DNA_TradingFX

DNA_TradingFX Updated 

Gold prices remained just above their lowest level in three months on Wednesday, as they suffered significant losses in the previous session due to traders shifting their focus to the dollar in anticipation of further information on U.S. interest rates. Later in the day, Federal Reserve Chair Jerome Powell is scheduled to testify before Congress, which could...

DNA_TradingFX Updated 

The uncertainty surrounding the Federal Reserve's plans to increase interest rates is considered a significant factor supporting the price of gold, which does not provide any yield. However, a substantial increase in value still appears to be difficult to achieve. The recent underwhelming macroeconomic data from the United States has raised doubts about how much...

DNA_TradingFX Updated 

The price of gold (XAU/USD) is currently being affected by negative market sentiment towards China and concerns about the Federal Reserve (Fed). It is currently trading near its lowest point of the day, around $1,955 in early Monday trading in Europe. Recent news about several banks lowering their growth forecasts for China has dampened investor appetite for risk...

DNA_TradingFX Updated 

Gold remains stagnant due to the uncertainty caused by the Federal Reserve and the current state of the economy. Jerome Powell, the Federal Reserve Chair, is set to speak before Congress on Wednesday, providing further insight into U.S. monetary policy following the recent pause in rate hikes. However, the news of a potentially higher peak interest rate this year...

DNA_TradingFX Updated 

The Federal Reserve's unclear direction regarding interest rate increases has resulted in limited price movement in the market. Congress is closely monitoring this situation. So, The price of gold is having difficulty taking advantage of its small increase earlier in the day and is moving within a narrow range during the first half of the Asian session on Tuesday....

DNA_TradingFX Updated 

Following the US's decision to halt interest rate hikes, the European Central Bank (ECB) raised interest rates by 0.25 percentage points in order to boost interest rates in the euro area to 3.5%. As a result, the US dollar significantly depreciated against several currencies, causing a sharp decline in US bond yields. Consequently, the appeal of USD and bonds...

DNA_TradingFX

The price of gold is currently hovering around the $1932 mark, showing a downward trend over the past three days. The actions taken by the US Federal Reserve (Fed) caused some volatility today but were unable to reverse the downward trend of XAU/USD due to the hawkish trend. It's worth noting that if the price drops below $1,932, it could quickly reach the 50%...

DNA_TradingFX Updated 

The recent decision by the Fed to pause on future rate hikes is good news for gold. However, there are concerns that the yellow metal could face increased pressure as this move may push risk appetite up. Some analysts have warned that the Fed may still raise rates later in the day due to US inflation being far above the central bank's 2% target. Despite slipping...

DNA_TradingFX

The Federal Reserve has decided to keep interest rates the same as predicted. However, during the FOMC meeting, Mr. Powell stated that he believes there will be two more rate hikes in order to reach the 2% inflation target. It's important to note that keeping interest rates unchanged does not signify the end of the rate hike process. Looking at the short-term...

DNA_TradingFX Updated 

Gold prices have taken a dip and are currently trading at a daily low of $1,942. This comes after the US dollar struggled earlier in the day, particularly with the US Consumer Price Index falling below market expectations. This has caused some optimism in the market, with gold experiencing a bearish trend on the 4-hour chart. The support levels are at 1,940...

DNA_TradingFX Updated 

Today, there will be an announcement regarding the US Consumer Price Index (CPI). Traders are currently proceeding with caution due to the expected decrease in CPI from 4.9% to 4.1%. It is predicted that the Federal Reserve will maintain the current interest rate of 5.25% after a period of steady increases, possibly due to recent economic downturns. Gold...

DNA_TradingFX Updated 

Recently, central banks have been instrumental in supporting the value of gold. Their interest in purchasing precious metals has reached new heights, playing a major role in stabilizing gold prices. Despite this, the US Federal Reserve continues to hold a significant position in the gold market, and many anticipate an increase in gold prices once the current...

DNA_TradingFX Updated 

In recent months, central banks have played a significant role in supporting the value of gold. Their interest in purchasing the precious metal has hit record levels, and this has been a major factor in keeping gold prices stable. Despite this, the US Federal Reserve remains the key player in the gold market, and many believe that the price of gold will rise once...

DNA_TradingFX Updated 

Gold prices saw a decline on Monday after hitting a five-day high of $1,973 on Friday. However, prices remained within last week's range, as investors turned cautious ahead of the US Consumer Price Index (CPI) and policy announcements of the United States Federal Reserve. The bearish 89-day Moving Average (EMA) has been causing rejection, with the 14-day...

DNA_TradingFX Updated 

On Friday, the gold and metals markets remained stable and were expected to experience a second week of growth. This was due to the dollar weakening and predictions that the Federal Reserve would halt its rate hike cycle. The yellow metal had its highest intraday gain in two weeks on Thursday, reaching the highest end of a trading range seen since mid-May due to...

DNA_TradingFX Updated 

According to the H4 chart, the short-term outlook for the XAU/USD pair seems favorable, despite a slight loss in upward momentum. Technical indicators have flattened out after crossing into positive territory, as the pair consolidates near daily highs. Gold has also recovered above the 34 EMA and is trending upwards. However, the $1,970 level has seen...

DNA_TradingFX Updated 

On Wednesday, the US dollar experienced significant fluctuations, but ultimately ended the day with little change. The main factor affecting gold prices was US Treasury yields, which supported the US dollar. Currently, gold prices are stabilizing after a recent decline, but if the market worsens, the US dollar may become a safe-haven investment, which could limit...

DNA_TradingFX Updated 

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...