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Xauusd

All articles tagged with #xauusd

finance1 year ago

Gold Prices Plummet Amid Hawkish Fed and Market Volatility

Gold prices dropped over 2% on Thursday due to stronger-than-expected U.S. economic data, which increased U.S. Treasury yields and strengthened the dollar. The precious metal broke several support levels, hitting a two-week low. With persistent inflation and a strong U.S. economy, the Federal Reserve is likely to maintain higher interest rates, limiting gold's near-term upside. Key technical levels to watch include $2,310, $2,300, and $2,280 on the downside, and $2,365, $2,375, and $2,420 on the upside.

via DailyFX|
#federal-reserve#finance#gold-prices
finance1 year ago

Gold Prices Soar as Safe-Haven Demand Surges

Gold prices surged close to a record high after Iran's attack on Israel increased demand for safe-haven assets, with bullion rising by as much as 1.2% before partially retracing. The conflict in the Middle East escalated as Iran launched over 300 drones and missiles at Israel, most of which were intercepted, resulting in no reported fatalities.

via Bloomberg|
#finance#gold#haven-demand
finance1 year ago

"Gold Price Forecast: Factors Influencing XAU/USD Levels"

Gold prices have been consolidating without clear direction, awaiting fresh catalysts, with next week's US inflation data likely to drive market volatility and guide precious metals in the near term. The Federal Reserve's resistance to cutting rates imminently could be validated by limited progress toward disinflation in the upcoming consumer price index report. An upside surprise in the CPI numbers would be bearish for gold, while lower-than-forecast inflation readings could be positive for the yellow metal. Gold prices are currently consolidating around the 50-day moving average, with resistance at $2,065 and support at $2,005, and a breakout in either direction likely to guide the next trend.

via DailyFX|
#federal-reserve#finance#gold-price-forecast
finance2 years ago

"Gold Price Outlook: Traders Await PBoC Rate Decision and US Economic Data"

Gold price drifts lower to $2,027 as robust US economic data raise expectations of delayed interest rate cuts by the Federal Reserve, boosting the US Dollar. US consumer sentiment improved in January, hitting the highest level since July 2021, while investors await the People’s Bank of China interest rate decision. Weaker US data may lead the Fed to lean toward a dovish policy, potentially capping the downside of the gold price, while any negative developments in the Chinese economy could drag the gold price lower.

via FXStreet|
#federal-reserve#finance#gold-price
finance2 years ago

Gold Price Strengthens Amid Global Tensions and Economic Data

Gold prices are showing signs of a bullish continuation, with the US dollar drifting higher and yields vulnerable to further downside. The $2050 level presents a key psychological barrier, but gold's safe haven appeal during geopolitical instability could render it ineffective. The MACD indicator suggests upside momentum, with the prior all-time high of $2081.80 as the next level of resistance.

via DailyFX|
#finance#gold-price-outlook#technical-analysis
finance2 years ago

Gold Price Rises as Dollar Weakens and Traders Monitor Economic Data

The technical outlook for gold is positive as the market awaits the release of the US Core PCE Price Index, which is expected to show a slight decrease in November. If the data aligns with market forecasts, the Federal Reserve will face challenges in justifying the need to maintain current interest rates. Gold is currently testing resistance levels and finding support at the 20-day simple moving average. A break above resistance could lead to further gains, while a break below support may leave the precious metal vulnerable. Retail trader data suggests a bearish sentiment, but the contrarian view takes into account the possibility of gold prices continuing to fall.

via DailyFX|
#core-pce#finance#gold
finance2 years ago

Gold Prices Await US Jobs Data and Trade Setups, Remain Positive Amidst Fickleness

Gold prices remain uncertain ahead of the release of the US jobs data, with investors cautious about taking large bets. The nonfarm payrolls report could provide insights into the health of the economy and the Federal Reserve's monetary policy outlook. If the data surprises to the upside, it could lead to a scaling back of monetary policy easing wagers, putting upward pressure on Treasury yields and the US dollar, which could be detrimental to precious metals. Conversely, disappointing figures could reinforce dovish interest rate prospects, leading to lower yields and a weaker dollar, potentially boosting gold prices. From a technical standpoint, gold retains a positive profile, with resistance levels at $2,050 and $2,070/$2,075, while support rests near $2,010.

via DailyFX|
#finance#gold-prices#monetary-policy
finance2 years ago

"Gold Prices Surge as AUD/USD Attempts Bullish Breakout, Defying Technical Resistance"

Gold prices are climbing and challenging technical resistance due to falling US yields and a weaker US dollar. XAU/USD has risen over 8% since October, surpassing its 200-day moving average and the $2,000 level. To confirm further upward momentum, a clear move above the $2,010/$2,015 resistance zone is needed. A breakout could lead to a rally towards $2,060 and $2,085. On the downside, support levels are at $1,980 to $1,975, with a potential retreat towards the 200-day moving average at $1,950. Meanwhile, AUD/USD has broken above its 200-day moving average and is close to overcoming resistance at 0.6600-0.6620. A move above this level could push prices towards trendline resistance at 0.6670 and 0.6815. On the downside, support is at 0.6525, with further losses possible towards the 100-day moving average at 0.6460.

via DailyFX|
#audusd#finance#gold-prices
finance2 years ago

Gold Price Forecast: Bears Target $1,950 Support Level as Traders Await Powell's Remarks

Gold prices are facing renewed selling pressure as hawkish comments from Fed policymakers dampen hopes of a more dovish stance. The Dollar Index is attempting a recovery but struggling at a key resistance level. Fed Chair Powell's upcoming speech may shed light on monetary policy. Technical analysis suggests that gold could decline further towards the $1950 level, with key support levels to watch. Retail traders are overwhelmingly long on gold, raising the possibility of further downside.

via DailyFX|
#dollar-index#fed#finance
finance2 years ago

Gold Price Forecast: Bears Gain Momentum as Hedge Funds Lose Interest

Gold prices are consolidating above key support as rising yields and improving sentiment cap gains. The $2000/oz level continues to be a stumbling block for gold, despite the weaker US dollar. The safe haven appeal of gold may be waning as optimism grows that a wider regional conflict in the Middle East may be averted. Gold is likely to remain supported with a weaker US dollar, but a sustained break above $2000 may require continued weakness in US data. The immediate downside risk for gold lies in improving sentiment and risk appetite, which could push gold toward a deeper retracement. Silver is showing a similar price action to gold, with a double top pattern and a key resistance area around $23.18. Retail traders are overwhelmingly long on silver, suggesting a potential fall in the days ahead.

via DailyFX|
#finance#gold#silver