The value of the dollar index has decreased, resulting in a lower price for gold for those who hold other currencies. Investors are closely monitoring the upcoming Fed meeting and the US consumer prices report for May through June 13 to gain a better understanding of the state of the economy. There has been mixed economic data along with dovish comments from Fed...
This week, the value of gold received a boost due to weak economic data in the US, which caused the dollar to decline. This led to speculation that the Federal Reserve may not raise interest rates further. However, this support is limited as the dollar is expected to recover due to uncertainty about the Fed's next move. Although some areas of the US economy are...
The outlook for gold is becoming more negative due to a few reasons, including US interest payments gaining momentum and a recent payrolls report indicating a strong economy. The strength of the economy and labor market could slow down usage and bring it back to the 2.0% target, which may require the FOMC to increase the closing rate and keep it high for a...
Gold prices were supported by a weaker dollar in the midst of a wary market atmosphere, with nonfarm payrolls data slated for a later release. Additionally, JOLTS Job Openings report had a significant impact on gold prices. Despite this, the US economy shows promise for recovery due to strong retail sales, industrial production, and adjusted GDP figures....
Additionally, concerns about a potential U.S. debt default further affected the market. The rise in interest rates negatively impacts non-yielding assets such as gold, as it increases the opportunity cost of holding them. The Fed's approach to rate hikes is based on data, and with inflation rising, they may consider further hikes. Economic risks from a possible...
Gold price fell below the support of $1936.00 during Asian trading, after slipping beneath the $1952.00 cushion due to the US economy's approaching default. Technical indicators suggest a downside risk in the daily chart. The US Dollar found support due to positive macroeconomic data and the gloomy market mood. The currency remains strong, while the stock market...
Gold prices have been trading in a narrow range of $1,950-1,980 for almost a week. This comes after the prices dropped below $2,000 level due to the uncertainty around the US default. Copper prices have hit a six-month low due to weakening demand and global manufacturing activity. The metals market has been under pressure as the US dollar has strengthened, with...
Greetings to all traders! I have some valuable trading-related information that I would like to share with you. Please give it a read and if you find it helpful, kindly leave a positive feedback and consider following me ❤️ The world's reserve currency has been misused by American politicians, bureaucrats, and central bankers who have failed to manage their...
Greetings to all traders! I have some valuable trading-related information that I would like to share with you. Please give it a read and if you find it helpful, kindly leave a positive feedback and consider following me ❤️ The technical indicators are signaling a potential increase in risk and a decline in earnings, which may worry those who are bullish on the...