Gold prices recovered some of their losses on Monday, but the strength of the dollar and fears that the Federal Reserve may continue to raise interest rates kept the yellow metal below the key level of $ 1900 an ounce. And by 0540 GMT, spot gold rose 0.6 percent to …
Read More »Gold gives up its gains 6/2/2023
Gold prices ended last week’s movements on a noticeable decline, after the issuance of better-than-expected US employment data, supporting the US dollar over gold’s interest. Technically, and with a closer look at the 240-minute chart, we find that gold prices are currently stabilizing below the strong demand area 1900, accompanied …
Read More »Financial Markets’ Weekly Recap, 29 Jan-3 Feb
Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …
Read More »Gold rose slightly as investors awaited the US jobs report
Gold prices settled in a narrow range on Friday, as cautious investors assessed the statements of global central banks and awaited the US Nonfarm Payrolls report. After losing nearly two percent in the previous session, spot gold rose 0.2 percent to $1915.42 an ounce by 0930 GMT. US gold futures …
Read More »Dollar rose as investors awaited US jobs data
The dollar rose slightly on Friday to maintain some momentum, after jumping in the previous session following a series of decisions by central banks in Europe. Trading was relatively subdued as markets awaited the release of the latest US jobs data later in the day, which could change Federal Reserve …
Read More »Gold stabilizes after heavy selling, but is heading for a weekly decline
Gold prices stabilized on Friday after heavy selling in the previous session, as traders absorbed the statements of global central banks regarding raising interest rates, but the yellow metal is heading to record its first weekly decline in seven weeks in light of the strength of the dollar. And by …
Read More »Gold price gives up Wednesday’s gains on BoE, ECB decisions
Gold seems unable to benefit from the falling US Treasury. On the other hand, the US dollar recovered some ground, on the back of the Euro and Pound Sterling fall. On Wednesday, the US Federal Reserve hiked rates by 25 bps and signaled it is about to end its cycle. …
Read More »Gold crushes the US dollar 2/2/2023
Gold prices finished the bearish correction referred to during the last analysis, during which we targeted to touch 1907 levels, to start a bullish rebound, taking advantage of the US currency’s decline after the Federal Reserve’s decision regarding interest rates. On the technical side today, we tend in our trading …
Read More »Market Drivers On Fed’s Day – US Session 01/02/2023
The US Dollar weakened after the US Fed’s monetary policy decision. The FOMC policymakers decided to hike rate by 25 basis points in line with wide expectations. The FOMC statement indicated that policymakers changed the wording on inflation, noting that it “has eased somewhat but remains elevated,” although there were …
Read More »Gold, Silver Rally Following FOMC’s Rate Decision
Gold and silver prices are higher closer to daily highs in afternoon US trading session on Wednesday, following a broadly expected small interest rate hike by the US Fed.Gold is trading at 1950.14 at the time of writing. April gold was up $15.30 at $1,960.40 and March silver was up …
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