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Gold price makes a U-turn after diving to two-week lows of $2,353 edges higher some 0.80% as market participants seem secure the Federal Reserve will lower interest rates at the September meeting, following a soft inflation report. The XAU/USD trades at $2,385 after bouncing off daily lows of $2,356.
The US Bureau of Economic Analysis (BEA) revealed that the Fed’s favorite inflation gauge, the Personal Consumption Expenditure Price Index (PCE), ticked a tenth higher monthly than May’s data. It dipped as foreseen in the twelve months to June, though it’s at the brisk of hitting the Fed’s 2% goal.

Gold opened at around 2387and rose to around 2403at the highest and around 2387，w at the lowest before press time.Pay attention to the resistance of 2410-2420-2430. If it fails to break through, it will test 2380-2370-2360

XAU/USD extends its sell-off after the release of robust US data on Thursday. It is trading over a percentage point lower in the $2,370s amid widespread declines in stocks and commodities driven by global growth concerns.
Despite being a safe haven, Gold's weakness is partly attributable to technical selling, as it experiences a predicted downward movement within its trading range. Favorable US data, including preliminary Q2 Gross Domestic Product data and preliminary US S&P Global Purchasing Managers Index (PMI) data for July, released on Wednesday may have dampened growing fears of "stagflation," which is characterized by economic weakness coupled with high inflation — a scenario where Gold typically performs well.

Gold opened at around 2363and rose to around 2365at the highest and around 2361，w at the lowest before press time.Pay attention to the resistance of 2370-2380-2390. If it fails to break through, it will test 2350-2340-2330

Gold price recovered in the mid-North American session, boosted by a drop in US Treasury bond yields. This pushed the Greenback lower amid a busy Us economic docket in the week, which will feature crucial data. The XAU/USD trades at $2,404, up by 0.33%.
Wall Street trades with gains for the second straight day as market players digest last weekend's political developments in the US. Market players are eyeing the release of June’s inflation data and the preliminary reading of the Gross Domestic Product (GDP) for the second quarter of 2024.

Gold opened at around 2408 and rose to around 2409at the highest and around 2407，w at the lowest before press time.Pay attention to the resistance of 2420-2430-2440. If it fails to break through, it will test 2390-2380-2370

Gold price extends its losses for the fourth straight day yet remains hovering around $2,400, capped by rising US Treasury bond yields. The Greenback stays firm as investors diggest news that US President Joe Biden exited the Presidential race and endorsed Vice President Kamala Harris, who would like to compete against former US President Donald Trump in the November 5 elections. The XAU/USD trades at $2,397, down 0.14%.
Wall Street began the week on a positive note, which could be seen as a positive signal after Biden’s decision. Meanwhile, the US 10-year benchmark note coupon edged up two basis points to 4.26%, a headwind for the precious metal.

Gold opened at around 2396 and rose to around 2397at the highest and around 2394，w at the lowest before press time.Pay attention to the resistance of 2410-2420-2430. If it fails to break through, it will test 2390-2380-2370

Gold price sinks by more than 1.50% on Friday and hovers around $2,400 as traders book profits ahead of the weekend. The golden metal could finish the week with losses close to 1% after hitting an all-time high of $2,483 and trading at around the $2,300 handle. The XAU/USD exchanges hands at $2,399 after reaching a high of $2,447.
Trader sentiment is gyrating due to several factors. China’s economy is growing less than expected, and an increasing rumble that former President Donald Trump might win the November 5 elections boosted the Greenback, which is set to end the week with gains of more than 0.26%, according to the US Dollar Index (DXY).

Gold opened at around 2401 and rose to around 2411at the highest and around 2400，w at the lowest before press time.Pay attention to the resistance of 2420-2430-2440. If it fails to break through, it will test 2400-2390-2380

Gold prices retreated as investors took profits after the yellow metal rallied to an all-time high of $2,483 earlier during the North American session on expectations that the Federal Reserve would lower borrowing costs. At the time of writing, the XAU/USD trades at $2445, down more than 0.45%.
US jobs data revealed by the US Bureau of Labor Statistics (BLS) showed that more people than expected are applying for unemployment benefits, indicating an economic slowdown. This, added to last week’s string of data showing that inflation is aiming towards the Fed’s 2% goal, is beginning to gather policymakers' attention.
Gold opened at around 2445 and rose to around 2445at the highest and around 2441，w at the lowest before press time.Pay attention to the resistance of 2460-2470-2480. If it fails to break through, it will test 2430-2420-2410

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Gold prices retreated as investors took profits after the yellow metal rallied to an all-time high of $2,483 earlier during the North American session on expectations that the Federal Reserve would lower borrowing costs. At the time of writing, the XAU/USD trades at $2457, down more than 0.40%.
Federal Reserve officials, led by Governor Christopher Waller, crossed the wires on Wednesday. He said the time to cut the policy rate is approaching, suggesting that the most likely direction for the Fed funds rate is downwards.

