XAU/USD seesaws around $1920s with traders bracing for US FOMC’s decision
Gold is subdued, though barely above its opening price, ahead of the Federal Reserve meeting. United States last week’s data justifies the Fed’s case to slow the size of interest rate increases. Gold Price Forecast: Choppy trading, still mostly sideways with traders sidelined ahead of the Fed’s decision. Gold price trades mostly sideways due to investors preparing […]
XAU/USD slips below $1930 after US PCE and UoM Consumer Sentiment
US Dollar climbs as the Federal Reserve preferred gauge for inflation, with core PCE creeping lower. According to the University of Michigan (UoM) poll, US consumers’ inflation expectations edged lower. Gold Price Analysis: The rally from $1,616.71 to $1,949.16 could end, as a doji emerged in the weekly chart. Gold price falls for the second […]
Russia to Price Silver in Gold Grams?
In this week’s Live from the Vault, Andrew Maguire reports on the accelerating adoption of a gold benchmark price for silver and commodity trades between nations, while examining the main drivers behind the current gold price rally. The lifelong wholesaler reflects on the global implications of Russia’s plan to launch its own gold-pegged stablecoin, evaluating […]
Shares of Adani-linked companies slump as Indian conglomerate issues defense to short-seller claims
Stocks of affiliated companies founded by Asia’s richest man Gautam Adani continued to fall in Mumbai markets on Friday, extending a slide after a U.S. short seller published its two-year investigation into the group’s business practices. The shares of flagship firm Adani Enterprises 512599, -18.52% sank as much as 20% and other linked companies saw […]
XAU/USD is expected to rally further – Credit Suisse
Os Tuesday, Gold XAU/USD registered its highest daily close since April. Strategists at Credit Suisse expect the yellow metal to enjoy further gains. Initial support aligns at $1,897 “Gold is expected to extend its rally to resistance next at the 78.6% retracement of the 2022 fall and April 2022 high of $1,973/98, with a fresh […]
XAU/USD struggles around $1930s, drops on buoyant US Dollar
Gold price is set to finish the week around $1920s after hitting a multi-month high of nearly $1938. Thursday’s US economic data was mixed, showing that the labor market is far from portraying an upcoming recession. Gold Price Analysis: The 100-DMA crossed above the 200-DMA, further cementing the upward bias. Gold price retreats from multi-month […]
XAG/USD reached a new two-day high but fell short of $24.00
XAG/USD stays firm and climbs as the US Dollar remains offered across the board. Silver Price Analysis: Range-bound but could turn bullish above $24.50; otherwise, it could re-test the 50-DMA. Silver price extended its gains for the second consecutive day, cleared Thursday’s daily high of $23.93, and held its ground above the 20-day Exponential Moving Average […]
Silver to perform well as investors look for cheaper alternatives to Gold – ANZ
Silver prices have risen by 27% since mid-October 2022. Economists at ANZ Bank expect XAG/USD to perform well in 2023. Silver should not be ignored “We expect prices to correct in the short-term, but fundamentals are likely to be supportive over the next 12 months.” “The supply-demand balance looks strong. The growing adoption of green […]
Gold ticks higher, heading for 5th straight weekly advance
Gold ticked higher early Friday, with the yellow metal on track for a fifth straight weekly gain as investors monitor falling bond yields and fears of an economic downturn.Price action Gold for February delivery GC00, +0.10% GCG23, +0.10% rose $6, or 0.3%, to $1,930 an ounce on Comex, on track for a weekly rise of […]
U.S. industrial output falls sharply in December, sparking talk of factory ‘recession’
The number: U.S. industrial production fell 0.7% in December, the Federal Reserve reported Wednesday. It is the biggest monthly decline since September 2021. The decline was steeper than economists expectations of a 0.1% decline, according to a survey by The Wall Street Journal. Output in November was revised down to a 0.6% drop, much worse […]