The price of gold surged significantly on Friday, driven by a risk-averse sentiment stemming from escalating tensions in the Red Sea. The US and the UK responded to Houthi's attack on a US ship on Thursday, prompting a surge in gold purchases as the conflict in the Middle East intensified. Additionally, the yellow metal received a boost from the decline in US...
Happy New Year Traders! Gold surged, reaching a daily peak above $2,060, propelled by a nearly 1% decline in the benchmark 10-year US Treasury bond yield on Friday. This movement was triggered by a mixed bag of macroeconomic data releases from the US, intensifying the rally for XAU/USD. The safe-haven asset exhibited notable volatility following the release of...
HELLO TRADERS HOPE EVERY ONE IS GREAT A LOOK AT THE AUD/USD HIGHER TF PROJECTIONS FOR THE WEEK DXY DAILY BIAS * Should the DXY CONTINUE its bearish trend we looking for the AUD/USD to continue bullishly. *Bias for the DXY IS STRONGLY BEARISH hence AUD/USD WE'RE STRONGLY BULLISH Sentiment wise AUD/USD DAILY TF Similarly to the EUR/USD * We saw a Big...
Despite a slight dip on Friday, the GBPUSD charts remain poised for potential new highs. The aftermath of the U.S. Federal Reserve's dovish pivot faced resistance from New York Federal Reserve President John Williams, moderating rate cut expectations and emphasizing the central bank's commitment to tackling inflation. In this dynamic landscape, both the Bank of...
Gold price retreated and closed at the $2,000 mark for the first time since November 24, extending its losses. This decline follows the latest US employment report, indicating an improving labor market. The US Bureau of Labor Statistics reported the creation of 199K jobs, exceeding forecasts, while the Unemployment Rate dropped to 3.7%. Additionally, University of...
In this video, we delve into the recent surge in gold prices, driven by a combination of factors. On Friday, the U.S. dollar and Treasury yields experienced a decline following disappointing U.S. jobs data, solidifying expectations that the Federal Reserve will halt its interest rate hikes. The October job growth figures fell short of economists' projections, with...
Gold prices experienced a notable decline, particularly following hawkish remarks from Federal Reserve (Fed) Chairman Jerome Powell. Powell's suggestion that the Fed might not have achieved a sufficiently restrictive monetary policy to control inflation sent shockwaves through the market. This hawkish stance contradicted the earlier belief that the Fed was done...
In Friday's session, the XAUUSD experienced a slight uptick, closing the week at $1,980 after reaching a high of $1,995. However, this price increase was halted by hawkish comments from Federal Reserve officials, following the release of strong US housing data that led to a modest rise in US Treasuries. October's Housing Starts showed a 1.9% increase compared to...
The currency pair is currently consolidating just above the 1.2400 handle, grappling with recent consolidation highs. The Pound Sterling faces challenges in retaining gains made against the US Dollar (USD) last week. Experiencing a mid-week peak with a 2.25% gain against the USD, the GBP has since moderated to a more sustainable 1.65%. Despite a broader market...
The GBPUSD continues its descent, reaching the 1.2200 zone. Despite the UK's Q3 GDP surpassing expectations with a 0.6% annual expansion, the pair remains unresponsive as investors hold off for next week's crucial data releases to determine a clearer direction. On an annual basis, the UK's GDP growth of 0.6% exceeded forecasts of 0.5%. However, the nation treads...
Gold bulls triumphantly reclaimed the coveted $2,000 an-ounce threshold after a two-month struggle, driven by escalating tensions in the Middle East as investors sought refuge in safe-haven assets. Surging US debt, reaching a record $33 trillion, propelled this rally, pushing Goldspot past the $1,980 resistance level, possibly establishing a new support zone at...
On Thursday, Fed Chair Jerome Powell joined his teammates in endorsing a stable interest rate policy, providing further support for the XAUUSD. Amidst increasing geopolitical risks, with the conflict between Israel and Hamas spreading to more countries in the region, Gold extended its weekly rally and reached the $1,990 area for the first time in five months on...
Gold prices showcased an impressive rally, primarily propelled by mounting geopolitical tensions in the Middle East and the optimism surrounding the Federal Reserve's (Fed) decision to refrain from further interest rate hikes this year. The precious metal exhibited remarkable resilience, bouncing back swiftly from a knee-jerk reaction triggered by the United...
In the latest twist of events, gold prices have experienced a significant downturn, marking the second consecutive quarterly decline. This decline, which initiated in August and persisted through September, reached a pinnacle this week, marking the most substantial drop in over two years. What's particularly noteworthy is gold's relinquishment of its stronghold...
According to recent data from the UK's National Statistics, the second-quarter Gross Domestic Product (GDP) registered a 0.2% QoQ growth, aligning with the initial estimate and continuing the trend from the previous reading. Dive deep into the market dynamics as late-week price action propelled Cable back to the opening levels of the previous week, hovering around...
To ensure economic stability, the Federal Reserve has opted to temporarily halt further interest rate hikes, exemplifying their dedication to mitigating potential adverse repercussions. The aftermath of the Federal Reserve's announcement sent ripples of volatility through the gold market. Before this revelation, gold had been on an upward trajectory, firmly...
Things are heating up as the selling pressure surrounding this pair seems to be shifting gears. The US Dollar is riding high, boasting its loftiest daily close since March. What's fueling this surge? Well, it's all about the robust economic performance of the US economic docket. Let's dive into the numbers—brace yourself for some impressive stats. The Producer...
Welcome back to another exciting episode of our weekly XAUUSD technical analysis! 📈 In the ever-evolving world of forex trading, gold seems to be holding its ground around the crucial $1,900 mark. 🔒 The recent surge in the U.S. Consumer Price Index (CPI) has sparked inflation concerns, making investors wonder about the Fed's next move. 📊 This week, we'll explore...