Gold Price (XAU/USD) rises to the highest levels in two weeks, up for the fifth consecutive day, as bulls cheer receding fears of higher rates ahead o
The recent downbeat Purchasing Managers Index data for August from the developed economies, including the US, restored the market’s previous concerns about the central bank policy pivot and weighed on the Greenback, which in turn fuelled the Gold Price.
However, a slew of US data remains to be published and can test the XAU/USD bulls. Above all, Fed Chairman Jerome Powell’s defense of the hawkish monetary policy will be crucial to watch for clear directions as the latest US data suggest the nearness to the end of the rate hike cycle, which if confirmed could weigh on the US Dollar and favor the Gold buyers.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Gold Price Forecast: XAU/USD year-end forecast slightly cut to $1,950XAU/USD is down over 7% since its 2023 peak in May. Economists at UBS analyze Gold’s portfolio role as the backdrop shifts. Short-term headwinds unlik
Leer más »
Gold Price Forecast: XAU/USD rebound to lose momentum below $1,920Gold Price (XAU/USD) portrays bearish consolidation at the lowest level in five months while defending the week-start rebound amid mixed sentiment. US
Leer más »
Gold Price Forecast: XAU/USD rebound appears frail below $1,910, PMI in focusGold Price (XAU/USD) portrays an upward grind around the $1,900 threshold, approaching the $1,910 resistance confluence, as market players brace for m
Leer más »
Gold Price Forecast: XAU/USD treads water around $1,900 despite firmer US DollarGold price marginally extends its gains and successfully continues the winning streak for the third day. XAU/USD hovers around $1,900 per troy ounce d
Leer más »
Gold Price Forecast: XAU/USD stands firmer above $1,900 mark on softer US DollarGold price attracts some dip-buying on Wednesday and stalls the overnight modest pullback from the $1,904-$1,905 region, or a multi-day peak. The XAU/
Leer más »
Gold Price Forecast: XAU/USD grinds higher past $1,895 support as PMI data loomsGold Price (XAU/USD) stays on the front foot for the fourth consecutive day despite lacking upside momentum ahead of the top-tier statistics. That sai
Leer más »