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Gold dropped 1% and hit a three-week low on Tuesday as the dollar firmed after relatively solid data on U.S. manufacturing and construction offset a decline in job openings to the lowest level in more than two years in June. The focus remains on Friday’s non-farm payrolls report for July, a key barometer of the health of the U.S. economy. U.S. central bankers...

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EUR/USD rose slowly this year with the early July rush to 1.1276, an anomaly quickly followed by a big correction that will likely see the pair move into a higher range from the 1.05-1.10 that held until June. Option vols are suppressed and those hedging EUR/USD might focus on shift toward a range developing around 1.08-1.13. Any drop below the 200-DMA at 1.0735...

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Gold Price (XAU/USD) begins Wednesday’s Asian session on a front foot, bouncing off the lowest levels in a week, as well as from the 200-SMA key support, as it justifies the United States government’s rate cut by the rating giant Fitch Ratings. In doing so, the yellow metal pares the previous day’s heavy losses with mild gains to around $1,950. However, the bears...

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Downbeat headlines surrounding China and India, the two biggest gold consumers, also exert downside pressure on the gold price. On Tuesday, the World Gold Council (WGC) marked a 2.0% yearly fall in the gold demand as higher interest rates by major central banks dent the physical demand of the gold. More importantly, WGC India’s regional chief executive officer...

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Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization, is on course to close out an uncharacteristically weak July lower by about 4% and stuck within familiar ranges in the low $29,000s. Month-end positioning could introduce an element of chop into the market, but bitcoin trading conditions are expected to remain fairly subdued...

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Persistent economic uncertainty created robust physical demand for gold supporting prices at record levels during the second quarter, according to the latest research from the World Gold Council. In its second quarter Gold Demand Trends, the WGC noted that gold prices saw a record average price of $1,976 an ounce, up 6% from the second quarter of 2022 and up 4%...

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European stock markets traded in a mixed fashion Monday, weighed by weak German retail sales but with investors awaiting the release of key eurozone growth and inflation data. At 03:55 ET (07:55 GMT), the DAX index in Germany traded largely flat, the CAC 40 in France climbed 0.1%, while the FTSE 100 in the U.K. traded 0.2% lower. Key eurozone data in...

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Gold Price (XAU/USD) holds onto Friday’s recovery from more than a two-week low while picking up bids to $1,960 amid the early hours of Asian morning on Monday. In doing so, the XAU/USD justifies Friday’s downbeat US inflation clues and justifies weekend headlines from China, as well as dovish comments from Federal Reserve (Fed) Bank of Minneapolis President Neel...

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Gold prices are solidly lower and hit a two-week low in midday U.S. trading Thursday. Silver is down sharply, too. Modest overnight gains in both metals were erased after the release of upbeat U.S. economic data this morning that beat market expectations. August gold was last down $27.10 at $1,943.00 and September silver was down $0.645 at $24.325. U.S. economic...

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EUR/USD: Retail trader data shows 51.68% of traders are net-long with the ratio of traders long to short at 1.07 to 1. In fact, traders have remained net-long since Jul 06 when EUR/USD traded near 1.09, price has moved 0.95% higher since then. The number of traders net-long is 3.24% higher than yesterday and 61.51% higher from last week, while the number of...

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Bitcoin (BTC) held above $29,000 early Friday, while Japanese and U.S. government bond yields rose after the Bank of Japan (BOJ) maintained low-interest rates, but announced a slight hawkish tweak to its liquidity-boosting bond-buying program called yield curve control (YCC). The central bank retained the short-term interest rate target at 0.1% and the YCC's...

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Gold prices held near two-week lows on Friday after strong U.S. economic data spurred the dollar and bond yields in a high interest rate environment that dragged the non-interest-bearing metal towards its biggest weekly decline in five. Spot gold was up 0.3% at $1,951.19 per ounce by 0249 GMT, after earlier hitting its lowest level since July 12 and ending 1.4%...

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Gold prices rallied over the past 24 hours heading into Wednesday’s highly anticipated FOMC rate decision. Chairman Jerome Powell and company are widely expected to raise benchmark lending rates to a zone of 5.25% - 5.50% following a pause at the previous meeting. This has been amidst US economic resilience to this monetary tightening cycle. According to the Citi...

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Gold prices were left slightly higher in the aftermath of Wednesday’s rate hike from the Federal Reserve. The most meaningful development from the central bank was not the widely anticipated tightening, but rather commentary from Chair Jerome Powell that most officials do not envision a recession in the horizon, underscoring expectations of a soft landing. With...

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Amidst the US Federal Reserve's latest policy meeting on Wednesday, Bitcoin price finds itself in a consolidation phase near the $29,300 mark. The much-anticipated announcement revealed a 25 basis points (bps) increase in the policy rate, setting the federal funds rate within the range of 5.25% to 5.5%. As the decision aligns with market expectations,...

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The gold market is holding on to solid gains as the Federal Reserve is playing its cards close to its chest, saying that future monetary policy will continue to depend on data. In the press conference following the central bank's decision to raise interest rates by 25 basis points, Powell said that at this point, the committee is just as likely to raise interest...

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Bitcoin (BTC) remains stuck to the south of the $29,000 level amid a lack of fresh positive catalyst to sustain the bullish momentum that saw it hit fresh yearly highs around $31,800 earlier this month. The cryptocurrency is for now holding to the north of its 50-Day Moving Average at $29,100 as Wednesday’s US Federal Reserve policy announcement looms. Markets...

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Comments from Fed Chairman Jerome Powell on Wednesday in a press release following the Fed rate decision may offer some insight about the central bank's plans for further interest rate hikes. Although the Fed left rates on hold in June after delivering 10 consecutive interest-rate hikes, the central bank is widely expected to raise rates by another 25 basis...