Gold (XAU/USD) traded on a sideways pattern in the early European session on Tuesday, as the commodity struggled to capitalize on its bullish momentum from the previous two sessions. It appears that the market has begun pricing in the possibility of a Democratic win in the crucial US Senate runoff elections in Georgia. The final […]
Near-zero interest rates and a bolstered economic outlook amid improving COVID-19 vaccine rollout has caused the US dollar (DXY) to slide even further, boosting demand for gold (XAU/USD). China’s Renminbi grew by about 1% in the early Asain session on Monday, as the USD/CNY falls below a 30-month low for the first time. The Chinese […]
Gold (XAU/USD) continued its sideways journey in the early European session on Wednesday, as the commodity is locked in a battle with the $1880 price point. The yellow metal could not capitalize on last week’s goodish bounce to the $1900 psychological figure amid the flourishing upbeat market risk mood. The global sentiment got more bolstering […]
Gold (XAU/USD) has renewed its daily lows in the early European session, although it lacked any follow-through strength. The precious metal is currently trading around $1885 after reaching a daily low of $1877 a few hours ago. The downward pressure on the US dollar (DXY) increased on the first day of the week, following President […]
Gold (XAU/USD) began 2020 a few dollars above $1,500 and rose to $1,700 by the end of February. The selling pressure surrounding the US dollar (DXY) was responsible for this rally. The dovish stance in the US Fed monetary policy in the second half of 2019 caused the greenback to slide against other financial assets. […]
Gold (XAU/USD) has regained stability in the mid-European session, following a sharp dip to a three-day low earlier today. The drop came just a few hours after the precious metal recorded a fresh 41-day high around $1907. The decline was majorly sponsored by the strong pickup in US dollar (DXY) demand, which tends to undermine […]
Gold (XAU/USD) capitalized on its intraday goodish climb and has now reached a new seven-day high of around $1865 in the early European session on Wednesday. The bullish move was sponsored by the persistent selling around the US dollar (DXY), which tends to bolster the dollar-denominated commodity. The greenback remained near a 30-month low as […]
Gold (XAU/USD) inched lower in the early European session on Monday and has recorded a fresh daily low of around $1825. The renewed selling pressure got sponsored by the prevailing upbeat market mood as a result of the blooming optimism over the rollout of COVID-19 vaccines by Pfizer (NYSE: PFE). Investors’ risk mood got further […]
Gold (XAU/USD) traded lower through the Asian session on Wednesday and recorded a new two-day low around $1855, although it lacked any bearish follow-through strength. The prevalent upbeat risk appetite in the market is seen as one of the major factors undermining demand for the safe-haven asset, though the lasting US dollar (DXY) weakness helped […]
