Turbulent Start for Gold in Asian Trading Amid Dollar Uncertaint

12 thg 9, 2023

In early Asian trading, gold is experiencing a slight decline, possibly due to a technical pullback. Gold prices showed strength overnight as the dominant dollar trade appeared to lose momentum, according to Edward Moya, an analyst at Oanda. Looking forward, Moya points out several potential catalysts for the week, such as the release of U.S. inflation and retail sales figures, the looming possibility of a United Auto Workers strike, and the European Central Bank's policy meeting, which could impact the dollar's standing. Currently, spot gold is trading 0.1% higher at $1,920.72 per ounce.


XAUUSD BUY LIMIT 1921 - 1919 🔼🔼

🟢TP1: 1925
🟢TP2: 1930

🔴SL: 1915

12 thg 9, 2023

Ghi chú

Wait Entry

12 thg 9, 2023

Ghi chú

On Tuesday, gold prices maintained a steady stance as investors anticipated the release of U.S. inflation data, which could offer fresh insights into interest rate dynamics following the Federal Reserve's willingness to consider additional policy tightening.

12 thg 9, 2023

Ghi chú

At 0306 GMT, the price of spot gold remained unchanged at $1,922.30 per ounce, while U.S. gold futures dipped slightly by 0.1% to $1,946.10.

12 thg 9, 2023

Ghi chú

ENTRY BUY

12 thg 9, 2023

Ghi chú

Market conditions are expected to remain relatively calm until the release of the U.S. Consumer Price Index (CPI) data on Wednesday, which could offer insights into the future direction of U.S. interest rates following the Federal Reserve's widely anticipated pause next week.

12 thg 9, 2023

Ghi chú

In August, Americans' general perceptions of inflation remained relatively stable, despite their expectations of increased prices for necessities like rent and food, according to a report from the New York Fed released on Monday.

12 thg 9, 2023

Ghi chú

In a statement, J.P. Morgan analysts noted that when considering the broader context, gold prices have managed to maintain their resilience, even in the face of a multi-month trend featuring a stronger U.S. dollar and elevated U.S. long-term yields.