Gold (XAU/USD) hits a nearly three-week low during the Asian session on Wednesday, with the bears now awaiting a sustained break below the 100-day Simple Moving Average (SMA) before positioning for further losses.
The US Dollar (USD) is seen prolonging its steady uptrend for the third straight day amid diminishing odds for a more aggressive policy easing by the Federal Reserve (Fed). This, in turn, is seen as a key factor undermining the non-yielding bullion.
Apart from this, hopes for a Russia-Ukraine peace deal exert additional downward pressure on the safe-haven Gold. Moving ahead, investors now look to the release of the FOMC meeting Minutes. Furthermore, Fed Chair Jerome Powell's speech at the Jackson Hole Symposium could offer fresh cues about the central bank's policy outlook.
This will play a key role in driving the USD demand in the near term and determining the next leg of a directional move for the commodity.
Source: Fxstreet
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against...
Gold prices fell more than 2% on Friday (October 17th) after hitting a record high above $4,300 an ounce, pressured by a strengthening dollar and comments by U.S. President Donald Trump that "full-sca...
Gold (XAU/USD) is on a record-breaking spree, hitting yet another all-time high near $4,380 on Friday as investors seek a reliable store of value amid geopolitical, economic and fiscal uncertainty. At...
Gold climbs in the early Asian session amid safe-haven demand spurred by new credit-fraud fears. Regional banks in the U.S. came under renewed scrutiny Thursday after Zions Bancorp said it would take ...
Gold hit a record high for the fourth straight session on Thursday, surging above $4,300 per oz as investors flocked to the safe-haven metal amid escalating U.S.-China trade tensions and the U.S. gove...
US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade escalation with China, while regional bank stocks rebounded after Thursday's sharp declines. The S&P...
Oil prices posted a slight increase on Friday (October 17th), but were close to a weekly loss of nearly 3% after the International Energy Agency (IEA) forecast a widening oversupply, and U.S. President Donald Trump and Russian President Vladimir...
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against China were unsustainable. At the time of...
Federal Reserve Governor Christopher Waller said on Thursday he's on board with another interest rate cut at the U.S. central bank's policy meeting...
US President Donald Trump said he spoke with Russian President Vladimir Putin, a day before meeting with Ukrainian leader Volodymyr Zelenskiy. "This...
Wall Street stocks fell on Thursday (October 16th), losing earlier gains as resurgent credit concerns and ongoing US-China trade tensions weighed on...
European stocks fell as investors digested the latest earnings reports and awaited the outcome of a no-confidence vote in France. Nestlé SA jumped...