Gold (XAU/USD) traded with a negative bias for the third consecutive day, falling to a one-week low of around $4,170 early in the European session on Tuesday. This decline lacked a clear fundamental catalyst and could be attributed to some repositioning ahead of the highly anticipated FOMC policy meeting, which begins today.
Investors will continue to closely monitor the latest economic projections, including the so-called dot plot, and Federal Reserve Chairman Jerome Powell's post-meeting press conference for clues on the path of future interest rate cuts. This, in turn, will play a key role in influencing demand for the US Dollar (USD) and providing a fresh directional boost to the non-yielding yellow metal.
Meanwhile, strengthening expectations that the US central bank will lower borrowing costs this week and speculation of further rate cuts in 2026 limited the USD's recovery from its lowest level since late October, reached last week. Furthermore, ongoing geopolitical uncertainty stemming from the protracted Russia-Ukraine war could boost gold's safe-haven status and help limit further declines.
Furthermore, the rangebound price movement seen over the past week suggests investors should wait for a strong follow-through sell-off before positioning for further depreciation in the XAU/USD pair. Traders are now looking ahead to US macro data for support in the North American session. (alg)
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...