Even though a bullish extension is not yet in sight, XAUUSD made a nice rebound. The 38.2% retracement of the $1,729.54/$1,617.12 drop, or $1,659.90, is a key Fibonacci barrier level that the daily chart reveals the advance paused before. In addition, the 20 SMA sped up its decline and is now hovering near the indicated Read More
The pain in US Treasury yields across the curve was worsened by rising anticipation that the Fed may slow down on rate hikes, which led to an extended sell-off in the dollar. The benchmark US 10-year rate dropped by about 25 basis points in just two days, approaching 4%. The American dollar suffered as a Read More
Prior to the important US Consumer Price Index, the gold price (XAU/USD) reverses the previous day’s comeback off the weekly low by accepting offers to renew the intraday low (CPI). The recent decline in the price of metal may be related to the hawkish outlook for the Fed’s next move, particularly in light of the Read More
Tuesday saw strong two-way trading for the colourful metal, but the day ended in the red, extending its five-day losing run and hitting weekly lows. Although robust dollar demand continued to favour gold sellers, a slight decline in US Treasury yields served to lessen the pain in the bullion market. After US Secretary Janet Yellen Read More
Gold prices are fluctuating in a small range over $1,700 while attempting to establish a distinct directional bias. In the lead-up to the NFP clash, investors have switched to cautious trading as the US currency hangs onto recent gains and Treasury yields. On the daily sticks, the rally to three-week highs earlier this week that Read More
The daily chart reveals that the risk is still tilted to the downside and that gold trades at the lower end of its weekly range. The price of XAUUSD, which is now around $1,618, develops significantly below bearish moving averages. The RSI has slightly recovered and is presently hovering around 30, while the momentum indicator Read More
The asset has fallen below 1.1250 on an hourly basis and is now tumbling toward 1.1210. The horizontal resistance line drawn from the low on September 16 at 1.1351 has served as a significant roadblock for the pound. Additionally, the downward-sloping trend line drawn from the high of 1.1738 on September 13 has prevented the Read More
Gold is aiming for $1,645 as the 75 bps rate hike by the Fed seems factored in. Looking ahead, despite the anticipated 75 bps hike, the Fed’s prediction of the terminal rate will still control the next leg of the gold price’s decline. As bulls and bears struggle ahead of the crucial Fed policy announcement, Read More
Since last Friday, when gold prices reached a two-year low, they have been moving within an ascending triangle shape. The top limit of the triangle, which is positioned at $1,680, is being tested by the bulls. For a triangle breakout to be confirmed, they need a four-hourly candlestick close above the latter. The $1,692 level Read More
The downturn could resume in the very near future as Friday’s positive attempt in gold prices was supported by declining open interest and volume. The 14-day Relative Strength Index (RSI) is still lurking below the midline, and the negative bias is still very much in force amid an inverted cup and handle configuration. Under the Read More
