Gold and silver prices rose during Tuesday’s lunchtime US trading session, with gold reaching a three-week high and silver reaching a four-week high. Fresh purchasing activity in the precious metals was sparked by reports on the consumer confidence index and the US jobs turnover data (JOLTS), both of which were …
Read More »Gold rose on retreating US dollar, T-yields before key data
Gold prices rose on Tuesday as a recent decline in the dollar and Treasury yields showed signs that the economy was overheating, ahead of crucial inflation and jobs data this week that could determine the future of interest rates. And by 0645 GMT, spot gold rose 0.2 percent to $ …
Read More »Gold: An Impulsive wave enhances the upward 29/8/2023
Positive trading dominated gold’s movements at the beginning of this week’s trading within the expected bullish path during the previous technical report, in which we relied on stability above the 1913 level, touching the first desired target of 1924, recording its highest level at $1925 per ounce. Technically, we find …
Read More »Gold price moves sideways as investors await key economic data
After a strong recovery, the price of gold has levelled out as investors look for new reasons to take action. At the time of writing, the precious metal is selling for $1921.51 per ounce. At the Jackson Hole Symposium, Fed Chair Jerome Powell reaffirmed that future policy decisions will be …
Read More »Gold rises as markets assess impact of US interest rate path
Gold prices rose Monday, August 28, despite US Federal Reserve Chairman Jerome Powell’s statements about the possibility of further rate hikes, as markets seek indications through economic data this week to draw a clearer picture of the path of interest rates. Spot gold rose 0.1% to $1,915.99 an ounce by …
Read More »Gold tries to recover 28/8/2023
Gold prices achieved an intraday break of the strong support floor published during the previous technical report at the price of 1913, explaining that the decline below the mentioned support level puts the price under negative pressure again, so we are awaiting the return of the official bearish trend, with …
Read More »Gold loses its luster with the rise of USD
Gold prices fell on Friday as the dollar rose to a ten-week high, but the precious metal was set to post its best performance in six weeks ahead of a speech by Federal Reserve Chairman Jerome Powell that could provide clues about interest rate movements. Gold futures fell 0.2 percent …
Read More »Gold needs a stronger signal 25/8/2023
Limited positive attempts dominated gold’s movements during the previous trading session. Still, it collided with the minor resistance level at 1922, which forced it to trade negatively to the downside. Technically, by looking at the 4-hour chart, the 50-day simple moving average still holds the price from below, supporting the …
Read More »Gold reaches its highest level in two weeks as Treasury yields decline
Gold prices rose to their highest levels in two weeks on Thursday, as a decline in the dollar and Treasury yields increased the appetite of investors for bullion, as they awaited clues about the path of interest rates during a meeting of central bankers in Jackson Hole. And by 0629 …
Read More »Gold starts attacking the resistance 24/8/2023
For several consecutive sessions, gold prices witnessed a sideways price range confined from below above the support level of 1885 and from above below the level of 1905, so that the transactions of the last trading session witnessed an upward rebound so that gold could initially breach the main resistance …
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