At $1,850.06, the gold price is 0.45% higher and trading between a low of $1,837.06 and a high of $1,853.63 on the day so far. The markets are fairly volatile as traders weigh the indecisive outlook for global growth, the latest of which comes from the World Bank.”Global economic growth …
Read More »Gold rises with growing economic concerns
Gold prices rose on Tuesday as investors feared the repercussions of central banks’ plans to tighten monetary policy, but rising US bond yields, which supported the dollar, limited the gains. The price of gold increased 0.2 percent in spot trading, recording $1845.20 an ounce by 0842 GMT, recovering after touching …
Read More »Gold stabilizes as central banks prepare to hike rates
Gold prices settled near one-week lows on Tuesday as investors expected central banks’ plans to tighten monetary policy to keep interest rates high for an extended period, which in turn would raise US bond yields and the dollar. The price of gold did not witness little change in spot trading, …
Read More »Gold under negative pressure 7/6/2022
Negative trading dominated gold prices during the first trading sessions of this week after it failed to maintain trading above the 1850 support level, explaining today that the attempt to break 1848 puts the price under negative pressure, with its target located around 1832 to be satisfied recording at law …
Read More »Market Drivers – US Session – Monday 6 June 2022
The market sentiment dramatically changed from optimism during Asian trading session into pessimism during the US session. The early positive mood was on the back of hopes that the global economic situation would start improving after Beijing continued easing coronavirus-linked restrictions.The sentiment deteriorated after the bell on Wall Street, as …
Read More »Gold Price Reacts To Treasury Yields’ Jump
Gold price sharply pulled back during the US trading session as a reaction to the stronger US dollar and the jump of higher Treasury yields. The precious metal’s price slid to $1841, retreating to its lowest level since Wednesday.The Gold Index recorded a daily high after the beginning of the …
Read More »Gold is consolidating near high levels
Gold prices rose slightly on Monday, supported by a slight decline in the US dollar and US Treasury bond yields, but the outlook for the yellow metal price remained fragile in the face of interest rate hike prospects from major central banks. Spot gold rose 0.2 percent to $1,854.83 an …
Read More »Gold is building on support 6/6/2022
Gold prices declined significantly at the end of last week’s trading, under pressure from the rise of the US currency, to find that gold succeeded in retesting the 1850 level, recording its lowest level at 1848 after recording the highest at 1874. Technically today, and by looking at the 4-hour …
Read More »Financial Markets’ Weekly Recap, 30 May: 3 June
Around the end of 2021, nobody was talking about a US recession, but now, the dreaded ‘recession’ word is on everybody’s lips. During the week, Tesla CEO Elon Musk voiced this fear using the “super bad feeling” phrase about the US economy. “Lots of luck on his trip to the …
Read More »Gold Seeks Next Direction Post NFP Data
Gold prices immediately retreated after the latest official US labour market data, which revealed 390K jobs were added in May, more than the expected 325K. Markets witness a hawkish reaction to the data, with US Treasury yields and the US dollar rising. The yield on the US 10-year note was …
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