Gold prices fell on Thursday as investors preferred the dollar as a haven amid downbeat US economic data. Even though gold is considered a hedge against inflation and uncertainty, high-interest rates diminish the appeal of the non-yielding asset. Last week, there was a notable spike in the number of unemployed Americans filing new claims for Read More…
Technical analysis MACD: The MACD is in the red on the daily chart showing some divergence. The buying pressure is weakening and is being translated for us easily in the MACD histogram. Price: The Euro has begun to for a rolling over pattern as it struggles to break above 1.106. We can see from the chart that Read More…
On Thursday, gold continued its remarkable surge, supported by predictions for a pause in US rate hikes as US banking fears intensified a flight to the safe-haven metal. Wall Street dropped due to PacWest’s decision to look into strategic options. The news increased worries about the health of local banks and countered the optimism about Read More…
Technical recap Gold has been in an uptrend for 2023 and is up nearly 30% since the November 2022 low. There is something that has put some fear into bulls for the time being, though, and it is a big inverted hammer on the daily chart. Inverted hammer This particular candlestick is extra powerful because Read More…
On Thursday, gold reversed course and fell as the dollar rose. Poor US economic data did not alter expectations of another interest rate hike. This is because inflation remained high. Data showed that the US gross domestic product expanded slightly slower than expected in the most recent quarter. The US government released a preliminary estimate Read More…
Recap The last time we looked at Gold, we saw the price approaching all-time highs. The market is still hovering around the same level as from the time that article was posted back on April 11th. From here, we can look at what we see could be the best path forward regarding the price action in GC. Read More…
