TomtradeFX

TomtradeFX

The world gold price today is listed on Kitco at $2,625/ounce, down $90/ounce compared to early this morning. Gold prices fell sharply as investors took profits after a five-session rally to a three-week high last week. Gold was also negatively affected after Donald Trump chose billionaire investor Scott Bessent as the US Treasury Secretary in the new...

TomtradeFX

After a period of accumulation, the gold price has escaped the prolonged bearish phase and is moving in a clear upward price channel. In particular, the market is recording strong buying interest in the short-term support zone of $2,650 - $2,675. This is the "key" area to push the price closer to important resistance levels. If the $2,721 threshold is...

TomtradeFX Updated 

Dear traders, Tom here! Spot gold hit a near two-week high in the Asian session as the worsening Russia-Ukraine conflict benefited traditional safe-haven assets. The weekly uptrend appears to be unaffected by bets for a less aggressive Fed easing, continued USD buying and the prevailing risk-on environment. At the time of writing, gold is hovering around $2,683...

TomtradeFX Updated 

Hello everyone, Tom here! As I predicted earlier, gold is becoming more attractive after the dollar entered a consolidation phase... currently at $2657. Accordingly, expectations of additional stimulus measures from China also supported the growth of the metal's price. The focus this week remains on the Fed's speech after signals that tensions in the Middle...

TomtradeFX Updated 

Gold prices maintained their recovery momentum on Wednesday, gaining over 70 pips early in the trading session and currently trading steadily around the 2639 USD level. While the metal is showing signs of upward movement, this momentum appears to be short-lived as the overall trend remains favorable for sellers. The primary driver is the weakening of the US...

TomtradeFX

OANDA:XAUUSD surged after the US dollar paused its rally and Russia-Ukraine tensions escalated. Spot gold ended the trading session on November 18 up $48 to $2,611/ounce, ending a six-session losing streak and escaping a two-month low. Sellers held back as US President Joe Biden authorized Ukraine to use long-range weapons supplied by the United States to strike...

TomtradeFX

OANDA:XAUUSD rose, but remained below $2,600 early on Monday, snapping a six-day losing streak. Geopolitical risks favored the safe-haven metal amid reduced demand for the US Dollar. However, expectations of a less aggressive Fed rate cut and rising US Treasury yields are likely to limit further gains for XAU. Attention is now focused on the upcoming speech by...