Gold Drops $100 on NFP Data!
The dollar was boosted on Friday as NFP and PMI data exceeded expectations. Gold dropped below the $1900 level as the sell-off erased recent gains. With Jerome Powell giving a speech this week regarding the next move for the Fed, will a retracement ensue, or will the yellow metal drop even further? Timestamps XAUUSD 01:35 […]
Market Update – February 6 – USD & Yields higher, Yen, Stocks & Gold sink
A blockbuster NFP on Friday (571k new jobs vs 185k) & strong Services PMI (55.2 vs 50.5) has lifted the Dollar and Yields, sinking Stocks and Gold (the 3 mth Gold rally is over). YEN is weakest this morning with key “Dove” Amamiya (current deputy) a possible to take the […]
XAU/USD bounces off $1,860 support amid Fed, China concerns
Gold price snaps two-day downtrend at the lowest levels in a month. US Dollar bulls struggle ahead of Fed Chair Powell’s speech. Sino-American tussles renew as Washington shot down Chinese balloon. Gold price (XAU/USD) consolidates the recent losses as it prints mild gains around $1,875 during early Monday, printing the first positive day in three […]
XAU/USD exposes to $1,850 as yields strengthen amid hawkish Fed bets
Gold price is expected to continue its downside journey to near $1,850.00 as US yields have strengthened. The speech from Fed chair Jerome Powell will provide the likely monetary policy action ahead. Goldman Sachs sees two more interest rate hikes by the Fed in March and May. Gold price (XAU/USD) has resumed its downside journey […]
Nasdaq 100, Dow Jones, US Dollar, Gold, Jerome Powell, RBA
Recommended by Daniel Dubrovsky Get Your Free Equities Forecast Global market sentiment ended on a cautious note at the end of last week. On Wall Street, the Nasdaq 100 and Dow Jones fell -1.59% and -0.38% Friday. Still, the former ended the period in the green. Across the Atlantic Ocean, the FTSE 100 and DAX […]
XAU/USD plummets below $1890 after stunning US NFP report
Gold plunges after a solid January US NFP report. The US economy added more than 500K jobs, and the unemployment rate fell to 3.4%. Gold Technical Analysis: To the upside eyeing $1890, and downwards $1850. Gold price tumbles sharply after the US Department of Labor revealed a staggering Nonfarm Payrolls report that added more jobs […]
Wild beat on NFP pummels XAU/USD – TDS
Gold price tumbles sharply after a solid January US Nonfarm Payrolls report. A break under $1,880 would exacerbate losses, strategists at TD Securities report. Pricing for rate cuts has notably reversed weekly gains “A wild beat on NFP data is creating shocking whipsaws in recent trends. Pricing for rate cuts has notably reversed weekly gains, […]
Upside risk to XAU/USD forecast of $1,850 at year’s end – Commerzbank
Gold price surged by $30 immediately after the Fed’s meeting on Wednesday evening and reached $1,960 the following day. Economists at Commerzbank see upside risks to their XAU/USD year-end forecast of $1,850. US interest rate outlook to remain the more important driver “The US interest rate outlook is likely to remain the more important driver […]
Spot Gold Analysis. XAUUSD: $1866/1836 or $2023 in 2023?
2023.02.03 2023.02.03 Spot Gold Analysis. XAUUSD: $1866/1836 or $2023 in 2023? Piyush Ratnuhttps://www.litefinance.org/blog/authors/piyush-ratnu/ The article covers the following subjects: Analysis 06.01.2023 Accuracy Summary and Review As projected in my analysis dated 06.01.2023: If the Bullish momentum pushes Gold price across $1854 barrier, $1866 and $1888 followed by $1907 zone can be the next target for […]
Gold Price Forecast: XAU/USD on the Precipice
GOLD ANALYSIS & OUTLOOK Markets respectful of Fed’s hawkish language, USD bid. NFP and ISM Non-Manufacturing data in focus later today. XAU/USD daily close key for near term directional bias. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling […]