Tag: gold

GBP/USD Surges on Strong Inflation, Solidifying Expectations of June Rate Hike

The UK Consumer Price Index (CPI) remains steady at 8.7% YoY in May, while core inflation unexpectedly rises to 7.1% from 6.8%, indicating that inflationary pressures have not yet peaked. The surge is attributed to factors such as used car prices, recreation, and airline tickets, suggesting that inflation extends beyond food and fuel. This data […]

Gold Price (XAU/USD) Slips Below $1,960 as US Dollar Gains Strength

During the Asian session, the price of gold (XAU/USD) faced downward pressure and fell below the $1,960.00 level. This decline was driven by the US Dollar Index (DXY), which is aiming to reach a 10-week high of 104.00. The strength of the USD Index is primarily due to ongoing uncertainty surrounding US debt-ceiling negotiations between […]

Gold Price Forecast: XAU/USD Faces Active Trading Day with US Focus

Gold price outlook is influenced by US retail sales, Fed communications, and updates on the US debt ceiling. Implied Fed funds futures indicate a leaning towards a dovish stance. The technical analysis by DailyFX.com reflects the uncertainty in the overall macro environment. XAU/USD Fundamental Backdrop Gold prices have remained rangebound as the market awaits the […]

Gold Uptrend Hinges on Breaking Through Key Resistance Levels

For four of the past five days, gold has been testing the support of its short-term uptrend line, but each time it has been rejected to the upside around the line, according to a forecast by Bruce Powers on FXempire.com. Over the past five trading days, there has been a series of higher daily lows, […]