Sheezi02

Sheezi02

Gold price dips from fresh highs near $2,430 as investors don’t see Middle East tensions escalating further. US bond yields soar as the Fed seems to initiate the rate cut cycle from September. The US Dollar exhibits strength on strong US Retail Sales data. Gold price (XAU/USD) struggles for a firm footing near $2,350 in Monday’s early New York session after...

Sheezi02

Gold price dips from fresh highs near $2,430 as investors don’t see Middle East tensions escalating further. US bond yields soar as the Fed seems to initiate the rate cut cycle from September. The US Dollar exhibits strength on strong US Retail Sales data. Gold price (XAU/USD) struggles for a firm footing near $2,350 in Monday’s early New York session after...

Sheezi02

5IG client data shows the retail crowd is betting against gold. Currently, 55.46% of traders hold net-short positions, resulting in a 1.25 to 1 short-to-long ratio. While this bearish positioning has remained largely unchanged since yesterday, it has increased by 6.15% from last week. Conversely, net-long positions have ticked up 4.14% since yesterday, even with a...

Sheezi02

Gold price trades higher, near all-time highs around $2,260. The precious metal strengthened after breaking above the prior lifetime high of $2,223 on March 21. More upside in the Gold price is possible as it is trading in an unchartered territory. All short-to-long term Exponential Moving Averages (EMAs) are sloping higher, suggesting strong near-term...

Sheezi02

Gold price clings to gains even though the upbeat US Manufacturing PMI has improved the appeal for the US Dollar. 10-year US yields rise further as traders pare Fed rate cut expectations for June. The US NFP report will guide the next big move for Gold. Gold price (XAU/USD) trades close to fresh all-time highs near $2,260 in Tuesday’s European session. An improved...

Sheezi02

Gold price trades with a positive bias for the sixth straight day and stands tall near the all-time peak. Reduced June Fed rate cut bets continue to underpin the USD and might act as a headwind for the metal. The cautious market mood, along with geopolitical risks, could lend support to the safe-haven XAU/USD. Gold price (XAU/USD) trades with a positive bias for...

Sheezi02

Gold price advances to a fresh record peak amid rising bets for a June Fed rate cut. The risk-on mood and a modest USD uptick do little to hinder the strong move up. The overbought RSI on the daily chart warrants some caution for aggressive bulls. Gold price (XAU/USD) sticks to its strong intraday gains through the first half of the European session and is...