A variety of divergent influences is affecting the gold price, which fluctuates within a range. USD bullishness caps the upside, but hawkish Fed predictions drove up US bond rates and in turn supporting the prices. Ahead of the crucial FOMC meeting tomorrow, geopolitical concerns provide some backing to the gold.
Gold consolidates between $2150 and $2200
It appears that gold is moving in anticipation of the possibility of lower rates at some point. While the Federal Reserve is concerned about rising inflation, the most recent economic data is not having a significant effect on forecasts for interest rates.
Gold price continues to consolidate at a record high
The Federal Reserve may postpone interest rate cuts, according to speculation fuelled by a strong US inflation report, which maintains the returns on US Treasury bonds high.
Gold price retraces after US Inflation data
Gold price sees profit-booking and retracement after the release of Inflation figures which came in lower than expected, up at 3.2% YoY against the expectation of 3.1%.
Gold takes a breath after a record rally towards $2200
Gold price meets some supply, snapping a nine-day winning streak and reaching a record high. The drop could be linked to profit-taking ahead of the key US CPI report. Bets on a June Fed rate drop will keep USD bulls on the defensive and should provide support.
Parabolic rally in Gold continues
The gold price was trading close to all-time highs at $2160, driven by expectations that the Fed will lower interest rates in June. According to the CME Fedwatch tool, traders.
Another new record high for Gold
Fund buying, speculation of a US Federal Reserve pivot, and geopolitical and financial risks have led to a rise in gold prices, surpassing the previous record high of $2150.
Gold skyrockets to record high
As prospects of forthcoming Fed policy easing grow, gold prices set a new high by trading above $2140 (~Rs. 65000). Following PMI and Factory Orders data highlighting an economic slowdown in the services sector, there is growing speculation that the US Federal Reserve could begin to rate cuts early.
Gold trades at all-time high price domestically
Gold prices have advanced nearly $70 in the last two trading days, breaking the range of $2000 to $2060, it traded in Jan and Feb. This week we are seeing follow-through buying and investors jumping in gold market with FOMO fear. Due to Rupee depreciation, gold prices have touched record high prices in India.
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Precious metals recover after inline PCE data
Gold rose to a one-month high yesterday as the dollar fell after PCE inflation data met expectations, with traders looking for fresh comments from Federal Reserve officials on interest rate cuts.
Precious metals stay firm, fluctuating in the same range
Gold and Silver prices are still firm and fluctuating in the same range as Federal Reserve Governor Michelle Bowman stated that she is not in a hurry to decrease interest rates, citing inflation risks that might block progress or reignite price pressures.
Precious metals struggle to find new direction
Precious metals dealers are waiting for the next fundamental event to drive trading movement. That could come with some US PCE inflation statistics released later this week.