Gold price trades with a negative bias for the fifth straight day amid smaller Fed rate cut bets. A modest USD downtick, along with geopolitical risks, could offer support to the XAU/USD. Traders look to the FOMC minutes and the US inflation figures for a fresh directional impetus. Gold price (XAU/USD) attracts some sellers for
Gold price trades with a negative bias for the sixth straight day amid smaller Fed rate cut bets. Hopes of a possible Hezbollah-Israel ceasefire further undermine the safe-haven commodity. Traders now look to the FOMC minutes for short-term impetuses ahead of the US inflation figures. Gold price (XAU/USD) fell nearly 1.5% intraday and touched a
Gold is rising as markets digest disappointing Nvidia earnings, now a macro event given the company’s size and importance. A revival of Chinese demand for the precious metal further supports the price. Technically, XAU/USD trends sideways, with odds still favoring an eventual break higher given the broader uptrend. Gold (XAU/USD) trades about half a percent
Gold drops 0.70% to $2,504 as US Dollar strengthens and Treasury yields rise following Powell’s dovish policy comments. DXY up 0.60% to 101.15, propelled by rising 10-year Treasury yield at 3.841%, challenging non-yielding assets like Gold. Market anticipates key US data: GDP estimates, Initial Jobless Claims and core PCE inflation gauge this week. Gold sees
Gold price extends its rally in Wednesday’s Asian session. The deteriorating situation in the Middle East and the Fed’s dovish stance underpin the Gold price. Traders await the speeches from the Fed’s Waller and Bostic on Wednesday. The Gold price (XAU/USD) gains traction above $2,500 per troy ounce on Wednesday, bolstered by the escalating geopolitical
Gold rises in risk-on setting, shrugging off robust US data as the US Dollar hits a 12-month low. Powell’s dovish remarks keep US Treasury yields stable, pressuring the US Dollar and boosting Gold. Focus shifts to upcoming core PCE and job data, crucial for Fed decisions; rate cut prospects bolster Gold. Gold prices advanced firmly
Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to
Gold pulls back after breaking to new all-time highs at the end of last week. Talk of the US economy giving “warning signals” on Friday drove safe-haven flows into the precious metal, pushing it to new highs. From a technical point of view, Gold is overbought and at risk of a correction although overall it
Gold has corrected back from chart resistance in the $2,470s after the release of strong US retail sales data. Lower US initial jobless claims brought more positive news about the US economy, helping to dispel recession fears. The precious metal is probably unfolding a leg down within a sideways trend. Gold (XAU/USD) swings between mild
Gold price failed to build on the overnight positive move in the wake of the upbeat US data. Easing US recession fears boost investors’ confidence and contribute to capping the metal. Geopolitical risks and bets on an imminent start of the Fed’s rate-cutting cycle lend support. Gold price (XAU/USD) attracted some dip-buying near the $2,432