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Gold Price Forecast: XAU/USD remains on the defensive above $1,800, US NFP eyed
NEWS | 10/06/2023 00:57:55 GMT | By Lallalit Srijandorn
- Gold price remains under pressure near #1,820 on Friday.
US Initial Jobless Claims last week came in below the expectation.
- Higher US Treasury yields exert some selling pressure on the gold price.
- Gold traders will focus on the US employment data due later on Friday.
Gold Price Forecast: XAU/USD rebounds near $1,830 as US Dollar pulls back
NEWS | 10/05/2023 02:03:20 GMT | By Akhtar Faruqui
- Gold price halts a losing streak due to correction in the US Dollar.
- Greenback extends losses after weaker-than-expected US employment data.
- Higher US Treasury yields beat the non-yielding assets like Gold.
Gold Price Forecast: XAU/USD sticks to modest gains near $1,925, hawkish Fed to cap the upside
NEWS | 09/22/2023 03:52:47 GMT | By Haresh Menghani
- Gold gains some positive traction on Friday and snaps a three-day losing streak to the weekly low.
- The Fed's hawkish outlook continues to underpin the USD and should cap any meaningful upside.
- Traders now look forward to the flash global PMIs and the broader risk sentiment for some impetus.
21/09/2023
Gold Price Forecast: XAU/USD recovers some lost ground above $1,920, eyes on US data
NEWS | 09/21/2023 04:06:24 GMT | By Lallalit Srijandorn
- Gold price currently trades around $1,928 after seeing a rejection from the $1,948 mark.
- The Federal Reserve (Fed) held interest rates steady at the 5.25-5.50% range on Wednesday.
- Fed is expected to hike the rate one more time this year.
- The US weekly Jobless Claims, the Philly Fed, and Existing Home Sales will be due on Thursday.
Gold Price Forecast: XAU/USD treads waters above $1,900 to retrace recent losses
NEWS | 09/14/2023 04:33:54 GMT | By Akhtar Faruqui
- Gold price holds ground above $1,900, snapping a losing streak.
- CME FedWatch Tool indicates the interest rates to remain within the range of 5.25% to 5.50% in the Fed's September meeting.
- Fed dovish sentiment is weakening the Greenback.
06/09/2023
Gold Price Forecast: XAU/USD oscillates between $1,935 and $1,915, US soft landing eyed – Confluence Detector
NEWS | 09/06/2023 05:09:00 GMT | By Anil Panchal
- Gold Price seesaws within key trading range despite the previous day’s heavy loss.
- Market’s consolidation amid China stimulus hopes, anxiety ahead of US data allow XAU/USD bears to take a breather.
- Fears of economic slowdown in Beijing contradict US soft landing chatters and weigh on the Gold Price.
- US ISM Services PMI, Fed talks eyed for fresh impulse.
Gold Price Forecast: XAU/USD remains depressed below $1,940, downside seems cushioned
NEWS | 09/05/2023 01:02:41 GMT | By Haresh Menghani
- Gold price edges lower for the second straight day on Tuesday, albeit lacks follow-through.
- The optimism over more stimulus from China continues to weigh on the safe-haven metal.
- Bets that the Federal Reserve will pause its rate-hiking cycle should help limit the downside.
04/09/2023
Good start of the week for Asia!
Asian stocks rally on easing rate hike fears, China stimulus hopes By Investing.com Asian stocks rally on easing rate hike fears, China stimulus hopes
Gold price falls back on steady labor demand and higher factory activities
NEWS | 09/01/2023 14:21:00 GMT | By Sagar Dua
- Gold price faces pressure as marginally weak US NFP and higher manufacturing PMI
- The US jobless rate rose to 3.8%. Fresh payrolls were 187k, outperformed expectations.
- ISM Manufacturing PMI data for August outperformed expectations of 46.3, landing at 46.8 but remained lower than the former reading.
Gold Price Forecast: XAU/USD remains below $1,950 level as traders keenly await US NFP
NEWS | 09/01/2023 03:13:48 GMT | By Haresh Menghani
- Gold price struggles to capitalize on its modest intraday uptick to the $1,945 area on Friday.
