mark_115

mark_115 Updated 

Increasing odds of a partial US government shutdown on October 1, which poses a risk to the economy, and persistent worries about a real estate crisis in China act as a tailwind for the safe-haven precious metal. The divergent paths of the two chambers have increased the possibility that federal agencies will run out of money on Sunday. The Democratic-led US...

mark_115 Updated 

Any meaningful recovery for the Gold price, however, remains elusive in the wake of rising bets for further policy tightening by the Federal Reserve (Fed), which should act as a tailwind for the USD and the US bond yields. Traders might also prefer to wait on the sidelines ahead of the US Core PCE Price Index on Friday, which will provide fresh cues about the...

mark_115 Updated 

Gold price now seems to have found acceptance below the $1,900 mark, which, along with bearish oscillators on the daily chart, suggests that the path of least resistance is to the downside. Hence, some follow-through weakness towards retesting the August monthly swing low, around the $1,885-1,884 region, looks like a distinct possibility. Some follow-through...

mark_115 Updated 

The immediate support is now seen at the previous week’s low of $1,914, below which flloor would reopen toward the $1,910 round figure. The next relevant demand are is seen at the $1,900 mark. On the flip side, a sustained break above the 21 and 200 DMA confluence of $1,926 is needed to take on the 50 DMA at $1,929 on again. Gold buyers will then target the...

mark_115 Updated 

Gold remains on the defensive below $1,940 amid the Fed’s hawkish stance Gold price (XAU/USD) loses momentum around $1,920 during the early European session on Monday. Meanwhile, the US Dollar Index (DXY) attracts some buyers and hovers around 105.60, near the highest level since March 2023. Gold now buy 1925 Limit buy 1922 Target 1929 Target 1933 Target 1947 SL 1916

mark_115 Updated 

Gold price is capitalizing on a broad US Dollar retreat, rebounding to a critical resistance. The further recovery, however, appears elusive amid a renewed uptick in the US Treasury bond yields. The benchmark 10-year US Treasury bond yield is flirting with fresh 16-year highs of 4.511%. Later in the day, Gold traders will look forward to the US, UK and Euro area...

mark_115 Updated 

Gold price hovers around $1,930 during the early trading hours of the European session on Thursday. Investors seem to shift their focus on upcoming US data after the US Federal Reserve’s (Fed) decision on policy rates. Gold now buy 1926 Mitm buy 1922 Target 1930 Target 1934 Target 1944

mark_115 Updated 

Gold price is holding lower ground near $1,925 in the European session on Thursday. Investors seem to shift their focus on upcoming US data after the US Federal Reserve's hawkish hold on Wednesday triggered a fresh US Dollar rally. Gold now sell 1925 Limit sell 1930 Target 1921 Target 1917 Target 1900 SL 1936

mark_115 Updated 

Gold price is off the two-week high at $1,937, treading water near $1,930 early Wednesday, as buyers eagerly await the US Federal Reserve (Fed) interest rate decision for resuming the recent uptrend. Gold now buy 1929 Limit buy 1926 Target 1933 Target 1937 Target 1950 SL 1919

mark_115 Updated 

Gold price closed Monday above the all-important 50-Daily Moving Average (DMA) at $1,932, confirming a bullish reversal from three-week lows. Therefore, the further upside now opens up toward the September high of $1,953 should Gold price manage to take out the mildly bullish 100 DMA at $1,945 on a sustained basis. The 14-day Relative Strength Index (RSI)...

mark_115 Updated 

Gold bulls flirt with $1,930 resistance, focus remains on FOMC Gold price attracts some buying for the third successive day on Monday and steadily climbs back closer to the $1,930 supply zone during the Asian session. The XAU/USD might now be looking to build on its recent goodish rebound from the $1,900 round figure. Gold trade setup Gold buy 1926 Buy limit...

mark_115 Updated 

The anticipation of the Fed's dedication to a more stringent monetary policy, potentially involving additional interest rate hikes or tightening measures, is expected to discourage traders from placing bold positions on non-yield assets like yellow metal. Monetary policy decisions and the Fed's communications will remain focal points for buck movements in the near...

mark_115 Updated 

China’s Retail Sales (YoY) grew by 4.6%, surpassing expectations of a 3.0% increase in August and demonstrating an improvement from the previous month's 2.5% figure. Moreover, Industrial Production outperformed estimates by showing a growth rate of 4.5% in August, compared to a 3.7% rise in July. US Dollar Index (DXY) has retreated from its recent six-month high,...

mark_115 Updated 

Looking ahead, all eyes remain on the European Central Bank (ECB) interest rate decision, which is likely to be an interesting one. ECB President Christine Lagarde faces a tough call, as the old continent risks stagnation while inflation remains more than double the central bank’s 2.0% target. A hawkish pause, with Lagarde leaving the door open for more rate...

mark_115 Updated 

Gold price (XAU/USD) struggles for a decisive move as investors turn cautious ahead of the US Consumer Price Index (CPI) data for August. The precious metal remains on tenterhooks as market participants see headline inflation rebounding due to a strong uptick in gasoline prices. Market participants worry that upside risks to headline inflation could elevate the...

mark_115 Updated 

The 4-hour chart shows that XAU/USD could extend its decline in the upcoming hours. The pair accelerated south after breaking below the 20 and 100 Simple Moving Averages (SMAs), both around the immediate Fibonacci resistance level at $1,921.80, reinforcing the area's strength. At the same time, technical indicators have bounced modestly from their intraday lows...

mark_115 Updated 

In Monday’s trading so far, risk sentiment remains tepid following the surprisingly hawkish remarks from the Bank of Japan (BoJ) Governor Kazuo Ueda delivered over the weekend. However, the safe-haven US Dollar fails to cheer a cautious market mood, as it bears the brunt of a big figure sell-off in the USD/JPY pair. Ueda said over the weekend that the central...

mark_115 Updated 

Market participants might also prefer to wait on the sidelines ahead of China inflation data and the G20 leaders summit over the weekend. Hence, some follow-through buying is needed to confirm that the recent pullback from a one-month peak, around the $1,953 area touched last Friday, has run its course. Bears, on the other hand, might still wait for a sustained...