Gold (XAU/USD) prices struggled to capitalize on its modest intraday uptick to the $2,600 range, albeit managed to hold in the positive territory through the early European session on Monday (18/11). Concerns over escalating geopolitical tensions, coupled with a weaker US Dollar (USD), turned out to be key factors that acted as a tailwind for the safe-haven precious metal. However, expectations of a less dovish Federal Reserve (Fed) capped gains for the yellow metal that did not deliver a balanced outcome.
Investors remain hopeful that US President-elect Donald Trump's expansionary policies will boost inflation and limit the scope for further interest rate cuts by the Fed. This remained supportive of the US Treasury bond yields and benefitted USD investors, which in turn, held traders back from placing bullish bets around Gold prices. Hence, it would be prudent to wait for a strong follow-through buying before positioning for any further recovery from the two-month lows touched last week.
Source: FXStreet
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data promp...
Gold prices strengthened on Wednesday, supported by a weaker US dollar and falling US bond yields after the latest economic data reinforced the narrative that the Federal Reserve is likely to continue...
Gold experienced a slight correction in the European session on Tuesday (February 10th), but remained above $5,000/oz as the market held its breath ahead of a series of US data that could alter intere...
Gold held above the psychological $5,000 level at the start of the week, supported by a combination of factors that are "right" for the precious metal : physical demand from China, expectations of low...
Gold prices are still struggling to turn an intraday rebound into a sustained rally. After briefly falling to $4,654 (a four day low) and rebounding, prices were again rejected near $4,900. In the Eur...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...