Gold prices fell on Tuesday after the US inflation report renewed inflation worries and dimmed Fed rate-cut expectations. The Consumer Price Index report revealed a higher-than-expected figure for the annual rate, raising concerns that the Fed might decide to delay rate cuts further. Core US inflation (Source: Bureau of Labor Statistics) Notably, US headline inflation Read More…
Gold has always held a special allure, and in the financial markets, it is no different. Currently, Gold Futures are exhibiting strength, as indicated by the recent push towards and beyond the $2,089 level as it broke above all-time highs. On the weekly chart, the precious metal has overcome significant resistance, marked by the ‘Previous Read More…
Gold prices soared to record highs on Tuesday due to increasing rate-cut expectations. Additionally, the yellow metal got support from a weaker dollar, ongoing geopolitical tensions, and demand from central bank purchases. US services growth (Source: Institute for Supply Management) Rate cut expectations rose on Tuesday after data from the US revealed a decline in Read More…
Weekly Key Levels to Watch on the Weekly: Daily Chart Observations: Key Levels to Watch on the Daily: Potential Trades: Given the current price action and the significance of the ATH level, we must be prepared for volatility and swift price movements. Traders should watch for a confirmed breakout or rejection at the ATH to Read More…
When Egyptian trader Mahmoud Elbakry was looking to take his futures trading career to the next level, he knew he needed the right partner. After failed attempts with 4 other prop firms, he finally found the perfect fit with OneUp Trader. Within just 15 trading days, Mahmoud successfully passed his OneUp Trader evaluation and secured Read More…
Gold prices increased slightly on Tuesday as the dollar weakened, making gold more attractive to foreign buyers. At the same time, investors were awaiting more inflation data from the US and speeches from Fed policymakers. These will give guidance on the outlook for rate cuts in the US. The dollar weakened after poor data from Read More…