- Bets for one more rate hike by the Federal Reserve continue to act as a headwind for the metal.
- Investors now await the release of the US NFP report before placing fresh directional bets.
29/08/2023
Gold Price Forecast: XAU/USD nears key $1,940 resistance amid US data focus – Confluence Detector
NEWS | 08/29/2023 06:21:20 GMT | By Anil Panchal
- Gold Price remains firmer around two-week high as bulls cheer softer US Dollar, cautious optimism.
- US Dollar traces downbeat yields amid uncertainty about Fed’s next moves and anxiety ahead of Consumer Confidence data.
- Hopes of more stimulus from China add strength to XAU/USD run-up after snapping the four-week losing streak.
- Gold Price approaches key upside hurdle as top-tier US statistics loom.
Here is how it looks on the tool
Gold Price Forecast: XAU/USD sits near two-week top, around $1,920 ahead of Jackson Hole
NEWS | 08/24/2023 02:33:31 GMT | By Haresh Menghani
- Gold price gains some positive traction for the fourth successive day on Thursday.
- Concerns about a deeper global economic downturn lend support to the XAU/USD.
- The emergence of some US Dollar buying might cap any further gains for the metal.
Gold Price Forecast: XAU/USD struggles near multi-week low, around $1,910 region
NEWS | 08/14/2023 01:47:30 GMT | By Haresh Menghani
- Gold price slides to its lowest level since July 7 during the Asian session on Monday.
- Bets for more rate hikes by Federal Reserve underpin the US Dollar and exert pressure.
- China's economic woes and geopolitical risk could limit losses for the safe-haven metal.
Gold Price Forecast: XAU/USD drops back closer to $1,930 level amid stronger US Dollar
NEWS | 08/08/2023 02:28:36 GMT | By Haresh Menghani
- Gold price drifts lower for the second straight day and is pressured by modest US Dollar strength.
- Bets for more rate hikes by the Federal Reserve turn out to be a key factor underpinning the buck.
- Traders might wait for the US consumer inflation data on Thursday before placing directional bets.
04/08/2023
Gold Price Forecast: XAU/USD bears stay hopeful below $1,955 – Confluence Detector
NEWS | 08/04/2023 03:29:09 GMT | By Anil Panchal
- Gold Price portrays corrective bounce at multi-day low as market prepares for US employment data.
- Retreat in US Treasury bond yields from worrisome levels adds strength to XAU/USD rebound.
- China stimulus talks, mixed US data also keep Gold buyers hopeful but economic fears, hawkish Fed concerns challenge XAU/USD upside.
- Strong US NFP and CPI needed to confirm September Fed rate hike and propel Gold Price toward $1,955 hurdle.
Here is how it looks on the tool
Gold Price Forecast: XAU/USD remains confined in a narrow range below the $1,950 level
NEWS | 08/02/2023 04:38:20 GMT | By Lallalit Srijandorn
- Gold price oscillates in a narrow range below $1,950, gaining 0.2% as the market turns cautious.
- Fitch downgraded the US government's credit rating from AAA to AA+, fueling concern about the US debt ceiling crisis.
- The escalating tensions between the US-China might exert some pressure on the US Dollar.
- Market participants await the US ADP Employment Change, the US-Sino relationship.
Gold Price Forecast: XAU/USD sticks to modest gains around $1,950 area, lacks follow-through
NEWS | 07/28/2023 02:41:43 GMT | By Haresh Menghani
- Gold price regains positive traction on Friday, though the upside potential seems limited.
- Looming recession risks, the worsening US-China relations lend support to the XAU/USD.
- The hawkish outlook by major central banks should cap any meaningful upside for the metal.
27/07/2023
Gold Price Forecast: XAU/USD bulls cheer $1,965 breakout ahead of US GDP, ECB – Confluence Detector
NEWS | 07/27/2023 03:38:02 GMT | By Anil Panchal
- Gold Price renews weekly top during three-day uptrend.
- Fed fails to impress US Dollar buyers despite 0.25% rate hike, showing readiness for further tightening in September.
