XAUUSD to extend its decline amid firmer dollar – Commerzbank

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

XAUUSD lifts to $1820s from weekly lows on falling US Real yields, and a soft greenback

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

XAUUSD surrenders modest recovery gains, flirts with one-week low

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

XAU/USD sees exhaustion around $1,820 after a downside move, DXY skids

Gold price is expected to rebound as a retest of Wednesday’s low shows a loss of downside momentum. The hawkish commentary from Fed Powell has put the gold prices on tenterhooks for a prolonged period. The DXY is performing lackluster on the downbeat US PMI. Gold price (XAU/USD) is hoping for a rebound as the … Read more

XAUUSD jumps to fresh daily high, bulls await move beyond 200-DMA

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

XAU/USD eases below $1,850 as traders await US PMI, Fed’s Powell

Gold fades bounce off weekly low, takes offers to refresh intraday low. Market sentiment dwindles after Fed’s Powell defends current monetary policy outlook. Yields remain pressured, stock futures print mild losses amid lack of clarity. Powell’s Testimony 2.0, US PMIs for June will be important to watch for fresh impulse. Gold Price (XAU/USD) remains on … Read more

Recession and inflation, the perfect storm

What you need to take care of on Thursday, June 23: The dollar finished Wednesday against most major rivals, although the slide was limited. Most major pairs remain within familiar levels, with volatility limited. The main event of the day was US Federal Reserve chief Powell’s testimony before Congress. Powell kick-started his speech, saying that … Read more

XAU/USD drops below $1,830 as uncertainty over Fed Powell’s testimony soars

Gold prices have extended their losses after slipping below the cushion of $1,830.00. Fed Powell’s testimony is expected to be extremely hawkish considering the runaway inflation rate. The EU is supposed to ban gold trading from Russia. Gold price (XAU/USD) has extended its losses in the Asian session after violating the critical support of $1,830.00. … Read more

XAU/USD eases below $1,850 inside falling wedge, Fed’s Powell eyed

Gold holds lower grounds inside a bullish chart pattern. Risk appetite weakens amid pre-Powell anxiety, yields, S&P 500 Futures pare recent gains. Powell’s ability to justify the biggest rate hike since 1994 could favor XAU/USD bears. Gold (XAU/USD) prints mild losses around $1,830 as sour sentiment weighed on the precious metal during Wednesday’s Asian session. … Read more