World precious metal prices reversed thanks to the weakening of the USD. The market is starting to focus on the monetary policy meeting of the US Federal Reserve (Fed) that will take place early next week. The majority of the market thinks the Fed will pause the austerity cycle. In addition, its role as a safe-haven asset against geopolitical issues will also...
Billionaire Changpeng Zhao's fortune has evaporated $1.4 billion to $26 billion. Binance CEO Changpeng Zhao and Coinbase (NASDAQ:COIN) CEO Brian Armstrong lost billions of dollars after being sued by the United States Securities and Exchange Commission (SEC). However, the recovery of Bitcoin and other digital assets has boosted their assets by $15.4 billion since...
Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed...
Gold Price (XAU/USD) remains on the front foot around the weekly high, making rounds to $1965 during early Friday morning in Asia, after rising the most in five weeks the previous day. It should be noted that a slew of the downbeat United States economics weighed on the Federal Reserve (Fed) bets and the US Dollar to underpin the bullish bias surrounding the...
Foreign exchange strategists at JP Morgan are sellers of the Pound, saying it is only a matter of time before a more protracted pullback plays out in response to deteriorating economic growth fundamentals. The lack of GBP appreciation on the back of the shockingly high inflation print in the UK signalled that the sterling reaction function may be shifting given...
Prolonged inflation, still high interest rates, bank failures and "hard landings" are still the top concerns of hedge funds ① Major US hedge funds and family office investors warned on Wednesday that despite the resilience of the US economy, the possibility of a recession and more bank failures remain in a persistent inflationary environment. ② Stanley...
From DeFillama data, traders using Binance US withdrew US$78.48 million on June 7 from the disputed platform, although the platform has issued a statement that their funds are still intact. safe. The total value of tokens held by Binance.US on the Ethereum chain is currently $321 million, indicating outflows account for about 24% of the current TVL. Data from...
The yellow metal has kept to a tight trading range for nearly three weeks, coming under pressure from a resurgence in the dollar and treasury yields as markets speculated over the Fed’s stance on more interest rate hikes. Gold futures fluctuated between $1,940 to $2,000 an ounce, while spot gold kept to between $1,930 to $1,980 an ounce since mid-May. Spot gold...
USD/JPY lost bullish impetus in recent days after its strong rally in late May, but may soon regain positive momentum on widening yield spreads between U.S. and Japanese bonds (see chart below). This means the pair’s path of least resistance continues to be higher in the near term. In terms of possible scenarios, if USD/JPY accelerates higher in the coming days,...
The current situation, the Australian 3-year bond yield rose to 3.71%, the highest since October. Yesterday's hot details | The Reserve Bank of Australia unexpectedly raised its key interest rate by 25 basis points to 4.10%, continuing to hit a new high since 2012 and the market expected rates to stay the same. Australia's GDP is lower than before and lower than...
Yesterday, June 7, SPDR gold investment fund continued to sell 3.5 tons of gold This increases the fomo effect and golden dislocation in the frame 1955 - 1965 We warned that it looked tough at the top for gold one month ago, looking at the monthly and weekly candles. Since then, we have seen a second bearish hammer form on the monthly chart (which is also an...
Currently, gold is under pressure with the downtrend MA20 and MA50 But there hasn't been much change yet because today's nature still doesn't have any important news Nearest resistance is 1970 - 1974 and soft support zone 1957 - 1960 Today gold will still continue to sideways in this Support and Resistance bracket GOLD BUY 1955 - 1958💯💯 ✅𝖳𝖯1 1963 ✅𝖳𝖯2...
The euro fell against the US dollar again on Wednesday morning citing a significant shortfall in China's May trade balance - highlighting slowing global demand In addition, German industrial production echoed similar sentiments due to lack of forecasts and heightened fears of a recession. The euro zone economic indicators also show a slowing economy through...
Amid the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance and the SEC’s request to freeze assets belonging to Binance US, the exchange has experienced significant outflows. As of June 6, 2023, at 9 p.m. ET, Binance has seen $10.30 billion in 24-hour trade volume worldwide. According to statistics recorded by coingecko.com, a significant...
We have been watching gold for signs that its current retracement may be coming to an end. It certainly looks like it is getting closer. Monday, saw gold pullback further to eventually find support at a 1,938 low, which completed an 88.6% Fibonacci retracement (1,937). Subsequently, by the end of the day a bullish hammer reversal candlestick pattern...
Gold prices steadied on Tuesday after marking some gains in the prior session, as weak U.S. service sector data weighed on the dollar and fed into bets that the world’s largest economy was cooling. The yellow metal recovered from over two-month lows after data showed on Monday that the U.S. service sector barely grew in May, winding down months of strong growth...
Gold Market Technical Analysis Gold continues to be very noisy, initially dipping during the trading session on Monday, only to find buyers just above the $1960 level yet again. Because of this, I think it’s probably only a matter of time before we see value hunters banking and trying to pick up the dip. If we were to break down below the $1950 level, then we...
While the United States labor market report defends downside bias for the Gold Price, the policymakers’ ability to avoid the ‘catastrophic’ default keeps the metal buyers hopeful, especially amid the downside US Dollar and Treasury bond yields. Gold Price technical analysis Gold Price has a bumpy road to travel towards the south despite reversing from a...