Hello traders. Gold price gains some positive traction on Thursday, albeit lacks follow-through. A softer risk tone benefits the safe-haven XAU/USD amid subdued USD demand. Bets for more Fed rate hikes to act as a tailwind for the buck and cap the upside.
Worries about worsening economic conditions in China, along with persistent US-China trade tensions, continue to weigh on investor sentiment. This is evident in the overall weaker trend in the stock market, and chemistry turns out to be the main factor favoring the precious metals' safe haven status.
The downside action in the US Dollar (USD) remains supportive for Gold prices, although it remains difficult to see any meaningful upside move.
⚡️Data also showed some resilience in the U.S. economy, further sapping safe haven demand for the yellow metal amid growing bets that the country will avoid a recession this year.
Ghi chú
⚡️After Unemployment Claims news, reality was smaller than forecast, good for USD, bad outlook for gold
Ghi chú
⚡️Trading still follows the trend line
Ghi chú
⚡️continue the GOLD battle
Ghi chú
⚡️Gold price attracts some buyers for the second successive day and draws support from a combination of factors.
Ghi chú
⚡️DXY's recovery pushed gold down the past few days
Ghi chú
⚡️ Gold fell below 1920
Ghi chú
⚡️US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US.
Ghi chú
⚡️Inflation, measured by the Consumer Price Index, or CPI, fell from a four-decade high of more than 9% per annum in June 2022 to as low as 3% in June this year
Giao dịch đang hoạt động
Ghi chú
⚡️The US is facing the risk of second round inflation, leaving the Fed open to raising interest rates, putting further pressure on the exchange rate
Ghi chú
⚡️Gold's booming outlook just after the Fed paused interest rates was challenged again this week as the yellow metal notched a weekly loss as its rival, the dollar, soared
Giao dịch đang hoạt động
Giao dịch đang hoạt động
Giao dịch đang hoạt động
Ghi chú
⚡️Gold price trades around $1,920 a troy ounce during the early trading hours in the Asian session on Monday. The precious metal struggles to hold ground near the previous weekly close, experiencing minor support due to the retreating in the US Dollar (USD).
Ghi chú
⚡️XAU/USD failed to break above long-term trendline resistance and is currently hovering around the 1925.06 reversal bottom. The RSI indicator shows hesitation among traders without showing any specific trend. Upcoming data releases could fuel the trend with any move to support the USD likely causing gold prices to test resistance once again
Ghi chú
⚡️In this morning's trading session, the yellow metal has had a significant increase, can gold break the 1930 barrier?
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.