SantaTradeGold

SantaTradeGold Updated 

Gold rebounded to $2,040 following a decline in US unemployment claims, with focus shifting to key economic data next week. Over the past week, gold prices fell to $2,020 following PMI data and US unemployment claims on Thursday but then recovered to $2,040 heading into the weekend. In the context that Fed officials are not yet ready to cut interest rates and the...

SantaTradeGold Updated 

Investors will be waiting for economic data with a big impact on the US next week: core PCE data - the Fed's favorite inflation measure. Core PCE is forecast to increase 0.4% in January, pushing the annual figure down from 2.9% to 2.7%. However, traders should not be surprised if these numbers suddenly increase considering previous CPI and PPI...

SantaTradeGold Updated 

Gold rebounded despite FOMC meeting minutes maintaining "hawkish" stance World gold prices were not negatively affected in the context that this morning's FOMC meeting minutes did not create a surprise for the market. During the February 21 session, gold prices increased to $2,031 as the USD weakened in the context of investors cautiously waiting for the FOMC...

SantaTradeGold Updated 

Although gold prices increased slightly yesterday, they adjusted back down early this morning. Gold prices continued to recover during the session on February 20, approaching the resistance level at $2,030. However, this morning the gold price had a slight correction and is currently trading around the construction level of $2,026. Gold's rise is currently being...

SantaTradeGold Updated 

Gold benefits when Middle East geopolitical tensions escalate, the market waits for the FOMC meeting minutes and CPI report to determine the outlook. During the February 19 session, gold rose to nearly $2,023 as Middle East geopolitical tensions persisted but then fell back as the USD recovered. In the context of investors maintaining caution, precious metals are...

SantaTradeGold Updated 

Gold continues to be under pressure from strong economic data Gold had a volatile week after a series of US economic data rose above estimates Gold had a volatile week with a sharp drop from $2,031 to $1,990 on Tuesday as the US CPI report beat estimates. Precious metals recovered but then sold off slightly on Friday when US PPI data also increased more than...

SantaTradeGold Updated 

Gold fell in price in the first half of the day, rebounding slightly before Wall Street opened but continuing to decline afterward. XAU/USD trades near a new February low at $2,011.97 despite reduced USD demand. In the absence of much important data, the focus lies on the speeches of Federal Reserve (Fed) officials. Central bankers continued to point out that...

SantaTradeGold Updated 

Gold fluctuated slightly as markets remained cautious in a week with few important data Gold prices have not had many strong fluctuations as the market waits for new catalytic factors on the precious metal. During the February 6 session, gold prices mainly traded in the range of $2,023 - $2,029 before rebounding to $2,036 at the end of the day when the USD's...

SantaTradeGold Updated 

Gold prices extended their decline after the PMI report exceeded estimates and the Fed is not yet ready to start the policy easing process. During the February 5 session, gold prices fluctuated strongly, rising to $2,039 but then falling sharply to $2,015 after US PMI data increased beyond estimates, showing the resilience and stability of the US labor market....

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Gold regained momentum and climbed to its highest since early January above $2,060 before falling sharply on Friday. Comments from Federal Reserve (Fed) officials could influence precious metals pricing next week in the absence of much key economic data. Gold increased more than 0.5% on Monday, benefiting from escalating geopolitical tensions and falling US...

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The Federal Reserve ended its first meeting of 2024 with a decision to leave interest rates unchanged. The FOMC also abandoned its tightening stance but said it would not consider cutting borrowing costs. Chairman Powell said that officials are not confident enough in the data to pivot at the next meeting. Although the possibility of a rate cut in March has...

SantaTradeGold Updated 

After the Fed's interest rate decision last night, gold prices had a slight adjustment but immediately increased again this morning. During the January 31 session, world gold prices at times rose to the previous resistance zone at $2,055.9 but after Fed Chairman Jerome Powell's speech, gold prices returned to the $2,039 threshold. However, this morning the...

SantaTradeGold Updated 

Gold prices are currently trading around $2,030 on Tuesday morning as the market awaits US jobs data and tomorrow's FOMC meeting. Gold prices are currently trading around $2,030 on Tuesday morning amid the effects of geopolitical tensions in the Middle East and market expectations about interest rates ahead of the FOMC meeting. Currently, traders are still...

SantaTradeGold Updated 

World gold prices traded in range at the beginning of the week as investors awaited upcoming important economic data reports. Over the past week, gold has had strong fluctuations, rising to $2,034 and then falling to $2,012 following the PMI release on Thursday. After that, gold mainly traded within the $2,014 - $,2,024 price range from the weekend until now....

SantaTradeGold Updated 

Gold prices swept two-way after the announcement of US GDP, falling to $2,014 but then recovering and ending the session at $2,017. The market is now awaiting upcoming PCE data to determine the Fed's next move. During the January 25 session, world gold prices dropped to $2,014 after the fourth quarter US GDP report was higher than expected, showing that the...

SantaTradeGold Updated 

The USD and Gold futures fell as investors waited for two important economic reports USD and gold both fell today as investors waited for two important economic reports later this week. Tomorrow the US Q4 GDP report will be released and will be followed by the PCE report for December on Friday. On Thursday, the Commerce Department will release its initial GDP...

SantaTradeGold Updated 

Gold prices stabilized as the market awaited the meeting of major central banks this week. After last week's decline, gold prices are stabilizing as the market awaits central banks' interest rate decisions and upcoming economic data with resistance currently located at $2,040. In case the resistance cannot be overcome, gold could be pushed towards the $2,005...

SantaTradeGold Updated 

Slightly lower as economic data continues to improve, awaiting interest rate decisions from central banks. Gold prices fell slightly today as the market lowered expectations for interest rate cuts and the US stock market recovered. During the January 22 session, world gold prices decreased slightly when US economic data was better than expected and the market...