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Gold price remains depressed below multi-month top, attention shifts to FOMC meeting

Gold price (XAU/USD) trades with a negative bias for the second successive day on Tuesday and remains below the $2,000 psychological mark heading into the European session. Expectations that the Federal Reserve (Fed) will stick to its hawkish stance to bring inflation back to its 2% target remain supportive of elevated US Treasury bond yields. This, […]

Gold price remains supported by Middle East tensions, awaits US PCE data before the next leg up

Gold price (XAU/USD) attracts some buying for the third day in a row on Friday and remains supported by a steady demand for safe-haven assets due to the ongoing conflict in the Middle East, as well as a lack of price movement in the US Dollar (USD). The precious metal maintains its bid tone through the first […]

Silver Price Analysis: XAG/USD flat-lines below $23.00, remains confined in a multi-day-old range

Silver (XAG/USD) struggles to capitalize on its modest intraday uptick and attracts some intraday sellers in the vicinity of the $23.00 mark on Friday. The white metal currently trades around the $22.80 region, nearly unchanged for the day, and remains confined in a multi-day-old range through the first half of the European session. From a technical […]

Gold price extends its steady ascent back closer to multi-month top, looks to US GDP

Gold price (XAU/USD) gains some positive traction for the second successive day on Thursday and continues scaling higher through the first half of the European session. The safe-haven precious metal has now moved back closer to its highest level since May 16 touched last Friday and remains well supported by the risk of a potential […]

Silver Price Analysis: XAG/USD recovers further from one-week low, retakes $23.00 mark

Silver (XAG/USD) builds on the previous day’s bounce from the vicinity of mid-$22.00s, or over a one-week low and scales higher through the early part of the European session on Thursday. The white metal, for now, seems to have snapped a three-day losing streak and currently trades around the $23.00 round figure, up nearly 1% for […]

Gold Futures: A sustained drop appears unlikely

CME Group’s flash data for gold futures markets noted traders reduced their open interest positions by around 5.2K contracts at the beginning of the week, reversing the previous daily build. Volume followed suit and shrank by nearly 150K contracts. Gold faces decent support around $1900 Monday’s downtick in gold prices was on the back of shrinking open […]

Gold Futures: Downside could be losing momentum

Open interest in gold futures markets dropped by around 1.4K contracts after two consecutive daily builds on Tuesday, according to preliminary readings from CME Group. Volume, instead, remained erratic and increased by around 12.3K contracts following the previous daily drop. Gold faces a tough support around $1800 Gold prices remained in free fall on Tuesday amidst […]

Gold price faces pressure as US Dollar strengthens due to multiple tailwinds

Gold price (XAU/USD) continues its decline, pressured by multiple headwinds. Federal Reserve (Fed) policymakers support one more interest rate increase in the remainder of 2023 as a resilient United States economy could slow down the progress against inflation. Apart from that, a strong improvement in the US Manufacturing PMI despite higher interest rates has strengthened the economic outlook. […]

Gold price bounces off multi-month low on weaker risk tone, not out of the woods yet

Gold price (XAU/USD) attracts some haven flow on Thursday and for now, seems to have snapped a three-day losing streak to a six-and-half-month low, around the $1,873-1,872 zone touched the previous day. Furthermore, a modest downtick in the US Treasury bond yields holds back the US Dollar (USD) bulls from placing fresh bets and turns […]

Gold Futures: A sustained drop appears not favoured

CME Group’s flash data for gold futures markets noted traders reduced their open interest positions for the second session in a row on Tuesday, this time by around 2.5K contracts. Volume followed suit and shrank for the third consecutive day, this time by nearly 6K contracts. Gold faces the next hurdle at $1945 Tuesday’s daily […]