- China data, hopes of witnessing slower US GDP growth numbers propel XAU/USD ahead of eventful days.
- ECB needs to defend hawks to keep Gold buyers hopeful of crossing $1,985 key hurdle via softer USD.
Here is how it looks on the tool
26/07/2023
Gold Price Forecast: XAU/USD stays below $1,985 hurdle ahead of pivotal Fed decision – Confluence Detector
NEWS | 07/26/2023 05:20:35 GMT | By Anil Panchal
- Gold Price fades bounce off one-week low amid market’s pre-Fed anxiety, China concerns.
- China-inspired optimism also dims as fears of Sino-US tussle reignite.
- Mixed data underpins dovish bias for US central bank but FOMC has always been a fighter.
- Fed Chair Powell’s speech can fuel Gold price on confirming policy pivot chatters.
Here is how it looks on the tool
24/07/2023
Boost up during data announcement!
Dollar edges up against euro, central banks in focus By Reuters Dollar edges up against euro, central banks in focus
23/07/2023
What's up this week?
Top 5 things to watch in markets in the week ahead By Investing.com Top 5 things to watch in markets in the week ahead
Gold retreats to $1,960 area on renewed USD strength
- Gold price stays on the back foot and trades in negative territory at around $1,960 on Friday. The persistent US Dollar strength weighs on XAU/USD. Meanwhile, the 10-year US Treasury bond yield retreats toward 3.8%, helping the pair limit its losses for the time being.
Gold Price Forecast: XAU/USD edges higher on softer US Dollar, remains below $1,975
NEWS | 07/21/2023 02:17:05 GMT | By Haresh Menghani
- Gold price regins positive traction on Friday, though lacks strong follow-through buying.
- A softer risk tone, along with subdued US Dollar demand, lend support to the XAU/USD.
- Bulls seem reluctant to place aggressive bets ahead of next week's central bank event risks.
Gold Price Forecast: XAU/USD hits fresh two-month peak, seems poised to appreciate further
NEWS | 07/20/2023 01:45:04 GMT | By Haresh Menghani
- Gold price catches fresh bids on Thursday and touches a two-month high during the Asian session.
- Expectations of a less hawkish Federal Reserve attract some selling around the USD and lend support.
- Economic woes, US-China tensions and geopolitical risk also benefit the safe-haven precious metal.
Gold Price Forecast: XAU/USD struggles to capitalize on intraday gains, remains below $1,960
NEWS | 07/18/2023 02:40:49 GMT | By Haresh Menghani
- Gold price attracts some buying on Tuesday, albeit lacks bullish conviction.
- A modest US Dollar weakenss is seen lending support to the precious metal.
- The uncertainty over the Fed's rate hike path caps gains for the XAU/USD.
17/07/2023
Temporary or it's coming back soon?
Dollar steadies after biggest weekly loss this year By Reuters Dollar steadies after biggest weekly loss this year
14/07/2023
Still in downtrend though!
US dollar perks up after sharp losses, but downtrend still intact By Reuters US dollar perks up after sharp losses, but downtrend still intact
Gold Price Forecast: XAU/USD sits near one-month peak, seems poised to appreciate further
NEWS | 07/14/2023 03:40:09 GMT | By Haresh Menghani
- Gold price touches a fresh one-month high on Friday, albeit lacks strong follow-through.
- The US Dollar selling bias remains unabated and continues to lend support to the metal.
- The overnight hawkish remarks by Fed's Waller act as a headwind for the XAU/USD.
12/07/2023
Gold surge high!
Dollar drops to two-month low after U.S. inflation slows By Reuters Dollar drops to two-month low after U.S. inflation slows
Gold Price Forecast: XAU/USD touches multi-week high, around $1,940 ahead of US CPI
NEWS | 07/12/2023 02:58:00 GMT | By Haresh Menghani
- Gold price continues gaining traction on Wednesday and climbs to a three-week high.
- Doubts over more Fed rate hikes to weigh on the US Dollar and benefit the XAU/USD.
- Investors now look to the US consumer inflation figures for a fresh directional impetus.