$XAU Articles

Gold price, which jumped above $2000 an ounce a few months ago and rallied almost 22% in 2020, is now out of demand as investors moved their focus towards risker assets, including stock markets. The price of gold fell close to 6% so far this year with expectations for more drop in the days ahead.

Gold has been tumbling since the beginning of 2021. Weaker Greenback led to a slightly higher price of gold. Geopolitical events might cause volatility in the movement of the yellow metal’s price.

The gold price has been under pressure as the race between the Democratic challenger and Republican leader Donald Trump tighten after Trump has taken a lead in the majority of swing states.

US dollar continues to trade below 93 levels despite the massive stock price selloff on concerns stemming from record growth in daily virus infections. US and European stock markets lodged the largest daily decline in the past few months on Monday and extended that downtrend in Tuesday trading.

US dollar continues to trade around the 93.40 level against the basket of six major currencies amid the uncertainty regarding the stimulus package and concerns over the second coronavirus wave. The USD index has been trading in a tight range of 92.90 to 93.60 levels over the past few days.

Gold (XAU/USD) has been compressing into a wedge directly above the previous all time high, which was broken after 9 years in August 2020. The APEX of the wedge is fast approaching as traders and investors patiently await for the continuation break out on gold. Wedge patterns are generally a…

Previously, durable goods rose 7.3 % in June MoM, following a downwards 15.1% in May, beating the market forecasts at 7%. Mostly noticeably, orders for non-defence capital goods excluding aircraft's, rose 3.3% , following +1.6% in May.

Gold has slipped to session lows, slipping from $1995 to  $1960 quickly, meanwhile the dollar index rose from a low of around 92.25 to 92.60. This comes as market participants await key FOMC minutes this evening.

Both Gold and Silver rose sharply overnight, with gold up 0.80% as we head into the London open, on track to posting its best month in 8 and half years.

With the European liquidity/solvency crisis in full swing and major disappointment from the markets on the Fed’s announcement, it looks increasingly likely that the USD will continue to catch a bid.