Gold Price Forecast: Firmer DXY directs XAU/USD bears towards $1,730 – by anilpanchal7 Gold XAUUSD Fed Recession Commodities
Recession fears, hawkish Fedspeak underpin US dollar strength amid sluggish session. takes offers to renew monthly low near $1,750 during early Friday morning in Europe. In doing so, the bullion prices register the five-day downtrend as the US dollar bulls cheer recession woes, as well as firmer US data and hopes of the Fed’s aggression vis-à-vis rate hikes.
Recently, Bloomberg came out with the news that Chinese President Xi Jinping and Russian President Vladimir Putin plan to attend a Group of 20 Summit to be held in Bali later this year, Indonesian President Joko Widodo said in an interview. The news also mentioned that it was the first time the leader of the world’s fourth-most populous nation confirmed both of them were planning to show up at the November summit.
Amid these plays, Wall Street closed mixed and exert down pressure on the S&P 500 Futures, down 0.17% intraday at the latest. Further, the US 10-year Treasury yields reverse the previous day’s retreat from the monthly high to 2.891% by the press time.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD reverses Fed Minutes inspired gains, $1,735 in focusGold price (XAU/USD) remains on the back foot around a two-week low, taking rounds to $,1761 at the start of Thursday’s Asian session. The precious me
Read more »
Gold Price Outlook: Gold Slumps to Key SupportA modest pullback in gold having stalled at 1800, while a pick up in USD demand also weighs on the precious metal. Get your market update from JMcQueenFX here:
Read more »
Gold Price Short-term Technical Outlook: Gold Rally Rejected at ResistanceGold prices plunged more than 2% since the start of the week with XAU/USD reversing off yearly downtrend resistance. The pullback is approaching the August range lows and we’re on breakout watch for guidance into the close of the month.
Read more »
Gold Price Forecast: XAU/USD drops to 1-1/2 week low, below $1,770 ahead of FOMC minutesGold Price Forecast: XAU/USD drops to 1-1/2 week low, below $1,770 ahead of FOMC minutes – by hareshmenghani Gold Commodities Fed Bonds Recession
Read more »
U.S. Treasury eyes Brazil drug gang ties to illegal Amazon gold minesThe U.S. government is concerned about links between Brazil's largest drug gang and illegal gold mining in the Amazon rainforest, a U.S. Treasury official said on Wednesday following meetings with Brazilian law enforcement and civil society. Brian Nelson, under secretary for terrorism and financial intelligence, said he had learned alarming information about ties between the First Capital Command (PCC), a major global cocaine trafficker, and wildcat gold miners ravaging the Amazon.
Read more »