Gold Price Analysis: Gold futures are edging higher early today, mirroring the price action in U.S. Treasury yields and the U.S. Dollar. Nonetheless, the market is still hovering just above a seven-week low that was struck the previous session as Treasury yields jumped on growing expectations of an earlier-than-anticipated interest rate hike by the U.S. Federal Reserve.
Gold Price Forecast: Rising U.S. Treasury yields are driving gold futures lower on Tuesday with the market testing its lowest level since August 11. Sellers took out last week’s low at $1737.50 earlier in the session, signaling a continuation of the current weakness that began at $1836.90 on September 3.
Gold Price Forecast: Gold futures put in a mixed performance before closing slightly higher for the week. The price action was driven by a choppy trade in the U.S. Dollar, but gains were likely limited by a rise in U.S. Treasury yields.
Gold Price Analysis: Gold futures are trading nearly flat early today, mirroring the price action in the U.S. Dollar against a basket of major currencies. The low volume and volatility indicates a few of the major players are sitting on the sidelines ahead of key decisions by the U.S. Federal Reserve and China’s Evergrande.
Oil Price Forecast: U.S. West Texas Intermediate and international-benchmark brent crude oil futures are trading higher today as energy companies continue to struggle with output halted after Hurricane Ida made landfall about two weeks ago.
Gold Price Forecast: On Friday gold futures as investors continued to wait for clarity over the U.S. Federal Reserve’s tapering timeline. Although most major investors are likely keeping their power dry ahead of the Fed’s September 21-22 policy meeting, we do know from the recent price action that they are aware of the importance of a pair of 50% levels at $1795.00 and $1800.00.
Gold Price Analysis: Gold futures plunged yesterday as sellers came in strong following the long U.S. holiday weekend. Friday’s feeble attempt at an upside breakout failed because of low pre-holiday volume. Meanwhile, weak buyers who bought Friday’s U.S. jobs report headline were forced to liquidate their positions.
Gold Price Analysis: Gold futures closed higher on Friday, surging more than 1% to its highest level since July 29, as slower-than-expected U.S. jobs growth in August drove the U.S. Dollar lower, casting doubts on the Federal Reserve’s tapering timeline.
Gold Price Futures Analysis: Gold futures finished slightly lower on Wednesday but remained in a tight trading range on relatively low volume, suggesting investor indecision and impending volatility. Traders essentially shrugged off mixed U.S. economic data while focusing on the direction of U.S. Treasury yields and the U.S. Dollar.
Gold Price Analysis: December Comex gold futures are trading higher on Monday after reversing earlier intraday weakness. The market is being supported by a weaker U.S. Dollar. However, gains are being capped by rising U.S. Treasury yields and increasing demand for higher-risk assets.