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
Gold price regains some positive traction following the overnight post-US CPI decline. Persistent geopolitical risks and Fed rate cut bets continue to offer support to the metal. A modest USD uptick and a positive risk tone could act as a headwind for the XAU/USD. Gold price (XAU/USD) witnessed an intraday turnaround from the vicinity of
Gold price trades with modest losses for the second straight day amid a positive risk tone. Geopolitical risks, bets for bigger Fed rate cuts and subdued USD demand to lend support. Traders might also prefer to wait for the release of the crucial US consumer inflation data. Gold price (XAU/USD) attracts fresh sellers following an
Gold surges 1% as US Treasury yields retreat ahead of key CPI data, with the 10-year yield down to 3.902%. Ongoing tensions in the Middle East, with no ceasefire in sight, drive demand for Gold’s safe-haven status. Traders await critical US inflation and Retail Sales reports with Fed commentary signaling cautious optimism on disinflation. Gold
Gold price slides below $2,400 after profit-booking but holds ground on multiple tailwinds. The Fed is expected to cut interest rates by more than 100 bps this year. The US Dollar falls near the March bottom, and bond yields post fresh annual lows. Gold price (XAU/USD) exhibits sheer weakness performance despite deepening geopolitical tensions and growing fears of