Gold Forecast: Gold futures are inching lower early Tuesday after bumping up against a key technical resistance level for a second straight session. The short-term fundamentals, however, are bullish and are likely to remain that way until investors get some clarity on the timing of its first rate hike.
Gold Price Forecast: Gold futures finished nearly 2% higher last week, boosted by dovish tones from three prominent central banks – the Reserve Bank of Australia (RBA), the U.S. Federal Reserve and the Bank of England (BoE).
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.