contracts. Natural Gas seems ready for a bounce Prices of natural gas lost further ground on Thursday and dropped … Read more
The white metal remains on the defensive and dives more than 2% on Thursday. Fed officials backed further rate hikes, though Fed chair Powell acknowledged that the US might get into a recession. Silver Price Forecast (XAG/USD): Stays downward biased, and a break below $21.00 might pave the way for fresh YTD lows. Silver (XAG/USD) … Read more
Gold attracted some dip-buying in the vicinity of the weekly low and shot to a fresh daily high. The ongoing slide in the US bond yields capped the USD and offered support to the commodity. Hawkish Fed expectations might hold back bulls from placing aggressive bets around the metal. Gold reversed an intraday slide to … Read more