Gold opened at around 2458 and rose to around 2461at the highest and around 2457，w at the lowest before press time.Pay attention to the resistance of 2470-2480-2500. If it fails to break through, it will test 2450-2440-2430

Gold prices surged to a record high of $2,469 on Tuesday, as expectations grew that the Federal Reserve would begin its easing cycle in September. That, coupled with former President Donald Trump's increased chances of winning the November election, supported the precious metal. Gold is currently trading at $2,467, up more than 1.70%.

Last week's lower-than-expected consumer inflation data pushed non-yielding metals prices higher amid a dovish pivot from the Federal Reserve. The CME FedWatch tool shows a 100% chance of a 25 basis point rate cut in September, with a small group of economists predicting a 50 basis point easing.

Gold opened near 2468, and as of press time had reached a maximum of around 2468 and a minimum of around 2466. Pay attention to the resistance of 2470-2480-2500. If it fails to break through, it will test 2460-2450-2440.

Gold prices continued to rise after three consecutive weeks of gains, but fell from their intraday highs after Federal Reserve Chairman Jerome Powell's comments failed to provide forward-looking guidance. Currently, gold is trading at $2,422, up 0.51%.

After the assassination attempt on Trump over the weekend, gold prices fell slightly at the opening on Monday, as the incident strengthened his chances of winning the November election. This boosted the US dollar, but then the possibility of the Fed cutting interest rates in September again lifted gold prices, pushing them to a seven-week high of $2,439.

Gold opened near 2422 and at the time of writing, the highest point has risen to near 2422, with a low of around 2419. Keep an eye on the resistance levels of 2430-2440-2450. If they are not broken, the 2400-2390-2380 levels will be tested.

During the US trading session on Thursday, gold prices soared significantly after the release of the Consumer Price Index (CPI) in the United States. Market analysts believed that the Federal Reserve had opened the door to interest rate cuts, resulting in a decline in US Treasury yields, which was favorable for precious metals. Gold traded at 2,414,risingmorethan1.802,371.

As the S&P 500 and Nasdaq indices fell sharply, market sentiment worsened. The 10-year Treasury yield dropped 10 basis points to 4.187%, and US yields were collapsing, benefiting gold.

Gold opened near 2,415andreachedahighofaround2,415 at the time of publication, with a low of around 23,411.Investorsshouldpayattentiontotheresistancelevelsat2,420-2,430−2,440. If these levels are not breached, it will test the support levels at 2,400−2,390-$2,380.

The Reserve Bank of New Zealand left the interest rate unchanged at 5.5% for the eighth consecutive time, in line with market expectations.

After the announcement of the interest rate decision, the New Zealand dollar plunged by nearly 30 points against the US dollar in the short term; interest rate swaps showed that the Reserve Bank of New Zealand would cut interest rates by 25 basis points in October, compared with 16 basis points before the announcement.

On Monday, the price of gold reversed, erasing some of its gains from last Friday as risk appetite rebounded, falling more than 1%. U.S. stocks rose, while U.S. Treasury yields edged lower. Gold surged to a daily high of 2,391beforeretreatingrapidlytotradeat2,358.

Last week's U.S. non-farm payrolls report was a mixed bag. June's job gains exceeded expectations, but downward revisions in April and May suggested that the U.S. job market was cooling sharply. Consequently, the U.S. unemployment rate rose, sparking speculation that the Federal Reserve may cut interest rates earlier than anticipated.

Gold opened near 2,358and,asofpresstime,hadrisentoahighofaround2,363, with a low of approximately 2,358.Keepaneyeontheresistancelevelsat2,370, 2,380,and2,390. If these levels are not breached, the price may test the support levels at 2,350,2,340, and $2,330.

