|Day's Range||1,330.799 - 1,334.2|
|52 Week Range||1,330.799438 - 1,334.199707|
Investing.com – Gold prices remained flat despite the dollar and bond yields coming under pressure as traders remained cautious on outlook for the yellow metal amid expectation the Fed will raise rates next month.
Based on the current price action, the direction of the gold market the rest of the session is likely to be determined by trader reaction to the intermediate Fib level at $1330.20.
Investing.com - Gold prices remained at one-and-a-half week lows on Thursday, as the release of upbeat U.S. jobless claims data was expected to add further strength to the dollar after the minutes of the Federal Reserve's latest policy minutes pointed to the need for further interest rate hikes.
Investing.com - Gold prices fell to one-and-a-half week lows on Thursday, after the minutes of the Federal Reserve's latest policy minutes pointed to the need for further interest rate hikes, sending the U.S. dollar higher.
The daily chart suggests that momentum is building to the downside with the February 8 bottom at $1309.00 a reasonable target.
The U.S Dollar grew stronger in forex as the Federal Reserve’s Meeting Minutes publication was digested by investors late on Wednesday.
Investing.com - Gold prices were trading lower on Thursday, weighed down from fresh gains in the dollar as it traded near a one-week high against a basket of major currencies.
Gold prices moved lower but bounced at session lows as weaker than expected housing data was offset by hawkish fed minutes. The yellow metal bounced at trend line support near 1,321, and could test target resistance near the 10-day moving average at 1,335. Momentum has turned negative as the MACD (moving average convergence divergence) index recently generated a crossover sell signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line). The median sales price fell to $240,500 from $246,500, but the price is up 5.8% year over year.
Gold markets went back and forth during the trading session on Wednesday, bouncing around the $1325 level. By settling on essentially not moving, the market looks like we are trying to build up a bit of confidence, something that might have been shattered over the last 3 sessions.
Investing.com – Gold prices remained steady after the dollar eased from highs as traders awaited the release of the Federal Reserve’s January meeting minutes for clues on future monetary policy action.
Based on the current price at $1331.40 (1800 GMT) and the earlier price action, the direction of the gold market the rest of the session is likely to be determined by trader reaction to $1330.20.
Investing.com - Gold prices remained under pressure on Wednesday, hovering at one-week lows as the U.S. dollar continued to be supported ahead of the minutes of the Federal Reserve's latest policy meeting, due to be released later in the day.
Investing.com – U.S. Futures pointed to a lower opening bell on Wednesday, as traders wait for the Federal Reserve meeting minutes and potential signs of increased interest rates.The S&P 500 futures fell over four points or 0.18% to 2,709.25 as of 6:40 AM ET (11:40 GMT) while Dow futures decreased 56 points or 0.22% to 24,892.0. Meanwhile tech heavy Nasdaq 100 futures was down over three and a half points or 0.06% to 6,786.75.The Federal Reserve is expected to release the minutes of its most recent policy meeting at 2:00 PM ET (19:00 GMT). ...
The Dollar extended gains against a basket of major currencies on Tuesday ahead of today’s highly anticipated FOMC meeting minutes release. This latest rebound from three-year lows suggests that investors are inclined to overlook concerns around the U.S budget deficit — for the moment, at least.
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Investing.com - Gold prices fell to one-week lows on Wednesday, as strength in the U.S. dollar continued to weigh, although caution ahead of the minutes of the Federal Reserve's latest meeting and uncertainty surrounding a big U.S. debt auction this week was expected to limit the greenback's gains.
It is an important day of reports for global investors as the U.K presents its Inflation Report Hearings and the U.S issues the Fed’s FOMC Meeting Minutes publication.
For this, we will analyze the situation on Gold, EURUSD, and USDJPY. If it was all about Gold, the time to end the correction would be right now. XAUUSD is creating a hammer candlestick on the up trendline and the horizontal support on the 1324 USD/oz.
Forex may remain consolidated as investors anticipate the publication of the U.S Federal Reserve’s Meeting Minutes report later.
The Fed minutes, due to be released at 1900 GMT, are likely to exert the most influence on gold prices today. The minutes could have more impact than usual if they provide any insight on inflation and interest rates.
A stronger U.S. Dollar tends to be bearish for dollar-denominated commodities like copper because it often reduces foreign demand.