Gold (XAU/USD) continued to etch lower through the early European session on Wednesday and has just recorded a fresh six-week low around $1873 in the past few hours. Worries over a second wave of the deadly Coronavirus disease continued to bolster the US dollar’s (DXY) demand as the global reserve currency. This, consequently, was one […]
Gold (XAU/USD) appears to be trading under a depressing sentiment on Monday, following the scanty reaction to the Federal Reserve interest rate decision. Meanwhile, fresh statements from Fed officials later today might keep the yellow metal afloat as the apex bank has vowed to “increase its holdings of Treasury securities and agency mortgage-backed securities at […]
Gold (XAU/USD) etched lower through the early European session on Thursday and was last spotted trading under the $1947 resistance. Traders appeared to be disappointed with yesterday’s Federal Reserve policy statement, which showed that the bank remained committed to keeping interest rates lower for longer to help bolster inflation. With the absence of any quantitative […]
Gold (XAU/USD) climbed higher through the early European session on Wednesday and was last spotted trading within the $1960 pivot zone. The yellow metal appears to be regaining its bullish momentum as it etched closer to its two-week high yesterday. The growing weakness surrounding the US dollar (DXY) was seen as the major factor bolstering […]
Gold (XAU/USD) is trading on positive sentiment as we head into the Federal Reserve’s meeting scheduled to begin tomorrow. The uptick appears to be preparing the commodity for a breakout above its recent consolidation range. A dovish stance by FOMC officials in the two-day meeting will likely re-establish a bullish sentiment for the yellow metal. […]
Gold (XAU/USD) climbed higher on Monday and was last spotted trading within its recent consolidation range, below the $1950 resistance. The lasting bearish tone surrounding the US dollar (DXY), sponsored by the uncertainty of a US fiscal stimulus measure, is one of the major factors underpinning demand for the dollar-denominated commodity. The chances of a […]
Gold (XAU/USD) continued on a directionless bias around the $1951 resistance in the early European session. The yellow metal ran out of steam around the $1951 level after a strong $30 overnight gain. The bounce was mainly as a result of some renewed selling around the US dollar (DXY), which usually bolsters demand for the […]
Gold (XAU/USD) traded without any strong directional bias and remained in a tight range near $1930 in the early European session on Wednesday. Yesterday’s decline was met with strong support at the $1906 line (the 50 SMA on the daily chart), where it was able to facilitate a modest bounce. The bounce was likely as […]
Today was a slow day across markets as the US markets remain closed to observe the Labor Day holiday. Regardless, there appear to be some technical set-ups emerging around gold (XAU/USD). The yellow metal remained within a narrow trading range throughout the day and was last spotted trading around $1928. Gold has traded in a […]
Gold (XAU/USD) renewed its daily lows around the $1924 level in the early European session on Monday. However, there hasn’t been any significant follow-through selling. The yellow metal could not take advantage of the recent uptick in the early Asian session today, instead found fresh supply around the $1941 level. This was most likely due […]
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