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XAU slightly decreased in this afternoon trading sessionGold expenses had been little modified this morning, the USD weakened and buyers more and more more consider that americaA Federal Reserve (Fed) might also additionally reduce hobby prices in September. "The essential driving force of the upward thrust in gold expenses has been economic funding demand, particularly as ETF shopping for has stepped forward and universal sentiment has stepped forward on expectancies of a Fed easing cycle beginning in September." holdings of the world`s biggest gold-sponsored exchange-traded fund, rose to a seven-month excessive of 859 tonnes on August 19.
OANDA:XAUUSD
by TrategySherpa
3
World gold will reach 2,600 USD/ounce when the Fed cuts interestGeopolitical tensions continue to be a catalyst supporting the gold rally. In today's trading session, XAU/USD is expected to continue to maintain above the 2,500 zone and has the potential to increase further. However, investors should note that if the price closes below 2,499 on the H4 time frame, it could be a sign of a short-term correction. There is no news for gold today, the current trend is still sideways at 2482 and 2510, it can trade in this price range.
TVC:GOLD
by NicoTradingMaster
XAU increases sharply to maintain record high priceThe $2,500/ounce level of the precious metal is very difficult to maintain. Because, after reaching a new historical milestone, gold is easily sold off by investors to take profits. Not only that, at such a high price, it is difficult to attract new buyers to the market, also causing this commodity to decrease in price. The upward trend of gold is still in place and the direction of the precious metal will depend on the policy direction of the US Federal Reserve (Fed). The balance between economic growth and inflation is reduced, which will strengthen the possibility of a stronger interest rate cut. On the contrary, if he is optimistic and does not make a specific commitment, the market may have to readjust current expectations.
OANDA:XAUUSD
by NicoTradingMaster
XAU receives strong support from USDWeaker USD Supports Strong XAU Gains XAU is currently at an all-time high Although gold has since been hit by a wave of profit-taking from investors, the decline in the USD is providing positive support and halting the decline in the precious metal. Traders are now looking ahead to the annual Jackson Hole Federal Reserve meeting that begins later this week. In previous years, central bank officials have made market-moving statements at the meeting. Federal Reserve Chairman Jerome Powell is scheduled to speak at the meeting on Thursday morning.
OANDA:XAUUSD
by TrategySherpa
XAU increased sharply in today's US sessionDespite a slight decline from the early morning, the yellow metal has pared its gains from the day amid selling pressure amid concerns that demand will be sluggish in the coming period. Investors’ concerns were heightened as the official report released on Wednesday showed that the People’s Bank of China continued to hold steady in July. Thus, the bank’s reported gold reserves have remained unchanged for the third consecutive month. According to Krishan Gopaul, senior analyst at the World Gold Council, China’s gold holdings remain at 2,264 tonnes and still account for about 5% of its total reserves.
OANDA:XAUUSD
by NicoTradingMaster
Gold falls as investors sell offStock markets fell from Asia to North America as investors fled riskier assets while betting that the Federal Reserve will need to cut interest rates quickly to boost US economic growth. "Stocks are falling as the US jobs report (on Friday) showed the US economy created fewer jobs than expected last month, while factories across the US, China and Europe are struggling with weak demand," said Phil Flynn, senior analyst at Price Futures Group. The Bank of Japan (BOJ) raised its main interest rate again last week and also said it would halve the amount of government bonds it buys. The news of the tightening sent the Japanese yen higher against the US dollar. Tighter monetary policy in Japan, combined with the prospect of an imminent US rate cut, has shifted global investment flows, including the unwinding of the yen yield spread trade.
TVC:GOLD
by TrategySherpa
XAU falls as investors sell offGold prices fell today (August 6) as investors continued to sell gold to cover losses in the stock market. Markets are also continuing to feel the negative impact of the cancellation of the "yen carry trade" as well as concerns about a recession in the US and globally, reducing demand for precious metals. Stock markets plunged from Asia to North America as investors fled riskier assets while betting that the US Federal Reserve (Fed) will need to cut interest rates quickly to boost US economic growth.
