Gold prices have been trading in a narrow range of $1,950-1,980 for almost a week. This comes after the prices dropped below $2,000 level due to the uncertainty around the US default. C opper prices have hit a six-month low due to weakening demand and global manufacturing activity. The metals market has been under pressure as the US dollar has strengthened, with...
The price of gold is hovering near a seven-week low due to the recent downtrend. The strength of the USD is causing this, as optimism about the United States debt ceiling talks and hawkish Federal Reserve comments are supporting the currency. Additionally, recent challenges to US debt limit extension and a US-Taiwan trade deal are causing the XAU/USD price to...
Gold price has broken short-term support and hit a multi-day low due to stronger US Treasury bond yields and the US Dollar. The Federal Reserve officials' hawkish bias and the US debt ceiling concerns are contributing to this trend. Bearish signals from the Moving Average Convergence and Divergence (MACD) indicator and a two-month-old bearish triangle pattern...
Gold sold off on Friday, but the bulls managed to fend off the attack on the psychological $2,000 level, allowing the price to establish a base and recover on Monday, a sign signal that the path of least resistance remains to the upside, with the precious metal benefiting from the uptrend. If XAU/USD remains on its bullish trajectory, and breaks out of the 2034 ...
At the end of last week's session, gold price dropped sharply to around $2,000/ounce. However, according to analysts, gold is still in an uptrend. Therefore, the price drop after the end of the week is a boon for buying investors. According to the survey, the psychology of gold investors is very familiar with the falling gold price. This partly shows that the...