XAUUSD IDEA
Gold price ascends to a two-week peak at $1879.91.21, buoyed by declining US Treasury yields.
Fed minutes reveal concerns over dual-sided risks to inflation and economic activity, influencing policy outlook.
US producer-side inflation data and varied Fed official stances complicate the gold price trajectory.
(XAU/USD) climbed for the second straight day and printed a two-week high at around $1877.21 on Wednesday, courtesy of falling US Treasury bond yields spurred by the latest Fed meeting minutes. At the time of writing, the XAU/USD is trading at 1874.73, almost flat as the Asian session begins.
- The market is aimed at resistance retest -
At the same time DXY is in the phase of correction to the support area, the publication of bullish news for the dollar may resume further growth of the index, which will partly affect the gold. The market may test the resistance of 1879, after which the price may roll back to the support. In the long term, the market may trade inside the sideways range to determine the further scenario, but it should be understood that gold is bought up during the war. In the absence of further escalation of the conflict, the price may decline, but not significantly: the longer-term factor - expectations of the end of the Fed rate hike cycle - is also having an impact. :
Important New:
Oct 17, 17:30 - Maldivian Time:
-Jobless Claims 4-week Average (Oct/07)
- Continuing Jobless Claims (Sep/30)
- Initial Jobless Claims (Oct/07)
- Core Inflation Rate MoM (Sep)
- Inflation Rate MoM (Sep)
- Core Inflation Rate YoY (Sep)
- Inflation Rate YoY (Sep)
- CPI (Sep)
- CPI s.a (Sep)
Resistance levels: 1879.91, 1884.53
Support levels: 1857.73, 1869.66
Fed minutes reveal concerns over dual-sided risks to inflation and economic activity, influencing policy outlook.
US producer-side inflation data and varied Fed official stances complicate the gold price trajectory.
(XAU/USD) climbed for the second straight day and printed a two-week high at around $1877.21 on Wednesday, courtesy of falling US Treasury bond yields spurred by the latest Fed meeting minutes. At the time of writing, the XAU/USD is trading at 1874.73, almost flat as the Asian session begins.
- The market is aimed at resistance retest -
At the same time DXY is in the phase of correction to the support area, the publication of bullish news for the dollar may resume further growth of the index, which will partly affect the gold. The market may test the resistance of 1879, after which the price may roll back to the support. In the long term, the market may trade inside the sideways range to determine the further scenario, but it should be understood that gold is bought up during the war. In the absence of further escalation of the conflict, the price may decline, but not significantly: the longer-term factor - expectations of the end of the Fed rate hike cycle - is also having an impact. :
Important New:
Oct 17, 17:30 - Maldivian Time:
-Jobless Claims 4-week Average (Oct/07)
- Continuing Jobless Claims (Sep/30)
- Initial Jobless Claims (Oct/07)
- Core Inflation Rate MoM (Sep)
- Inflation Rate MoM (Sep)
- Core Inflation Rate YoY (Sep)
- Inflation Rate YoY (Sep)
- CPI (Sep)
- CPI s.a (Sep)
Resistance levels: 1879.91, 1884.53
Support levels: 1857.73, 1869.66
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.