The US dollar’s rally and the drop in equity prices continue to be in the spotlight. The New Zealand NZD Business Confidence survey and Australian retail sales are two important readings to be watched during the Asian session. Later, attention will turn to Spain’s and Germany’s early September inflation data. …
Read More »Could gold fall further in 2023?
Gold is trading at $1877.54 per ounce at the time of writing, down by some -1.22%. traders are worried that the precious metal could fall further in the remainder of 2023. It is worth noting that gold demand in China has surged in 2023, with a 16% increase compared to …
Read More »Gold confirms breaking support 27/9/2023
Gold prices achieved the official target published during the previous technical report, explaining that breaking the main support floor for the current trading levels of 1913 led the price to visit 1903, recording its lowest level at $1899 per ounce. Technically, today, by looking at the 4-hour chart, we find …
Read More »Gold pushed lower below $1900, on higher rate bets, soaring T-yields
On the background of accelerating interest rate bets and amid skyrocketing Treasury yields, as well as the Federal Reserve’s conviction that interest rates will stay high for a considerable amount of time, gold prices have declined around $1900. At the time of writing, the precious metal is trading at $1899.90 …
Read More »Gold begins to press on the main support 26/9/2023
We remained neutral for the second session in a row, explaining that we are waiting for gold prices to release from the sideways range confined from the bottom above 1913 and from the top below 1930. Technically, today we find that gold prices have begun to put pressure on the …
Read More »Market Drivers – US Session, September 25
Metals retreated during the US session, with gold falling below $1,920 and moving closer to the $1,915 support region. At monthly highs, the US Dollar Index is just beyond the 106.00 range. On Tuesday, there are no economic events scheduled for the Asian or European sessions. The US will release …
Read More »Gold is struggling to hold on to $1,915
Gold buyers are finding it difficult to maintain $1,915.00 for Monday. The Gold Index is tumbling to new lows due to a strong US dollar. Analysts predict that Gold will hit $2,200 by the end of the year, but there are still policy risks. On Monday, gold fell further, hitting …
Read More »Gold is waiting for a new signal 25/9/2023
During the previous technical report at the end of the trading week ending last Friday, we adhered to momentary neutrality until we got rid of the confined side range from the bottom above 1913 and the top below 1930. On the technical side today, we find gold prices hovering around …
Read More »Financial Markets’ Weekly Recap, September 18-22
The first interest rate cut in the USA is now expected in July 2024, pushed out from the June rate cut priced in before. The Fed’s updated economic outlook shows that the US economy has held up better than expected, with a modest cooling to 1.5% annual growth in 2024 …
Read More »Market Drivers – US Session, September 22
US stocks experienced a fourth consecutive day of losses and even closed as one of the worst weeks since March 2023, with the Dow Jones dropping 0.31% to 33,963.84. The S&P 500 and Nasdaq slipped 0.23% and 0.09%, respectively. Ford ended the day up 1.9% after a source reported progress …
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