After the release of the U.S. non-farm payrolls data in June, gold prices began to rebound. The overall performance of the report was weak, and the downward adjustments in the previous two months indicated that the labor market was cooling faster than the figures showed. Therefore, traders bet that the Federal Reserve would cut interest rates in September, accelerating the decline of the U.S. dollar and boosting gold prices.

The trading price of gold was 2,391,anditreboundedsharplyafterfallingtoadailylowof2,349, with a daily increase of more than 1.40% and a weekly increase of more than 2.70% last week, partly due to the weakness of the U.S. dollar, which was weakened by the decline in U.S. Treasury yields.

Gold opened near 2385 and rose to a high of near 2390 as of press time, with a low of near 2384. Keep an eye on the resistance levels of 2400-2410-2420. If these levels are not broken, it will test the support levels of 2380-2370-2360.

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On Thursday, gold prices saw minimal gains amid weak financial market liquidity, as American traders took a break for the Independence Day holiday. Recent US economic data has strengthened expectations that the Federal Reserve may begin easing policy sooner than anticipated, but policymakers remain vigilant and hope to see further progress in the anti-inflation process.

After reaching a two-week high of 2,365onWednesday,goldwastradingat2,356, up 0.15%. With the US holiday ending, traders will shift their focus to Friday's non-farm payrolls report.

Gold opened near 2356 and, as of press time, has risen to a high of around 2359 and fallen to a low of around 2354. Keep an eye on the resistance levels of 2360-2370; if these are not breached, a test of 2340-2330-2320 could follow.

On Wednesday, as the economic data released by the United States generally fell short of expectations, gold prices soared by more than 1%, increasing the bets that the Federal Reserve may cut interest rates before September. Meanwhile, the latest minutes of the Federal Open Market Committee showed that "several participants" were prepared to raise interest rates if inflation continued to rise. At the time of writing, gold was trading at $2,356.

The minutes of the Federal Reserve meeting revealed that most participants assessed the current policy as restrictive but had opened the door to interest rate cuts. Policymakers acknowledged that the economy was cooling and might respond to unexpected economic weakness.

Gold opened near 2,355andreachedahighofaround2,359 and a low of around 2,359bythetimeofwriting.Attentionshouldbepaidtotheresistanceat2,360-2,370.Ifitfailstobreakthrough,itwilltest2,340-2,330−2,320.

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In the late session on Monday, despite the weakness of U.S. economic data, the U.S. dollar still rose, driven by rising U.S. Treasury yields, while gold prices also rose against the trend. Due to the U.S. Independence Day holiday, U.S. data will be released intensively on other trading days, and gold remained at a familiar level close to $2,331, up 0.23%.

On Monday, the U.S. released business activity data for the manufacturing sector, with mixed readings. The S&P Global Manufacturing PMI was in the expansionary zone, in contrast to the ISM, which contracted for the third consecutive month in June.

Gold opened near 2331 and rose to a high of around 2333 and fell to a low of around 2331 by the time of writing. Keep an eye on the resistance at 2340-2350. If it fails to break through, it will test 2320-2310-2300.

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Gold rebounded more than 1% on Thursday, driven by mixed US data. The dollar, which has been on a downtrend on Thursday, has also led to a decline in US Treasury yields. The pullback in the dollar has boosted the rebound in gold, and currently, the gold price is hovering around $2,326.

Yesterday, gold fell to a two-week low as inflation data released by Canada and Australia showed accelerating inflation. This led to a surge in most global bond yields, especially US Treasury yields, and thus a rise in the dollar.

Gold opened near 2,327,fallingtoalowofaround2,325 and rising to a high of around $2,328 as of press time.

Keep an eye on the resistance level of 2,335−2,345. If it fails to break through, it will test the 2,320−2,310-$2,300 range.

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Driven by hawkish comments from Federal Reserve official Michelle Bowman and the recovery of U.S. Treasury bonds, gold prices plummeted after reaching a weekly high of 2,334.Currently,goldistradingat2,319, down 0.59%.

Bowman emphasized that monetary policy should remain stable "for some time," which may be sufficient to reduce inflation. She dismissed the possibility of a rate cut this year and indicated that she is willing to increase interest rates to "make progress in containing inflation or even reversing it."

Gold opened near 2319, reaching a high of approximately 2321 and a low of approximately 2319 as of press time. Keep an eye on the resistance levels of 2325-2330, and if these are not broken, it may test 2320-2315-2305.