DNA_TradingFX

DNA_TradingFX Updated 

The Federal Reserve has stopped raising interest rates, which means that assets like gold may have higher rates for a longer time. Gold has not seen much demand as a safe haven in the past month, but a potential recession in the US and Europe could change that. Buyers are optimistic due to a positive chart pattern and sustained trade in XAU/USD above the EMA at...

DNA_TradingFX Updated 

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...

DNA_TradingFX Updated 

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...

DNA_TradingFX Updated 

On Monday, there was a slight dip in the price of gold due to uncertainty surrounding the Federal Reserve's decision on its benchmark later this month. This drop followed the release of stronger-than-expected Nonfarm data for May, which suggests a more hawkish outlook for the Fed and could lead to higher interest rates for longer. As a result, non-yielding...

DNA_TradingFX Updated 

Gold prices steadied in a tight range on Tuesday as optimism that the US central bank won't raise interest rates this month kept the dollar under pressure. The dollar index fell 0.1%, making gold a more favorable option for foreign investors. Yields on 10-year Treasuries also fell after weaker US services data on Monday. Lower interest rates tend to lift the...

DNA_TradingFX Updated 

The price of gold rebounded after hitting a low point not seen in over two months. This was due to the recent data showing that the US services sector had experienced minimal growth in May, which halted several months of strong market growth. The weakened dollar was also beneficial to metal markets, with gold being a safe-haven asset. However, it is expected...

DNA_TradingFX

The economy is showing signs of improvement, with the USD still on the rise. However, tensions of war are on the increase. If the conflict intensifies, Gold is likely to see a surge in demand due to its traditional role as a safe haven for investors. This could lead to price conflicts and a time of heightened market volatility. Experts predict a decline in gold...

DNA_TradingFX

Gold prices increased by more than 0.7% on Thursday, resulting in an overall gain of about 1.6% for the week. This marks the best week for gold since early April. The rise in XAU/USD comes as the US Dollar and Treasury yields weaken, highlighting gold's anti-fiat characteristics. On the daily chart, the next major technical obstacle for gold prices is...

DNA_TradingFX Updated 

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....

DNA_TradingFX Updated 

Recent data indicates that China's economic recovery, as well as manufacturing activity in the US and Euro Area, is slowing down. As a result, industrial metal prices have been affected, with copper dropping to a seven-month low in May. The demand for copper is expected to be limited due to fears of a global recession this year. Currently, gold is attempting to...

DNA_TradingFX Updated 

Yesterday, gold prices experienced their largest daily gain in over a week due to a decrease in the US Dollar Index and Treasury yields. This was partly due to month-end positioning and a general sense of caution among investors. Mixed US data also contributed to the decrease in the value of the dollar and an increase in the value of XAU/USD. The Relative...

DNA_TradingFX Updated 

The US Dollar Index (DXY) experienced a drop from its 10-week high and fell to an intraday low of 104.00. Despite this, the US 10-year Treasury yields remain low, around 3.68% at present, while the two-year counterpart also remains low near 4.45% after a 12-day uptrend. It's worth noting that recent data in the US hasn't supported the Federal Reserve's hawkish...

DNA_TradingFX

The markets are busy today, and the US Dollar is losing value as investors anticipate a positive response to news of a US debt agreement. The market is confident that Congress will approve the agreement on Wednesday, which is reflected in the performance of U.S. Treasuries and stock futures. Gold prices are currently at a two-month low of $1,937, and there is a...

DNA_TradingFX

At the beginning of the week, the price of gold dropped to the lowest it's been in two months. This was due to the easing of concerns around the US debt ceiling and the increase in US yields. The real yield, which is calculated by subtracting the market rate of inflation from the nominal yield, also contributed to the weakening of gold. The US Dollar has been...

DNA_TradingFX

The US Dollar is experiencing a minor setback from its two-month high against other major currencies due to the slow performance of US Treasury bond yields. Although the US Dollar is weakening, Gold price is still under pressure because of the potential risk of a US recession, even though the debt deal still needs to be approved by Congress. The recent decline...

DNA_TradingFX

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...

DNA_TradingFX Updated 

Two of the strongest months for gold tend to be January and August. However, over the last 25 years, the weakest month for gold has been March. The early bounce in gold around the turn of the month has largely been on a retracement in the USD and yields after heavy re-pricing on Fed rates. However, the outlook moving forward for gold is likely to continue to...

DNA_TradingFX

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...