OANDA:XAUUSD
by TrategySherpa
XAU plunged this morningGold prices “plummeted” at the start of the week because of robust promoting stress as traders persevered to promote gold to cowl losses withinside the inventory marketplace. The inventory marketplace “wobbled” on the cease of ultimate week as recession fears unfold following a disappointing jobs report. The S&P 500 fell almost 4%, with maximum of the promote-off taking place on Thursday and Friday. The Nasdaq ended the week down almost 5% from its excessive and formally entered undergo marketplace territory. Although taken into consideration a secure haven in instances of uncertainty, specialists say gold become now no longer proof against the promote-off on Monday as traders dumped property throughout the board. Despite the pointy fall in gold prices, analysts stated gold, which has won extra than 16% this year, may want to regain momentum withinside the future, because of chronic financial and political uncertainties in addition to expectancies of a price reduce via way of means of the United States Federal Reserve, which could gain bullion.
OANDA:XAUUSD
by NicoTradingMaster
Gold rose and held at 2454 todayExperts say that the direction of gold this week will depend on the data released last week when the market lacked important new data. The most anticipated report of the week is the purchasing managers index (PMI) in the service sector for July. A majority of economists surveyed by Reuters expect the Fed to cut rates twice this year, starting in September. Traders are currently pricing in about a 63% chance of a September rate cut, according to the CME FedWatch Tool.
OANDA:XAUUSD
by NicoTradingMaster
Gold prices skyrocketed and lastedEscalating tensions in the Middle East push gold prices Gold and crude oil prices rose sharply on escalating tensions in the Middle East and concerns about a wider conflict. Any escalation in tensions in the Middle East or a dovish statement from Fed Chairman Jerome Powell tonight could send both commodities higher. Iran's leadership has made strong statements: President Masoud Pezeshkian warned that Iran would "make the occupiers (Israel) regret this cowardly act". Supreme Leader Ayatollah Ali Khamenei added: "We consider it our duty to avenge him". These provocative statements are raising concerns about the possibility of a wider conflict in the region. Above all, the prospect of a full-scale war in the Middle East is causing more worries about the potential impact on global energy markets and international relations.
TVC:GOLD
by NicoTradingMaster
US Treasury yields have fallen sharply, dragging gold prices upGold prices rose more than 1.0% on Thursday, helped by a sharp decline in US Treasury yields after the release of US labor market data. Specifically, the number of jobless claims in the second week of November rose more than expected, reaching 231,000, higher than the forecast of 220,000. The number of people receiving unemployment benefits also surprised by rising to 1,865,000 - the highest in nearly two years, showing the difficulty of the US labor market. Weak economic data, along with CPI and PPI data released earlier in the week, reinforced the view that the Fed's rate-hiking cycle is over. This has had a strong impact on US Treasury yields, causing the 10-year Treasury yield to fall below 4.45%, approaching its lowest level since late September. With the market expecting the Fed to gradually ease monetary policy, gold prices could maintain an upward trend in the short term. This scenario will be confirmed if US economic data continues to weaken.
OANDA:XAUUSD
by NicoTradingMaster
Gold rises due to Middle East geopolitical tensionsMarket expectations are growing that the Fed is preparing to cut interest rates in September. While gold prices remain on an upward trend, some investment firms are warning investors that the market will be volatile in the coming period. Fed funds futures are fully pricing in a September 2024 rate cut for the US, and the market consensus is for 100 basis points of cuts next year. However, with the European Central Bank and several other developed world central banks already starting their rate-cutting cycle, the US dollar remains firm, providing a headwind for dollar-denominated gold. On Thursday (1/8), the Bank of England (BoE) cut the Bank Rate by 25 basis points to 5%. The Bank of England is now the third major central bank to cut interest rates ahead of the US Federal Reserve, along with the Swiss National Bank, the Bank of Canada and the European Central Bank.
TVC:GOLD
by TrategySherpa
XAU rises on Fed policy and geopolitical tensionsGold prices rose above $2,400 ahead of the Fed's policy meeting, according to Sagar Dua, a financial analyst at Fxstreet. The central bank is expected to keep interest rates unchanged at 5.25%-5.50% for the eighth consecutive time. In the monetary policy statement and press conference, Fed Chairman Jerome Powell is expected to reiterate that inflation has returned to the bank's 2% target. Powell may also highlight rising risks to the labor market. It will be difficult for Powell to set a timeline for a rate cut as the fight against inflation is far from over and the US economy is growing at a strong pace.
OANDA:XAUUSD
by NicoTradingMaster