Gold reversed from two-day highs and is back near weekly lows. US dollars rises across the board following comments from Portugal. Gold prices dropped sharply during the American session, erasing daily gains. XAU/USD peaked at $1833, the highest level in two days and then turned lower, falling to $1814, slightly above the daily low of … Read more
Gold continued to push lower and touched its lowest level in nearly two weeks at $1,816 because the US dollar appreciated noticeably. This trend is set to continue on Wednesday, strategists at Commerzbank report. ECB Lagarde rejected the idea of raising interest rates by 50 bps in July “The continued strength of the dollar today … Read more
The United States will prohibit Russian gold imports in the latest round of sanctions, the Treasury Department announced on its website on Tuesday, as reported by Reuters. Additional takeaways “US imposes Russia-related sanctions on dozens of entities and individuals.” “Latest sanctions target Russia’s state-owned defense conglomerate Rostec and affiliated entities.” “Latest sanctions target multiple banks … Read more
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
Gold price has given an upside break of $1821.25-1,831.87 as G7 bans Russian gold exports. Gold exports are the second largest revenue generation source for Russia. Lower expectations from the US economic data have weakened the DXY. Gold price (XAU/USD) has climbed above $1,836.00 after overstepping Friday’s high at $1,831.87. The announcement of a prohibition … 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 price is expected to display an upside movement above $1,830.00. A downbeat performance looks likely from the US Durable Goods Orders. The gold prices are expected to display a lackluster performance on a symmetrical triangle formation. Gold price (XAU/USD) has displayed topsy-turvy moves in a range of $1,821.88-1,831.87 on Friday. The precious metal is … 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
Here is what you need to know on Friday, June 24: Bond yields continue to look more accommodative for equities, and this equity rally continued yesterday with the sell-off in bond markets. This sell-off has taken place despite an overdue hawkish Fed. Bond markets now feel a recession is odds on and are scaling back … 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