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 trades flat around $2,455 in Friday’s early Asian session. US July Retail Sales beat expectations, rising 1.0% MoM; Initials Jobless Claims fell 7K to 227K last week. The escalating geopolitical risks in the Middle East might cap the Gold’s downside. Gold price (XAU/USD) flat lines near $2,455 during the early Asian session on
XAU/USD Current price: $2,457.30 Financial markets welcomed US data pushing away recession-related fears. Stock markets are rallying with optimism, with US indexes challenging fresh weekly highs. XAU/USD holds within familiar levels, buyers still take their chances on dips. Spot Gold trades with modest gains in the American afternoon, having experienced some early volatility. XAU/USD fell
XAU/USD Current price: $2,443.88 The United States Consumer Price Index resulted marginally softer in July. Market participants keep beating the Federal Reserve will trim rates in September. XAU/USD could extend its slide once clearly below $2,438.80, a Fibonacci support level. The US Dollar started the day on the back foot, shedding ground against most major
Global markets are pricing a shift away from normalization cuts towards aggressive Fed easing, which is part of the story on the extraordinarily high correlations across markets over the last sessions, TDS senior commodity strategist Daniel Ghali notes. Gold positioning becomes tactically bearish “The positioning set-up in Gold markets is becoming tactically bearish. Macro fund positioning is not
Gold price posts modest gains around $2,465 in Wednesday’s early Asian session. The escalating tensions in the Middle East increase safe-haven demand, benefiting Gold. The US July Consumer Price Index report will be the highlight on Wednesday. Gold price (XAU/USD) trades with mild gains near $2,465 during the early Asian session on Wednesday. The upside of the yellow
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