NicoTradingMaster

NicoTradingMaster

Despite 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...

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BOCI head of commodities Amelia Xiao Fu said that gold still has some weakness, mainly due to the strength of the US dollar, but the macro environment for gold is relatively positive. Investors expect central banks to cut interest rates, which will limit the possibility of gold falling, if not push gold prices to new record highs. He expects gold prices to reach...

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Gold prices “plummeted” at the start of the week because of robust promoting stress as traders persevered to promote gold to cowl losses withinside the inventory marketplace. The inventory marketplace “wobbled” on the cease of ultimate week as recession fears unfold following a disappointing jobs report. The S&P 500 fell almost 4%, with maximum of the promote-off...

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amid geopolitical tensions in the Middle East Gold prices continued to extend their gains, hovering around $2,451 an ounce, thanks to safe-haven demand amid concerns over escalating tensions following the assassination of a Hamas leader in Iran. The war in Gaza and the deepening conflict in Lebanon have left the entire region in turmoil. The precious metal's...

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Experts say that the direction of gold this week will depend on the data released last week when the market lacked important new data. The most anticipated report of the week is the purchasing managers index (PMI) in the service sector for July. A majority of economists surveyed by Reuters expect the Fed to cut rates twice this year, starting in September. Traders...

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Escalating tensions in the Middle East push gold prices Gold and crude oil prices rose sharply on escalating tensions in the Middle East and concerns about a wider conflict. Any escalation in tensions in the Middle East or a dovish statement from Fed Chairman Jerome Powell tonight could send both commodities higher. Iran's leadership has made strong statements:...

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Gold prices rose more than 1.0% on Thursday, helped by a sharp decline in US Treasury yields after the release of US labor market data. Specifically, the number of jobless claims in the second week of November rose more than expected, reaching 231,000, higher than the forecast of 220,000. The number of people receiving unemployment benefits also surprised by...

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Gold prices rose above $2,400 ahead of the Fed's policy meeting, according to Sagar Dua, a financial analyst at Fxstreet. The central bank is expected to keep interest rates unchanged at 5.25%-5.50% for the eighth consecutive time. In the monetary policy statement and press conference, Fed Chairman Jerome Powell is expected to reiterate that inflation has...

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Gold prices fell slightly in this morning's trading session, fluctuating around $2,405/ounce. World gold prices reversed after gaining more than $35/oz in the previous session. The Fed is expected to maintain the current interest rate after its policy meeting in the middle of this week. However, the market expects the Fed to start easing policy as early as...

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The price increase in the international market is mainly due to increased bottom-fishing demand. In the previous sessions, the precious metal fell quite deeply, at times down to 2,370 USD/ounce, but still held firm above the important support level of 2,350 USD/ounce - the 50-day average price. Demand for gold is overwhelming compared to the pressure from a...

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The recovery in the US dollar has put pressure on the yellow metal. Accordingly, the US Dollar Index rose about 0.3% to a more than two-week high, making gold more expensive for holders of other currencies. According to Marex analyst Edward Meir, in addition to the recovery in the greenback, data from China showing that gold consumption in the world's largest...

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Today, the US central bank, the Federal Reserve (Fed), begins its first meeting of July and will end on Wednesday night - early Thursday (Hanoi time). The Bank of Japan (BOJ) will also meet tomorrow and the Bank of England (BOE) will meet and end on Thursday. According to Fed officials, inflation is on track, more positive when the core PCE index, excluding food...

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XAU/USD is hovering around $2,393 an ounce. Last week, the latest data sparked renewed optimism in the gold market, helping the precious metal gain more than $20. Accordingly, the personal consumption expenditure data (the Fed's preferred inflation gauge) showed continued progress in the fight against rising inflation. In addition, the estimated GDP in the second...

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The Fed is likely to signal plans to cut rates in September when it concludes its meeting on Wednesday, according to economists surveyed by Bloomberg News, a move they see as leading to quarterly rate cuts through 2025. Rate markets are pricing in a 100% September move, with the possibility of two more cuts by year-end, according to swaps data compiled by...

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Gold costs noticed a pointy sell-off following the discharge of tremendous US macroeconomic information, plunging to a extra than two-week low on Thursday. The initial estimate of the United States Gross Domestic Product (GDP) confirmed the United States economic system developing at a faster-than-anticipated tempo and inflation falling withinside the 2d region of...

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XAU prices saw a sharp sell-off following the release of positive US macroeconomic data, plunging to a more than two-week low on Thursday. The preliminary estimate of the US Gross Domestic Product (GDP) showed the US economy growing at a faster-than-expected pace and inflation falling in the second quarter of 2024. This suggests that the US economy is still...

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Previously, gold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House. The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world...

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Gold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House. The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics. The...