Gold Price Plunges to March Low on Elevated Fed Rate Expectations
Gold Price Plunges to March Low on Elevated Fed Rate Expectations The price of gold has sharply declined, hitting its lowest level since March due to expectations of a Federal Reserve interest rate increase. The Fed’s concerns about persistent inflation and the possibility of another rate hike in 2023, combined with strong US macroeconomic data, […]
US Dollar holds steady to start week, eyes on central bank speak
US Dollar holds steady to start week, eyes on central bank speak The US Dollar (USD) holds steady early Monday after having suffered large losses against its major rivals last week. Stock and bond markets in the US will be closed in observance of the Juneteenth holiday. The European economic docket will not be featuring […]
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision Gold price once again attracts some buyers near the 100-day Simple Moving Average (SMA) on Wednesday and recovers a part of the previous day’s slide to the weekly low. The XAU/USD sticks to its modest intraday gains heading into the European session and currently trades […]
XAU/USD bears approach $1,930 support on upbeat US Dollar
XAU/USD bears approach $1,930 support on upbeat US Dollar Gold Price (XAU/USD) stays on the bear’s radar for the second consecutive day as the precious metal renews intraday low near $1,945, extending the post-NFP losses amid to early Monday amid firmer US Dollar and the Treasury bond yields. That said, the US Dollar Index (DXY) […]
Gold Price Forecast: XAU/USD could rebound to $2,005 if 50 DMA support holds
Gold Price Forecast: XAU/USD could rebound to $2,005 if 50 DMA support holds Gold price is replicating the moves seen in Wednesday’s Asian trading, making headways for a minor recovery toward $2,000 early Thursday. The retreat in the United States Dollar (USD) and the US Treasury bond yields supports Gold price. US Dollar steadies as […]