Gold price trades back-and-forth
Gold price (XAU/USD) struggles to extend its recovery as investors remain anxious ahead of US inflation data for October, which will be published at 13:30 GMT. The precious metal consolidates with investors expected to wait until after the release before building fresh positions, as the inflation data will provide them with greater clarity about the […]
Gold price trades back and forth as investors await US official Employment data
Gold price (XAU/USD) delivers V-shape recovery despite the United States Nonfarm Payrolls (NFP) report for September has reported that the number of job-seekers hired were significantly higher than expectations. Fresh payrolls were 336K while investors forecasted that US employers added 170K employees and 187K jobs were created in August. Weak Employment numbers from Automatic Data […]
Gold price eyes a recovery after a long sell-off
Gold price (XAU/USD) finds buying interest on downbeat United States labor market data. The US Automatic Data Processing (ADP) has reported a sharp decline in the hiring of private payrolls for September. US employers picked 89k fresh talent from the market against expectations of 153k and August’s reading of 177k. This indicates a soft labor […]
Gold price refreshes six-month low to 1,833.00
Gold price (XAU/USD) continues its losing spell despite the fact that Friday’s soft core Personal Consumption Expenditures (PCE) inflation vanishes odds of a hawkish interest rate decision from the Federal Reserve (Fed) in the November monetary policy meeting. The precious metal struggles for a firm footing as Treasury yields continue their bullish run as the […]
Gold price (XAU/USD) has been dumped heavily by market participants
Gold price (XAU/USD) has been dumped heavily by market participants as Federal Reserve (Fed) policymakers reiterate their hawkish stance on the interest rate outlook. The precious metal continues its three-day losing spell as bets for unchanged interest rates fade amid a resilient US economy. The US Dollar attracts significant bids as strong consumer spending and […]
Gold price runs north swiftly
Gold price (XAU/USD) attempts to come out of the woods as investors digest the fact that the Federal Reserve (Fed) will raise interest rates by 25 basis points (bps) to the 5.25%5-5.50% range. The precious metal picks strength as market participants hope July’s rate hike will be the last one this year, prompting the Fed to pause the rate-hiking spell for a longer period. Easing fears of a global recession, the United States upbeat Consumer Confidence, and expectations of the Fed announcing an interest rate peak have built pressure on the US Dollar Index (DXY). The index retreats as investors are anticipating that Fed Chair Jerome Powell won’t be much formidable about sticky inflation. After the Fed’s policy decision on Wednesday, US GDP numbers for the second quarter are in the pipeline on Thursday, keeping investors on edge.
