Prince677

Prince677 Updated 

Gold price (XAU/USD) reverses an intraday dip to the $1,990 area and climbs to a fresh daily peak during the early part of the European session. The precious metal, however, remains below the $2,000 psychological mark amid expectations that the Federal Reserve (Fed) will keep the door open for one additional rate hike in 2023 to bring inflation back to its 2%...

Prince677 Updated 

Gold price falls nominally from five-month high of $2,009 as investors remain concerned about the interest rate guidance from the Fed, which will be delivered on Wednesday. The precious metal stabilizes above the crucial resistance of around $1,990, which is now acting as a major support for the Gold bulls. The broader Gold demand outlook turns bullish as the...

Prince677

GBP/USD fluctuated in a narrow channel in the Asian session before retreating to the 1.2100 area in the European morning. The near-term technical outlook suggests that the bearish bias stays intact. Over the weekend, the United Arab Emirates (UAE) requested a UN Security Council emergency meeting to discuss the situation in the Gaza Strip, asking "for an...

Prince677 Updated 

Gold declined to $1,980 during the European trading hours on Friday but managed to retrace its daily decline. The benchmark 10-year US Treasury bond yield turned flat on the day near 4.85% following US PCE inflation data and allowed XAU/USD to find a foothold GOLD BUY : 1981 TP. : 1988 TP. : 1995 TP. : 2000 SL. : 1972

Prince677 Updated 

Gold price recovers the recent losses on improved risk sentiment. Escalation in Middle-East conflict could drive the demand for the safe-haven asset Gold. Updates from China might contribute to a positive shift in market sentiment. Gold price treads waters near the $1,980 post-intraday gains during the Asian session on Tuesday. The price of the precious metal...

Prince677 Updated 

Gold price (XAU/USD) gains some positive traction on Wednesday and move away from the weekly low, around the $1,954-1,953 area touched the previous day. The precious metal manages to hold its neck above the $1,970 level through the first half of the European session and for now, seems to have stalled its recent retracement slide from the vicinity of the $2,000...

Prince677 Updated 

At the end of the latest reporting week on 17 October, financial investors were on balance betting on a rising Gold price again. The data show net long positions amounting to 15,100 contracts, compared to net short positions totalling 26,700 contracts a week earlier. Three quarters of the shift of just shy of 42,000 contracts was due to short covering, which...

Prince677 Updated 

Gold price (XAU/USD) recovered after a corrective move from the psychological resistance that was inspired by rising long-term US Treasury yields. The precious metal aims to recapture a five-week high as Israel-Palestine tensions keep the fears of widening Middle East conflict persistent. The 10-year US Treasury yields jumped to a multi-year high of 5% amid...

Prince677

Gold price was shy of testing the $2000 troy ounce barrier on Friday amidst increasing geopolitical risks, as the conflict between Israel and Hamas is briskly spreading toward more countries in the region. At the time of writing, XAU/USD is trading at around $1980.20 after the yellow metal bounced from daily lows of $1972.12 ...

Prince677 Updated 

Gold price (XAU/USD) rose sharply as Middle East tensions kept escalating and the Federal Reserve (Fed) Chair Jerome Powell endorsed a stable interest rate policy in his speech on Thursday. The demand for bullion strengthened as Israeli troops prepared to enter the Gaza strip with the goal of dismantling Hamas, the Palestinian military group. Meanwhile, despite...

Prince677 Updated 

Gold capitalized on safe-haven demand amid escalating geopolitical tensions and gathered bullish momentum to start the week. As US Treasury bond yields turned south on dovish Fed expectations, XAU/USD extended its rally and snapped a two-week losing streak. GOLD BUY : 1948 TP. : 1960 TP. : 1970 TP. : 1980 SL. : 1934

Prince677 Updated 

The US Dollar remains on the back foot early Wednesday, tracking the retreat in the US Treasury bond yields from over one-week highs, as investors seem to fade the market optimism briefly driven by the upbeat Chinese economic data releases. The National Bureau of Statistics (NBS) showed on Wednesday that China’s economy expanded at an annual rate of 4.9% in the...

Prince677 Updated 

After rising toward $1,930 earlier in the day, Gold lost its bullish momentum and declined toward $1,920. Following the better-than-forecast Retail Sales data from the US, the benchmark 10-year US Treasury bond yield climbed above 4.8% and weighed on XAU/USD. GOLD SELL : 1928 TP. : 1914 TP. : 1900 SL. : 1939

Prince677 Updated 

Gold capitalized on safe-haven demand amid escalating geopolitical tensions and gathered bullish momentum to start the week. As US Treasury bond yields turned south on dovish Fed expectations, XAU/USD extended its rally and snapped a two-week losing streak. GOLD BUY ; 1915 ...

Prince677

The Gold price brief recaptured the key short-term descending 21-Daily Moving Average (DMA) at $1,878 but failed to yield a daily closing above the latter. The 14-day Relative Strength Index (RSI) indicator is lying just below the midline, suggesting that the upside attempts appear temporary in Gold price. Failure to seek a weekly close above the 21 DMA at...