Gold tumbles after failing to break $2,531 resistance, closing at $2,493 as Fed rate cut speculation intensifies. US Nonfarm Payrolls missed estimates, but improved figures and rising hourly earnings fueled uncertainty over a 25 or 50 bps cut. Despite falling Treasury yields, the US Dollar Index recovered above 101.00, pressuring Gold prices further. Gold retreated […]
Fundamental Overview Gold has been rallying steadily this week since bouncing from the bottom of the recent range. The soft US Job Openings on Wednesday gave it the tailwind to push into the key resistance around the 2530 level. This move has been driven by falling real yields as the softer US data caused the […]
Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed’s cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders’ bets on a 25 bps rate cut rise to 69%; odds for a 50 bps reduction fall to 31%, per CME FedWatch Tool. Gold prices tumbled […]
Gold price drops in Friday’s early Asian session. The stronger US GDP growth drags Gold price lower, but rising Fed rate cut expectations might help limit its losses. All eyes are on the US PCE inflation data, which is due later on Friday. Gold price (XAU/USD) loses momentum amid the firmer US Dollar (USD) on […]
Gold is rising as markets digest disappointing Nvidia earnings, now a macro event given the company’s size and importance. A revival of Chinese demand for the precious metal further supports the price. Technically, XAU/USD trends sideways, with odds still favoring an eventual break higher given the broader uptrend. Gold (XAU/USD) trades about half a percent […]
Gold is correcting back as the US Dollar recovers from year-to-date lows. Mixed US economic data is making the market cautious about whether the Fed will cut by 0.50% in September. The heavy long positioning in Gold is a further headwind for bulls trying to push the price higher. Gold (XAU/USD) exchanges hands just above […]
Gold price edges lower in Monday’s Asian session. Fed’s rate cut expectation and ongoing geopolitical tensions continue to underpin Gold price. The US July Durable Goods Orders are due later on Monday. The Gold price (XAU/USD) trades with mild losses near the $2,500 psychological support on Monday. However, the downside of the precious metal might […]
Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to […]
Gold price edges higher and moves away from the weekly low touched on Thursday. Dovish Fed expectations prompt fresh USD selling and continue to act as a tailwind. Geopolitical risks further act as a tailwind ahead of Fed Chair Jerome Powell’s speech. Gold price (XAU/USD) fell more than 1% on Thursday as bulls opted to […]
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Gold takes a pause in its rally ahead of key data and speeches at the Jackson Hole central banker symposium. Weak US data signals an imminent fall in US interest rates and continues to be broadly supportive of Gold. Technically, XAU/USD still has not reached its minimum upside target after its breakout from the range. […]
Gold prices fell in Philippines on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 4,512.63 Philippine Pesos (PHP) per gram, down compared with the PHP 4,527.93 it cost on Monday. The price for Gold decreased to PHP 52,634.40 per tola from PHP 52,812.93 per tola a day earlier. Unit measure […]
