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XAU market awaits US CPI newsXAU Markets Await US CPI News The DXY Index rose 0.3%, reducing the appeal of holding the precious metal. The market is pricing in a 67% chance of a 25bps rate cut by the Fed and a 33% chance of a 50bps rate cut Fed Chairman Jerome Powell last week backed the start of rate cuts next month, while expressing confidence that inflation could hit its 2% target. A report on Tuesday showed that while US consumer confidence rose to a six-month high in August, Americans were also growing more concerned about the labor market.
OANDA:XAUUSD
by TrategySherpa
Gold faces pressure from investors when in high positionWhile investors are also cautious about how hawkish the Fed will be Caution and profit-taking pressure may be factors that prevent gold from continuing to rise. However, many recent forecasts show that the medium and long-term trend of gold is still quite bright. Demand for this commodity is forecast to increase. Major funds in the world are also increasing their gold reserves According to technical analysis, gold prices still tend to increase strongly in the short term
TVC:GOLD
by TrategySherpa
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