Florence_scalping

Florence_scalping Updated 

Fresh buyers have once again shown interest in the price of gold, just slightly above the $1,900 level. As a result, sellers of gold will need to break through this level in order to start a new downtrend towards the stable support at $1,885. If the price falls further, it is expected that buyers will step in around the round level of $1,870. The downside seems...

Florence_scalping

On Wednesday, markets continue to exhibit caution, influenced by the negative performance of Wall Street in the previous session. This downward trend was primarily driven by declines in Apple and Oracle shares. Investors are carefully considering the potential impact of hawkish expectations surrounding both the European Central Bank (ECB) and Bank of Japan (BoJ)....

Florence_scalping Updated 

Despite a market environment that is cautious and risk-averse, the retracement of the US Dollar is gaining momentum. Traders are choosing to secure their profits on their long USD positions in anticipation of China's inflation data release and the upcoming G20 leaders summit on Saturday. Furthermore, starting from Saturday, the US Federal Reserve (Fed) will enter...

Florence_scalping Updated 

In terms of short-term technical analysis, it is expected that the price of Gold will remain within the range defined by the horizontal 21- and 50-Daily Moving Averages (DMA), specifically at $1,916 and $1,932 respectively. This will be the case leading up to the showdown of US CPI. The 14-day Relative Strength Index (RSI) is gradually increasing but still...

Florence_scalping Updated 

The price of gold is currently benefiting from a decline in the US dollar, rebounding after reaching one-week lows of $1,915. However, there are challenges to further increases in the gold price due to rising US Treasury bond yields. Additionally, caution among gold buyers may be influenced by China's slowing consumer price index (CPI) and deflation in factory...

Florence_scalping Updated 

In terms of short-term technical analysis, there haven't been any significant changes in the Gold price. It is expected to continue its range-bound trading pattern, with the 21- and 50-Day Moving Averages (DMA) acting as key support and resistance levels at $1,917 and $1,932 respectively. This trend is likely to persist until the release of the US CPI data. The...

Florence_scalping Updated 

The price of gold is currently benefiting from a decline in the US dollar, rebounding after reaching one-week lows of $1,915. However, there are challenges to further increases in the gold price due to rising US Treasury bond yields. Additionally, caution among gold buyers may be influenced by China's slowing consumer price index (CPI) and deflation in factory...

Florence_scalping Updated 

The price of gold is currently benefiting from a decline in the US dollar, rebounding after reaching one-week lows of $1,915. However, there are challenges to further increases in the gold price due to rising US Treasury bond yields. Additionally, caution among gold buyers may be influenced by China's slowing consumer price index (CPI) and deflation in factory...

Florence_scalping Updated 

In terms of short-term technical analysis, it is expected that the price of Gold will remain within the range defined by the horizontal 21- and 50-Daily Moving Averages (DMA), specifically at $1,916 and $1,932 respectively. This will be the case leading up to the showdown of US CPI. The 14-day Relative Strength Index (RSI) is gradually increasing but still...

Florence_scalping Updated 

Despite the tech stocks rally leading to a positive close on Wall Street, Asian markets are showing cautiousness and a mixed performance. This is due to investors carefully considering recent policy guidance from the Chinese and Japanese central banks. Furthermore, traders are refraining from making new investments in anticipation of the upcoming Consumer Price...

Florence_scalping Updated 

Gold Price (XAU/USD) is struggling to maintain its recent gains after six consecutive days of decline. The price of gold has hit its lowest level in over a week, as investors search for further indications on the market's bearish outlook for the precious metal. Traders of XAU/USD are currently reevaluating the most recent data from the United States and clues...

Florence_scalping Updated 

The Gold Price (XAU/USD) is facing a challenge in maintaining its recent gains, which were the first in six days. The price has dropped to its lowest level in over a week, causing market participants to look for more evidence to support their bearish views on gold. Traders of XAU/USD are reassessing the latest economic data from the United States (US) and clues...

Florence_scalping Updated 

Furthermore, the Gold buyers face uncertainty regarding the recent US Treasury bond yields. It is important to mention that when the market is worried about a potential recession, traders tend to invest in traditional safe havens such as bonds, Gold, and the Yen. However, these same factors contribute to the US Dollar's strength, something that has been lacking...

Florence_scalping Updated 

XAU/USD remains in positive territory for the day, but is trading within a narrow range near the lowest point of the week. Additionally, the pair is unable to break through $1,921.80, which represents a 38.2% retracement from its previous slide between $1,982.15 and $1,884.77. From a technical standpoint, there is a bias towards downward movement; however, on the...

Florence_scalping Updated 

World gold price stood at 1,945 USD/ounce, up 6 USD/ounce compared to last week's closing session. Gold prices have just gone through a week of strong increases. For the whole week, gold increased by more than 1.25% in value. The gloomy US economic data released last week shows that the Fed is unlikely to raise interest rates at this month's meeting. Besides, the...

Florence_scalping Updated 

Immediately following the jobs report, the US dollar, as measured by the DXY index, fell deeper in the session, pulling lower as Treasury yields fell. Meanwhile, gold prices accelerated higher, up as much as 0.7%, supported by movements in the fixed income space. These market dynamics could gain momentum in September.

Florence_scalping Updated 

US markets are closed for a holiday on Monday The market sees a 93% chance that the Fed will hold interest rates in September. Spot gold hit its highest since August 2 on Friday. Gold edged higher on Monday, supported by a slight decline in the US Dollar market as market participants grew more confident that the Federal Reserve may be finished raising interest...

Florence_scalping Updated 

The gold market maintains its resilience in the face of significant headwinds; however, precious metals are in desperate need of a catalyst to push prices out of their current downtrend, according to some analysts. After four weeks of losses, gold is heading into the weekend with a modest gain. December gold futures last traded at $1,9410.90 an ounce, up 1.27%. ...