Gold prices rose on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week for more clues on the Federal Reserve’s stance on raising interest rates. By 0628 GMT, spot gold rose 0.3 percent to $1,769.74 an ounce. US futures also …
Read More »Market Drivers – US Session – Wednesday, August 3
US indexes surged, capping the safe-haven dollar’s demand, partially helped by strong Q2 corporate earnings reports and encouraging local data.Commodity-linked currencies, on the other hand, benefited from Wall Street’s strength. AUD/USD trades around 0.6950 while USD/CAD is marginally lower at 1.2840.The EUR/USD pair trades around 1.0160, as tepid European data …
Read More »Gold trades around $1770, eying $1,800 amid Taiwan’s row
At the time of writing, gold trades at $1767.5 per ounce. Gold has been back under pressure as US yields spike, but bulls are eying the $1800 level. There is room for further upside with the 68.2% Fibonacci meeting prior weekly structure around $1,800. Markets are cautious over US-China row …
Read More »EUR/USD rebounds back as US yields retreat
The US dollar loses some of its earlier shine late on Friday amid lower US yields. The EUR/USD pair practically flat for the week and remains sideways.Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the US session at 1.0145 and then …
Read More »Gold looking forward to $1770
Gold trades at $1768 per ounce at the time of writing. The Gold Index rebounds after hitting a fresh low, at the same time, US yields erase earlier gains, back near recent lows. Gold prices benefited from Friday’s weaker US dollar during the American session.Gold continues to shine as it …
Read More »Gold capitalizes on Fed’s hawkish comments, consolidation ahead
It has been a big Wednesday for gold. FOMC decision should help convince Wall Street that a peak in Treasury yields (10-year) is in place. The Fed is still committed to fighting inflation and the market is getting very close to pricing in peak tightening.Gold looks like it could continue …
Read More »Market Drivers – US Session – Tuesday, July 26
a large amount of speculative interest was paying attention to US bond yields. The yield curve is the most inverted since 2000. 2-year Treasuries are yielding 3.03%, while the 10-year note yields 2.76%. An inverted curve is usually a sign of an upcoming recession. Economic Data Home purchases, in the …
Read More »Market Drivers – US Session – Thursday, July 21
All eyes focused on the ECB on Thursday, amid a series of events taking place in the European Union. The most relevant was the central bank’s monetary policy decision on hiking rates by 50 bps, the first hike in over 11 years, and the awaited move away from negative rates. …
Read More »Gold rises with the decline of USD
Gold prices rose on Monday, with the dollar falling somewhat, while investors retreated from expectations that the US Federal Reserve will raise interest rates by 100 basis points at its next meeting. And the price of gold in spot transactions increased 0.7 percent to $ 1719.49 an ounce by 0724 …
Read More »Gold falls as dollar and bond yields rise
Gold prices fell 1% on Thursday, after US Treasury yields and the dollar rose, with expectations for gold already damped by fears that the US Federal Reserve will resort to a larger interest rate hike this month to tackle rising inflation. Spot gold fell 1% to $1,718.69 an ounce by …
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