In a thrilling turn, gold prices experienced a remarkable surge in last Friday’s trading session, far surpassing market expectations and reaching a pinnacle of success. The bullish trend, as anticipated in the previous technical report, not only met but exceeded its second official target of $2002, soaring to an impressive …
Read More »Financial Markets’ Weekly Recap
Last week, the US dollar demonstrated remarkable resilience, propelled upwards by robust growth indicators in the United States and an escalating demand for safe-haven assets triggered by mounting geopolitical tensions in the Middle East. The Israeli army’s limited incursions into the Gaza Strip stirred renewed concerns, leading to a surge …
Read More »Middle East tensions, US core PCE keep gold price stable
Gold price continued to consolidate after the US core PCE inflation reading remained in line with estimates. The downside in the gold price remains cushioned by escalating tensions in the Middle East.US Yellen sees Treasury yields elevated on Fed’s “higher for longer” interest rates outlook. Gold price trades back and …
Read More »Gold prices are heading for gains for the third week
Gold prices are heading for gains for the third week in a row on Friday, as conflict in the Middle East leads to investors increasingly seeking safe havens, despite US interest rates remaining high for a longer period. By 0341 GMT, gold in spot transactions rose 0.1 percent to $1,986.76 …
Read More »Gold maintains gains 27/10/2023
A gradual rise in gold prices within the positive outlook expected during the previous report reached the first official target required yesterday at $1994 per ounce, recording the highest price. Technically, and by looking at the 4-hour time frame chart, we find gold stable above the 1977 resistance level, represented …
Read More »Gold continues its gradual rise 26/10/2023
Positive trading dominated gold price movements yesterday, in line with the positive outlook expected in the previous technical report. In this report, we relied on the ability of the gold price to consolidate above 1977, heading towards the first official target of 1980. The metal recorded its highest level during …
Read More »Gold hits weekly high despite rising US bond yields
With a gain of over 0.56%, the price of gold has risen to a new weekly high of $1987.25. This is because US business activity is starting to pick up steam, as shown by September’s record-breaking new home sales and the S&P Global PMIs.The US 10-year Treasury bond yield has …
Read More »Gold rises amid declining US bond yields and Middle East tensions
Gold prices rose on Wednesday as US Treasury yields fell. Still, gains were reduced after signs of a cooling in safe-haven demand appeared after the United States and Russia led international calls to stop the fighting between Israel and the Palestinian Islamic Resistance Movement (Hamas). Gold rose in spot transactions …
Read More »Gold is trying to consolidate 25/10/2023
Gold prices reflected the expected upward trend during the previous technical report, in which we relied on trading stability above the strong support level of 1969 at the time of the report’s release. We explained that sneaking below 1969 postpones rising opportunities, leading gold towards 1958, posting its lowest level …
Read More »Gold price retreats as safe-haven status eases
Gold price struggles for a direction as investors seek fresh development on Israel-Hamas conflicts and crucial US economic data.The US Dollar and bond yields drop as investors await US Q3 GDP and the Fed’s preferred inflation gauge. The US Manufacturing PMI is expected to remain below the 50.0 threshold for …
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