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Sphyn-Trader Updated 

Gold price is looking to build onto its recovery and recapture the 1,900 mark, as the Greenback maintains its corrective mode from two-month highs amid mixed fundamental factors. Risk sentiment remains rather cautiously optimistic in Asia this Thursday, as traders cheer overnight gains in US tech stocks after shares of Nvidia jumped 8.5% ahead of Wednesday's...

Sphyn-Trader Updated 

Gold price struggles to capitalize on the previous day's positive move and oscillates in a narrow trading range below the 1,900 mark during the Asian session on Tuesday. The XAU/USD, for now, seems to have stalled its recent decline witnessed over the past four weeks or so, to the lowest level since March 2023, around the 1,885 region touched last Thursday as...

Sphyn-Trader Updated 

The EUR/USD pair hovers around 1.0900 ahead of Wall Street’s close, holding on to modest intraday gains. The US Dollar failed to attract speculative interest despite a generally sour mood. Asian stocks edged lower as Chinese real estate sector woes continue, while the local central bank was unable to impress. The People’s Bank of China (PBoC) cut the one-year Loan...

Sphyn-Trader Updated 

GBP/JPY marked an all-time high at 186.77 in the early trading hours of the Asian session on Tuesday. Spot price is trading around 186.50 at the time of writing. The pair retreats from the all-time high as it appeared to be a barrier. A break above that level could help the GBP/JPY pair to explore higher highs around the 187.00 psychological level.

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XAU/USD has fallen more than 7% since its 2023 peak in May. Economists at UBS analyze the role of the gold portfolio as the landscape changes.

Sphyn-Trader Updated 

Gold prices struggled to break the losing streak, walking near $1,890 per troy ounce in the Asian session on Monday. The precious metal also benefited from the US dollar's retreat, driven by the Federal Reserve's interest rate cut and risk aversion. However, Gold faced downward pressure on Friday due to optimistic US economic data, leading to cautious market...

Sphyn-Trader Updated 

Gold is facing difficulties in making significant progress on Thursday and is currently hovering close to its lowest point since mid-March, which was reached during the Asian session. The XAU/USD pair is trading around the 1,890 mark and appears to be exposed to potential risks following a bearish breakout below the crucial 200-day SMA overnight. This marks the...

Sphyn-Trader Updated 

During Wednesday's Asian trading session, gold is hovering around the 1,901 level. The previous day, concerns were raised about the possibility of the US Federal Reserve (Fed) tightening its monetary policy due to upbeat US Retail Sales data. As a result, this had a negative impact on the price of XAU/USD.

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Despite the recent increase, the price of Gold continues to be influenced by bearish technical indicators. There is a strong downward trend, with the immediate support level being at 1,890 - the lowest in five months. If this level is broken, there is further support at 1,886 which was last seen on March 15th. Should prices decline even further, they will likely...

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EUR/JPY’s break of 158.03 resistance last week confirmed up trend resumption. But as a temporary top was formed at 159.20, initial bias is turned neutral this week for some consolidations first. Downside of retreat should be contained above 155.51 support to bring another rally. On the upside, break of 159.20 will target 61.8% projection of 139.05 to 157.99 from...

Sphyn-Trader Updated 

The GBP/JPY pair continues its upward trend, despite a slight dip towards the 183.40s level at the time of writing, supported by various factors. The Ichimoku Cloud (Kumo) remains below the price levels, while the crossing of Tenkan-Sen above Kijun-Sen has opened doors for further price appreciation, as observed in Thursday's session.

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GBP/JPY takes offers to refresh the intraday low near 183.50 during the first loss-making day in six amid early Monday morning in Asia. In doing so, the cross-currency justifies the market’s sour mood amid a light calendar, as well as ignores the hawkish concerns about the Bank of England.

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The underwhelming inflation figures in the United States provided a reason for Federal Reserve policymakers to celebrate their success in tackling price pressures. However, traders were eager for more information to alleviate concerns about the shift in policy direction. These concerns were further compounded by worries surrounding China, the largest consumer of...

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The price of gold (XAU/USD) is currently facing downward pressure, hovering around 1,910 as the new trading week begins. There haven't been any significant surprises so far, and the weekend saw a lighter macroeconomic news flow. However, it's worth mentioning that XAU/USD experienced three consecutive weeks of decline in the past, marking its largest drop since...

Sphyn-Trader Updated 

Gold prices have weakened and dropped below 1920 on Friday. The yield on the 10-year US Treasury bond remains above 4.1% after data on the Producer Price Index (PPI) for July came in higher than expected, making it difficult for XAU/USD to maintain its position. Predict that gold price will continue to increase in the trend of USD recovering. Downtrend continues.

Sphyn-Trader Updated 

Hello trader, here are some information that predict gold will continue to fall to 190x The data presented indicates an increase in appetite for risk. According to the US Bureau of Labor Statistics (BLS), inflation rose by 0.2% MoM in July, meeting market expectations, while registering a 3.2% increase compared to the previous year, slightly lower than the...

Sphyn-Trader Updated 

Market participants are currently examining the economic records of the United States, which include the release of the Producer Price Index (PPI), along with preliminary consumer sentiment and inflation expectations. This, coupled with US bond yields, can impact the driving forces behind USD prices and provide some impetus for gold prices. Additionally, a broader...

Sphyn-Trader Updated 

Until now, the continuation of the upward momentum is likely to result in an immediate target emerging around 160.00 in the short term. The subsequent breakthrough will not encounter any notable resistance levels until reaching the highest point of 2008 at 169.96 on July 23. As of now, there are positive long-term prospects for the convergence of bullish and...