Eurostat's final estimate, published on Thursday, confirmed that the Eurozone economy shrunk in the first quarter of 2023. The Gross Domestic Product (GDP) in the continent contracted by 0.1% compared to the previous quarter. This was in contrast to the preliminary figure which showed a 0.1% growth. The market did not expect any change. On a yearly basis, the...
TVC:GOLD Gold prices attracted some buyers near the 1945$ region, representing the 100-day Simple Moving Average (SMA), during the Asian session on Thursday and recovered part of the overnight slide to the lows. lowest in a week. XAU/USD is currently trading around the 1,945$-1,948$ area and is well maintained within a familiar trading range that has been held...
TVC:GOLD Gold prices print a three-day streak up near 1960$ as the US Dollar remains bearish early Wednesday. In doing so, the precious metal also cheered hopes for more stimulus measures by China and cautious optimism in the market amid Federal Reserve policymakers (Fed). ) no speech due to blackout before FOMC, as well as due to lack of schedule. Gold price...
TVC:GOLD Gold price is consolidating in a tight range of 1955$-1967$ on hourly scale. The precious metal has moved sideways around the 50% Fibonacci retracement level (drawn from the June 2 high at 1,985$ to the June 5 low at 1,940$) at 1,965$. The 50-period exponential moving average (EMA) at 1,950$ is providing a cushion for Gold bulls. Meanwhile, the...
Gold price in a three-day rally near $1965 as the US Dollar remained bearish early Wednesday. In doing so, the precious metal also cheered hopes for more China stimulus and cautious optimism in the market amid the Federal Reserve's (Fed) policymakers' disapproval. any speech due to a power outage before the FOMC, as well as due to a light schedule. That said, the...
Gold traders were boosted by a sluggish US Dollar, unimpressive markets and mixed China data. However, there are some challenges for gold buyers near the $1970 level as yields continue to fall. Gold price encounters many resistance levels around $1970, which makes it difficult for buyers. The immediate support is at $1955, and if the gold bears conquer this...
Gold prices have remained stagnant for the past three weeks, trading between $1,933 and $1,985 over a four-hour period. The current lack of triggering events has made it difficult for the precious metal to make any significant moves. The March 15 high marks horizontal support at $1,937.39, while the 200-period Exponential Moving Average (EMA) at $1,975.47 poses...
The price of gold is currently fluctuating within a short-term trading range and is gradually moving towards the recent support line. If the gold price falls below $1,965, then it may encounter strong resistance at $1,973, which could lead to a further decline. However, if the gold price manages to rise above $1,973, it could potentially reach the $2,000 mark in...
TVC:GOLD price received an offer to refresh the intraday low near $1959 as it reversed the early week gains amid a sluggish Asian session on Tuesday. That said, a light calendar joins the absence of Federal Reserve (Fed) policymakers' speeches due to a pre-FOMC shutdown period to limit late catalysts. . Even so, challenges to risk appetite from hawkish central...
Gold prices rose at the start of the trading week as the US dollar weakened, leading to a decline in the US Dollar Index. This resulted in other currency buyers finding gold more attractive. Gold has made a strong recovery from the $1,950/ounce support level, thanks to disappointing economic data. Gold price is consolidating in a narrow range of $1,957-1,964 on...
The future of gold does not look bright due to the strong US economy, which could lead to the Federal Reserve raising interest rates later this year. As a result, gold and silver prices fell as the US dollar and Treasury yields rose. Recent nonfarm payrolls data suggests interest rates could stay high for longer, which could drive gold prices down further. Money...
The value of gold has gone down and has broken through a bullish channel and the 200-SMA. It is currently on its way towards the yearly low of $1,932 that was marked in May. The bearish MACD signals support this downward trend. However, the RSI (14) line is in the oversold territory, indicating that there may be limited room for a decline beyond $1,932. It is...
Price TVC:GOLD extends intraday lows to extend post-NFP losses. US Dollar cheers Fed hawk bets, sentiment upset amid the sluggish session. US Factory Orders, ISM Services PMI paid attention to intraday directions. Price TVC:GOLD on the bears' sights for the second day in a row as the precious metal reclaims intraday lows near $1945, extending Monday's...
Gold prices have been steady around their weekly high and increasing slowly. Investors are optimistic about the US NFP report and lack of major events that might affect gold prices. Recent Fed predictions and hope for a US debt-ceiling deal are motivating buyers to invest in gold. The price may reach $1,992 and the area around $1,989-1990 may further motivate...
Gold is becoming a popular investment option as its value has increased while the US Dollar and Treasury yields have decreased. This may be due to the anticipation of rate cuts from the Federal Reserve, leading to a weaker currency. However, if the US non-farm payrolls data shows a strong print, it could reduce gold's appeal. Despite this, gold is expected to...
After the spot gold TVC:GOLD spiked to a high of $2,072... we note that 'The move to $2,072 lacks momentum as can be seen in the barely positive daily MACD'. However, we emphasize that spot TVC:GOLD 'is likely to move higher towards the top of the rising wedge near $2,100 before the risk of a reversal increases'. We added, 'If spot TVC:GOLD dips below...
Gold has been popular with buyers despite frustrating bears in recent days. The PMI has helped the XAU/USD maintain momentum, even with a 40% chance of a 25 bps rate hike by the Fed in June. This hike could discourage Gold buyers. If the Gold buyers remain in control, Gold could reach $1,990 or even $2,000. Immediate support will be found if the previous day's...
Gold prices remained steady this week as the US Dollar's winning streak ended and Treasury yields decreased. The US legislature is set to pass the debt ceiling deal to avoid a default. The House of Representatives passed it on Wednesday, and it now requires Congress approval. Traders are closely watching the US ISM Manufacturing PMI and its sub-indices for...