Gold rises as the dollar falls in anticipation of the Fed’s decision
Gold rises as the dollar falls in anticipation of the Fed’s decision The dollar index fell 0.2 percent on the day after hitting a near two-decade high the day before, while benchmark US 10-year Treasury yields also fell from multi-year highs. According to Saxo Bank analyst Ole Hansen, gold is trapped between “those focusing on […]
Investors expect a major Fed rate hike; gold is higher on lower yields
Investors expect a major Fed rate hike; gold is higher on lower yields Weaker Treasury yields raised gold prices from near one-month lows on Wednesday, ahead of a possible aggressive interest rate hike by the US Federal Reserve to combat inflation amid rising fears of an oncoming recession. As of 0229 GMT, spot gold was […]
Despite growing hawkish Fed bets, XAU/USD remains steady near $1,880
Despite growing hawkish Fed bets, XAU/USD remains steady near $1,880 Despite rising predictions on the Federal Reserve (Fed) taking an extreme hawkish posture this week, gold price (XAU/USD) is bouncing in a small range of $1,868.92-1,879.25 in the early Asian session. Following the announcement of the US Consumer Price Index (CPI) on Friday, the precious […]
Beijing’s COVID warning and inflation fears resulted fallen in prices of Oil
Beijing’s COVID warning and inflation fears resulted fallen in prices of Oil On Monday, oil prices fell more than $2 as a flare-up in COVID-19 cases in Beijing dampened prospects for a quick increase in China’s fuel demand, while concerns about global inflation and economic development weighed on the market. By 0033 GMT, Brent crude […]
XAU/USD is at a crossroads, and US inflation is the key
XAU/USD is at a crossroads, and US inflation is the key Gold Price found strong bids just below $1,842 and mounted a nice return to close a stormy Thursday with minor losses at $1,848. The shiny metal remained turbulent, but stayed within its usual price range of $1,850. Financial markets were dominated by risk-off flows. […]
XAU/USD closes in to the golden ratio of 61.8 percent
XAU/USD closes into the golden ratio of 61.8 percent In Asia, the price is attempting to break below the 50% mean reversion line, exposing the 61.8 percent Fibo target of $1,850 once more. Following a move into the 50 percent mean reversion level of the hourly bullish impulse highlighted in earlier trading, the gold price […]
On constrained supply, oil rises 1%, with US crude hitting a 13-week high
On constrained supply, oil rises 1%, with US crude hitting a 13-week high On Tuesday, oil prices rose by around 1%, with U.S. crude settling at a 13-week high due to supply concerns, including the likelihood of no nuclear deal with Iran and forecasts for demand growth in China, which is reducing pandemic lockdowns. According […]
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite In Monday’s session, oil rose to near three-month highs above $120 a barrel before falling on profit-taking and concerns about the impact on the US economy of record fuel prices in a country already grappling with 40-year high inflation. […]
US jobs report indicates more rate hikes are on the way, gold prices are rising
US jobs report indicates more rate hikes are on the way, gold prices are rising Even as the US jobs report suggested additional interest rate hikes this year, gold was up in Asia on Monday morning, putting pressure on non-yielding bullion. By 10:26 p.m. ET, gold futures were up 0.32 percent to $1856.20. (2:26 AM […]
OPEC prepares to establish new output targets, oil prices are rising
OPEC prepares to establish new output targets, oil prices are rising Oil prices have climbed ahead of the OPEC cartel of oil-producing nations’ meeting on Thursday, as ministers prepare to establish output targets for July in their first meeting since the European Union slapped sanctions on Russian petroleum. Some members of OPEC are pressuring the […]
Ahead of the Manufacturing PMI, XAU/USD is expected to fall
Ahead of the Manufacturing PMI, XAU/USD is expected to fall In the New York session, the gold price (XAU/USD) broke down from its prior consolidation in a $1,846.20-1,864.16 range. The precious metal has been very volatile as investors prepare for the Federal Reserve (Fed) to increase the scope of its aggressive stance in June. Inflationary […]
Crude Oil Climbed Whether Russia’s Oil Imports Will Be Banned by the EU
Crude Oil Climbed Whether Russia’s Oil Imports Will Be Banned by the EU Crude oil closed yesterday at 9080, up 2.06%, as traders awaited news on whether the European Union would agree to an embargo on Russian oil imports. On Monday and Tuesday, the EU will gather to consider the sixth package of sanctions against […]
Dollar falls, Gold prices rise in range-bound trade
Dollar falls, Gold prices rise in range-bound trade Gold prices rose in turbulent trading on Monday, bolstered by a weaker dollar, which boosted greenback-priced metal, though gains were limited as some investors shifted to riskier Asian assets. As of 0152 GMT, spot gold was up 0.2 percent at $1,856.86 per ounce. Gold futures in the […]
Global oil prices have risen again as EU negotiates with Hungary
Global oil prices have risen again as EU negotiates with Hungary Oil prices increased on Thursday, extending a cautious advance this week on signals of constrained supply, as the European Union (EU) negotiates with Hungary over plans to prohibit imports from Russia, the world’s second-largest crude supplier, following its invasion of Ukraine. At 0142 GMT, […]
On the back of the Fed Minutes, sellers of XAU/USD are targeting $1,848
On the back of the Fed Minutes, sellers of XAU/USD are targeting $1,848 During Wednesday’s Asian session, the gold price (XAU/USD) posts its first daily loss in five days, dropping to an intraday low of roughly $1,860. The recent weakness of the metal could be linked to the US dollar’s recovery from a monthly low […]
Gold prices fall as the dollar tries to recover
Gold prices fall as the dollar tries to recover Gold prices fell marginally on Tuesday as the dollar recovered slightly after a recent dip, impacting on demand for greenback-priced gold. After reaching to its highest level since May 9 of $1,865.29 on Monday, spot gold dipped 0.2 percent to $1,850.40 per ounce at 0240 GMT. […]
Oil rises as traders consider a tight fuel market and poor global growth
Oil rises as traders consider a tight fuel market and poor global growth Investors evaluated tight product markets against concerns about slowing global growth as oil prices increased at the start of the week. Following four weeks of advances, West Texas Intermediate rose beyond $111 a barrel, the longest such run since February. Prices of […]
In the idle markets, XAU/USD remains protective at $1,800
In the idle markets, XAU/USD remains protective at $1,800 As global markets battle for clear directions to extend the previous optimism, gold (XAU/USD) prices drop from intraday highs, being range-bound near $1,813-18. During a sluggish Asian session on Wednesday, the precious metal maintained its previous day’s fall from the 200-DMA. The current Fed speak is […]