Gold prices rose on Friday to maintain its rising trend for the third consecutive week, amid increased demand for safe havens due to concerns about the economic recovery. A decline by the U.S. Dollar (USD) across the board also provided support to the yellow metal amid a decline in the …
Read More »Gold Heading For Its Third Weekly Gain Due to Lower Yields And Virus Fears
Gold rose in volatile trading Friday, July 9, heading for gains for the third consecutive week, as the safe-haven allure of the yellow metal was boosted by concerns about the fast-spreading delta smoothing from Covid-19 and a drop in US Treasury yields. Spot market rose 0.1% to $ 1803.92 an …
Read More »Gold Looking For Clear Signals
Mixed trading dominated gold prices during the previous trading session, to find the price stable between 1797 and 1815. Technically, and carefully looking at the 4-hour chart, we find the 50-day moving average holding the price from below, in addition to the stability of the intraday trading above the strong …
Read More »Gold Logs First Loss in Six Sessions
Gold prices declined on Thursday, snapping a five-session rising streak, amid increasing selling pressures with investors adjusting their positions amid losses by the U.S. Dollar (USD) and stocks markets. Given the recent rises, selling pressures might have also resulted from profit-making. Gold futures for August delivery lost $1.90, or 0.1%, …
Read More »Gold Rises, Awaiting Data
Gold fell in Thursday morning in Asia as investors continued to digest the US Federal Reserve’s meeting minutes from the latest policy meeting. A stronger dollar and lower US Treasury yields also limited the yellow metal’s gains. However, the US dollar index and bond yields fell at the beginning of …
Read More »Gold Trading Negatively
The prices of the yellow metal declined noticeably at the beginning of this week after it failed to breach the resistance level of 1815, which is our target to be achieved during the previous report. On the technical side today, and looking at the 4-hour chart, we tend to trade …
Read More »Gold Maintains Gains for Fifth Session in Row
Gold prices maintained an upwards trend for the fifth consecutive session on Wednesday, despite the rise of the U.S. Dollar (USD) across the board. However, the yellow metal was supported by the drop in U.S. Treasury bond yields to their lowest level since February, amid higher demand for safe-haven investments, …
Read More »Gold Prices Rise, Supported by Lower US Bond Yields
Gold prices consolidated on Wednesday, July 7th, near the psychologically important $1,800 an ounce level, supported by lower US Treasury yields, while investors awaited the minutes of the Federal Reserve’s June meeting for more indications on its monetary policy outlook. Spot gold rose 0.1% to $1,797.84 an ounce, after hitting …
Read More »Gold Finishes Higher Following PMI Data
Gold prices finished higher on Tuesday after PMI data showed continuous expansion in the U.S. services sector but at a slower pace in June after recording a new high in May. A drop in the U.S. Treasury bond yields also provided support for the yellow metal, as the 10-year and …
Read More »Gold is consolidating above $1800
Gold prices rose 1% on Tuesday after it crossed the $1,800 barrier, supported once again by a weak dollar, as investors’ eyes turned to the minutes of the Federal Reserve’s June meeting to elicit more indications about the monetary policy decision. Spot gold rose 0.8 percent to $1,805.51 an ounce …
Read More »