MrTrongVo

MrTrongVo Updated 

With the June settlement nearing its first be aware day, the August 2024 gold futures settlement will quickly turn out to be the maximum actively traded. Currently, the August 2024 settlement is up $27.40, buying and selling at $2,384.30. Multiple elements were riding gold`s ascent to document highs. While a few analysts characteristic the treasured metal's rally...

MrTrongVo

“If the PCE record is better than marketplace forecasts, this can be some other assault on FED hobby price reduce expectations, inflicting gold expenses to fall even deeper.” Notably, Kitco News`s ultra-modern weekly gold survey indicates that greater than 3-quarters of enterprise specialists assume that gold expenses will pass sideways or lower this week. 14...

MrTrongVo Updated 

Gold fee has reached the inexperienced field location now and could watch for a response. If a robust bullish jump response happens on this location then the bullish fashion might be showed to preserve. Meanwhile, a in addition decline underneath this location might be a bearish signal withinside the medium-lengthy term. In the lengthy term, so long as expenses...

MrTrongVo Updated 

A bad home sales report (but record April home prices) combined with falling traffic and smaller spending data from Target cast an early shadow on the markets but it was the FOMC Minutes that did the trick. big waves with their more hawkish comments. For any and all that say "yeah but they're old, we've had CPI and Retail Sales since then", see the chart below to...

MrTrongVo Updated 

World gold price on the night of May 22 was about 16.8% higher than at the end of 2023. World gold price converted by USD bank price was 74.7 million VND/tael, including taxes and fees, lower about 16.2 million VND/tael compared to the domestic gold price as of the late afternoon of May 22. World gold prices fell sharply, causing the USD to increase rapidly....

MrTrongVo Updated 

The left chart suggests an equally-weighted gold basket of spot gold towards FX majors. It objectives to expose the underlying of energy of gold in general, and dilute the inverse dating among gold and americaA greenback – that is the maximum extensively observed gold market. On the proper we are able to see the gold futures (gold/USD) reached a document excessive...

MrTrongVo

The yellow steel fell on Thursday after a sequence of Fed officers warned towards making a bet on a direct hobby fee reduce. Some individuals of the primary financial institution`s hobby-fee-placing committee stated the primary financial institution will want a lot greater convincing that inflation is easing past a moderate blip in April. This shows buyers are...

MrTrongVo

The yellow steel fell on Thursday after a sequence of Fed officers warned in opposition to putting a top class on an instantaneous hobby price reduce. Some contributors of principal banks` hobby-price-putting panels stated principal banks could want to illustrate a lot extra that detectability become falling past the tepid emissions visible in April. This shows...

MrTrongVo Updated 

In his speech in Amsterdam, US Federal Reserve Chairman Jerome Powell said that inflation is still high and the Fed will have to spend more time in this fight. He said the Fed will maintain restrictive monetary policy until inflation falls to its 2% target. Marex analyst Edward Meir said that the fact that Fed Chairman Jerome Powell did not signal a rise in...

MrTrongVo Updated 

World gold spot price is around 2,395.3 USD/ounce, up 25.3 USD/ounce compared to overnight. Gold futures price in June 2024 on the Comex New York floor is at 2,398.8 USD/ounce. Gold price today is trading on the world market at 2,370 USD/ounce. Gold delivered in June 2024 on the Comex New York floor is at 2,374 USD/ounce. World gold price on the night of May 15...

MrTrongVo Updated 

Gold prices fell amid falling US government bond yields and a strong USD. The 10-year US government bond achieved a yield of 4.4% and decreased nearly 4 basis points compared to the opening level. The USD index (DXY), which tracks the movement of the USD against 6 other currencies, is currently down 0.03% to 105.00 and is struggling here. The US Bureau of Labor...

MrTrongVo Updated 

1. Schmid of the Fed knows interest rates will likely stay high for a while. 2. Mester of Fed said it was too early to conclude that a re-detection was likely. 3. US data PPI is inconsistent. 4. Fed's Powell says the Fed will likely keep interest rates higher for longer. 5. ECB's Wunsch found no need to cut rates after the first cut in June. The US April PPI...

MrTrongVo Updated 

“Bears have had ample opportunity to re-take control of the trend, but ever since the low printed on the NFP report, bulls have been making their way back,” Stanley said. “This week saw a break of the falling wedge, which takes on a similar appearance as a bull flag, and this keeps the door open for continued strength next week.” Adrian Day, President of Adrian...

MrTrongVo Updated 

Amid cooling geopolitical tensions and a slow week for economic data releases, the gold market ultimately returned its focus to the Federal Reserve’s interest rate path. Spot gold opened the week trading just above the $2,300 level, and spent most of the week trading in a $30 range. In the absence of other significant data, gold prices took their direction from...

MrTrongVo

As 2024 unfolds, gold prices are poised for a significant surge due to the economic and geopolitical forces that underline a strong bullish trend in the market. Despite the challenges posed by a strengthening U.S. dollar and hawkish stances from the Federal Reserve, gold has maintained robust performance. This strength is further supported by a marked increase in...

MrTrongVo

Technical analysis of gold also shows bullish prospects. Gold prices have charted an ascending widening wedge pattern since 2016, starting from a low of $1124.30. This pattern is often recognized for its expanding trend lines and suggests increasing volatility and bullish sentiment as price makes higher highs and lows. Furthermore, another bullish pattern has...

MrTrongVo

As at end April 2024, the amount of gold held in London vaults was 8,552 tonnes (a 0.1% decrease on previous month), the lowest holdings since May 2020, valued at $634.3 billion, which equates to approximately 684,132 gold bars. The market last night received information that the number of applications for unemployment support last week in the US increased...

MrTrongVo Updated 

When assessing that prospect, there are worse market indicators to monitor than the front-end of the US bond curve. As this chart shows, the daily correlation between the US dollar index and US two-year bond yields over the past quarter stands at 0.89, implying the dollar usually follows movements at the front-end of the US curve. Gold looks great on he charts,...