Gold's Stability in Asian Trading Faces Challenges Amidst

16 thg 8, 2023

During the early hours of the Asian trading session, gold maintains a stable position, benefiting from the decrease in Treasury yields. This factor enhances the allure of this non-interest-bearing precious metal. Nonetheless, the potential for gold to remain in a challenging situation, often referred to as the "house of pain," persists if the ongoing sell-off in the bond market does not ease, according to an email statement by Edward Moya, a senior market analyst at Oanda. The considerable yield offered by 30-year Treasuries reduces the attractiveness of the precious metal, even amidst the unsettling impact of China's property-market struggles on global markets, Moya further explains. The current value of spot gold shows minimal variation at $1,902.14 per ounce.

XAUUSD BUY 1900-1902💯

✅ TP1: 1907
✅ TP2: 1912

🛑 SL: 1896

16 thg 8, 2023

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On Wednesday, gold prices showed no significant movement, following a previous day where they surpassed the important support level of $1,900. This surge was attributed to robust U.S. consumer spending data, which led to speculation that the Federal Reserve might continue its cycle of raising interest rates.

16 thg 8, 2023

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The July uptick in U.S. retail sales exceeded initial expectations, indicating ongoing economic growth in the early stages of the third quarter, effectively staving off the possibility of a recession.

16 thg 8, 2023

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According to a report by Goldman Sachs, international hedge funds are engaging in "aggressive" selling of Chinese stocks due to increased apprehension surrounding the nation's real estate industry and a collection of underwhelming economic indicators.

16 thg 8, 2023

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On Wednesday, the progress of gold prices came to a halt, occurring shortly after they surpassed the crucial support level of $1,900 for the first time in a month and a half. This shift was influenced by the increase in U.S. Treasury yields, driven by the anticipation that the Federal Reserve has more phases of swift monetary tightening ahead.

16 thg 8, 2023

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Running . +20pips ✔️✔️

16 thg 8, 2023

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Gold prices persist in remaining near the $1900 support level, sustaining this position after a brief downward movement observed yesterday. Nevertheless, sellers struggled to sustain their momentum, as the precious metal concluded slightly above the $1900 threshold. Of notable significance, the closure occurred below the 200-day moving average (MA) for the first time since December 2022.

16 thg 8, 2023

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Retail sales in July saw a 0.7% increase compared to June, as reported by the US Census Bureau, surpassing the consensus projection of a 0.4% rise as indicated by Marketwatch. Nevertheless, prevailing forecasts maintain the expectation that there will be no alteration to the Federal Reserve's interest rate policies for the remainder of the year.