All eyes in the gold market are firmly fixed on the critical $2,318 support level for XAU/USD as traders eagerly await key US economic indicators for fresh trading direction. Wednesday’s focus centers on mid-tier US Durable Goods data, although the main event of the week remains the release of the advance first-quarter US Gross Domestic Product […]

The outlook for gold prices suggests a possible rebound in the near term, following a recent correction spurred by easing concerns of a broader conflict in the Middle East and a tech-driven rally on Wall Street. Overnight, risk sentiment flowed into Asia, exerting downward pressure on gold prices. However, investor sentiment appears cautious as attention turns

Following a tumultuous period dominated by Middle East tensions, market attention has pivoted towards deciphering economic data for insights into central bank policy trajectories. Traders found solace in the absence of further escalation from Iran following Israel’s retaliatory actions, prompting a softening in demand for safe-haven assets. This marks a departure from last week’s volatility, which

Oil and gold prices experience sharp gains amidst escalating geopolitical tensions triggered by Israel’s strikes on targets in western Iran in response to recent attacks. Of particular concern is Isfahan, a city housing military bases, facilities, and crucially, nuclear sites including the main technology center, although Iran assures the safety of its nuclear facilities. Brent crude

Gold prices embark on another attempt to breach the $2,400 mark as geopolitical tensions loom large. Despite hawkish undertones from the Federal Reserve, the US dollar retraces alongside Treasury yields, fostering a resurgence in risk appetite. Market sentiment prompts profit-taking on long US dollar positions, prompted by the rally spurred by Fed Chair Jerome Powell’s hawkish remarks earlier

The dollar maintains its upward trajectory amid expectations of prolonged higher US interest rates, fueled by hawkish remarks from Fed Chair Jerome Powell. Powell’s indication that policymakers will exercise patience in slashing rates, given persistent high inflation readings, has reinforced market sentiment for a delayed easing cycle. Today’s release of the Beige Book, along with insights

The latest US jobs report underscores the continued resilience of the American economy despite facing elevated interest rates, prompting investors to turn their focus to the upcoming US Consumer Price Index (CPI) release this week. The CPI data will serve as a crucial gauge to determine whether the recent uptick in inflation is a sustained trend or

Israeli Prime Minister Benjamin Netanyahu reaffirmed his country’s commitment to confront Iran and its allies during a security cabinet meeting, asserting that Israel would retaliate against any threats. Meanwhile, President Joe Biden conveyed to Netanyahu during a call that US support for Israel’s actions would hinge on efforts to minimize harm to civilians. The remarks from Netanyahu

Federal Reserve Chair Jerome Powell reiterated the central bank’s intention to potentially lower interest rates this year, maintaining a cautious stance while assessing economic conditions. Powell emphasized that recent inflation figures had not significantly altered the overall economic landscape, providing a boost to risk assets. This affirmation suggests that concerns in markets about the economy’s strength potentially

Monday’s trading activity in the futures market suggests a potential shift towards a more hawkish sentiment regarding US interest rates. However, it’s important to note that expectations could evolve significantly as more data becomes available. The Institute for Supply Management’s manufacturing gauge climbed to 50.3 last month, indicating a halt to 16 consecutive months of contraction, albeit