The world’s largest economy is grappling with rising inflation levels. Per the latest Labour Department report, the Consumer Price Index (CPI) jumped 8.5% year over year in March, reaching the highest level since December 1981. The reading also surpassed the already high Dow Jones estimate of 8.4%. The high inflation …
Read More »Gold Holds Gains, Hovers Around $1,980
Gold holds in fresh bull-cycle highs in the midday New York session. The Gold Price is being supported amid continued demand for inflation protection in wake of the latest CPI/PPI data. Geopolitical tensions also remain higher and the prospects of Russo-Ukraine peace remain poor, underpinning the Gold Index.Gold price has …
Read More »Gold continues to rise 13/4/2022
Gold prices jumped during the previous trading session after we stayed on the fence, explaining that we are waiting for a new signal to continue the upside and breach of 1960 increases and accelerate the strength of the bullish trend, targeting 1978 to record gold at its highest level at …
Read More »Market Drivers – US Session – 12 April
The US dollar shed ground ahead of the release of US inflation figures, later recovering somewhat to close the day unevenly. The dollar is stronger against the shared currency, as EUR/USD trades around 1.0830, not far from the year low at 1.0805.Economic DataThe annual rate of US inflation, as per …
Read More »Gold touches the target 12/4/2022
Positive moves dominated gold prices during the first trading sessions after it succeeded in liberating from the sideways path so that gold could breach the 1940 strong supply zone, touching the first official target required during the previous analysis. Technically, we tend to the positivity, relying on the stability of …
Read More »Market Drivers – US Session – 11 April
The market sentiment was sour at the beginning of the week, with the US dollar initially falling but later recovering against its major rivals. Demand for safety pushed USD/CHF lower, to the 0.9300 region, and gold higher, as the precious metal trades around $1,950 per ounce.Economic DataBritish stocks ended lower …
Read More »Gold Index at key $1,970 resistance, busy week ahead
At $1,947, the gold price is underwater in mid-New York Trade. The price hs range traded between a high of $1,970.02 and a low of $1,940.03 on the day so far. Traders have already seen good volatility in financial and commodity markets owing to the French elections, the ongoing crisis …
Read More »Palladium jumps 5% on supply concerns, inflation risks lift gold prices
On Monday, palladium prices jumped 5 percent to their highest level in more than two weeks, driven by supply concerns after trading of the metal was suspended from Russia, while gold prices increased due to inflation tension caused by the war in Ukraine. Palladium rose 4.5 percent to $ 2534.40 …
Read More »Gold breaks out of the sideways range 11/4/2022
After several consecutive sessions of our commitment to neutrality, waiting for the gold price to exit the sideways range between 1925 and 1940, explaining that activating purchase orders depends on gold’s ability to penetrate 1940 to target 1948, recording its highest price last Friday’s transactions 1948. From the angle of …
Read More »Gold is trying to bounce back 8/4/2022
Gold prices are trying to record rebound attacks to the upside, but without change, and are trading within a sideways range, as we indicated in the previous analysis, confined between 1925 support level and 1940 resistance level, which managed to cap gold’s gains during yesterday’s session, recording 1940, unable to …
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