A stronger dollar and rising bond yields caused gold prices to drop over 1% to a two-week low. Spot gold declined by 1.4% to $1,943.89 per ounce, while US gold futures fell 1.36% to $1,943.40 per ounce. The US dollar gained ground on Thursday, driven by news of stronger-than-expected economic growth in the country, despite Read More…
Intorduction Gold has been an exciting asset to watch in 2023 as there have been periods where it has followed the Dollar, which it generally should diverge from. The yellow metal was up 30% at a stage from its lows made in November of last year to the recent highs made in April, but there Read More…
On Thursday, gold prices retreated from a two-month high due to a rise in the dollar and bond yields. However, the decline was limited as hopes persisted for a potential pause in US Federal Reserve rate hikes after the July meeting. According to David Meger, director of metals trading at High Ridge Futures, the rebound Read More…
Gold prices neared one-month highs on Thursday as the US dollar and Treasury yields declined. The declines reflected expectations that the US Federal Reserve would soon conclude its rate-hike cycle. The dollar index reached its lowest point in over a year, making gold more affordable for international buyers. Additionally, US Treasury yields fell, reducing the Read More…
Weekly Chart The weekly chart shows a series of bullish candlestick formations. Long wicks to the downside show that there is a high demand for gold even when the sellers try to push the price down heavily. We can take note of this as a bullish signal. There has also been a slight decrease in Read More…
Gold prices declined after a stronger-than-anticipated US private payrolls report, reaching a nearly one-week low on Thursday. The employment report boosted expectations for additional interest rate hikes by the Federal Reserve, resulting in higher Treasury yields. Despite concerns of a recession due to rising interest rates, the June data revealed a greater-than-expected increase in US Read More…
