Gold Prices Face Downward Pressure Amidst Shifting U.S,...
"Gold prices remain under pressure, with potential for further decline as traders factor in U.S. economic data and evolving expectations regarding U.S. monetary policy," stated Bas Kooijman, CEO of DHF Capital, in a recent email commentary.
Gold futures settled at their lowest point since August 25th on Thursday. The decline continued from Wednesday, as strong U.S. economic data reinforced the belief that the Federal Reserve will maintain elevated interest rates, leading to an increase in Treasury yields and the U.S. dollar.
Société Générale strategists noted in a Thursday report, "Both a stronger U.S. dollar and higher interest rates have a bearish impact on gold, as they raise the cost of bullion for foreign investors and diminish its attractiveness as a non-interest-bearing asset."
XAUUSD SELL 1926 - 1928 🔽🔽
🟢TP: 1923
🟢TP: 1920
🔴SL: 1932
Gold futures settled at their lowest point since August 25th on Thursday. The decline continued from Wednesday, as strong U.S. economic data reinforced the belief that the Federal Reserve will maintain elevated interest rates, leading to an increase in Treasury yields and the U.S. dollar.
Société Générale strategists noted in a Thursday report, "Both a stronger U.S. dollar and higher interest rates have a bearish impact on gold, as they raise the cost of bullion for foreign investors and diminish its attractiveness as a non-interest-bearing asset."
XAUUSD SELL 1926 - 1928 🔽🔽
🟢TP: 1923
🟢TP: 1920
🔴SL: 1932
Comment:
Gold held firm above the $1,920 per ounce mark on Friday, but it remained on course to conclude the week with losses, largely attributed to the latest data indicating a robust U.S. economy. This economic strength provides the Federal Reserve with room to maintain a stringent monetary policy stance or potentially increase interest rates.
Comment:
Running +20pips 🤩🤩
Comment:
+30pips . Move SL to Entry ✅✅
Comment:
SELL AGAIN
Comment:
In the last week of August, new jobless claims in the United States dropped to their lowest point in over half a year, defying market expectations of a minor increase and conflicting with recent data indicating a potential labor market slowdown.
Comment:
Surprisingly, the ISM Services PMI in the United States surged to 54.5 in August, indicating the most robust growth in the services sector in half a year and significantly surpassing the anticipated value of 52.5.
As a result, market observers are beginning to anticipate a more hawkish stance from the Federal Reserve in its upcoming meeting, potentially signaling a forthcoming interest rate hike.
As a result, market observers are beginning to anticipate a more hawkish stance from the Federal Reserve in its upcoming meeting, potentially signaling a forthcoming interest rate hike.
