With Russia opening a new front against Ukraine, failed ceasefires, market expectations for a Fed rate cut this year, and buying from central banks, gold has continued its strong performance in May, with the latest rally undergoing a correction.
Read More
Gold bounced back from the support level of 2330 after last week's correction due to persisting geopolitical risks, awaited inflation data, and central banks' gold purchases.
Read More
After facing profit-taking on Friday following its rally last week, gold's trend remains alive due to potential interest rate cuts and ongoing geopolitical risks.
Read More
The recent economic indicators from the US signal a slowdown, ongoing ceasefire talks in Gaza without a resolution, central banks' gold purchases, and tensions in Ukraine have pushed gold to break above the 2330 resistance level.
Read More
Fed statements and upcoming data releases for clues about the Fed's roadmap are expected while the current market sentiment leans towards a rate cut in September.
Read More
Despite the dollar index gaining strength due to more hawkish remarks from Fed members, gold has remained resilient.
Read More
Gold, after completing its rally, has been observed to undergo a correction movement within a channel, with buying occurring at the lower band of this channel since yesterday.
Read More
With geopolitical tensions and other macroeconomic factors at play, the yellow metal, currently correcting from its 20% rally, seems to be consolidating near the lower boundary of a descending channel.
Read More
With news flow from the US and reduced geopolitical risks, gold continues its downward channel movement on intraday timeframes, albeit with a low slope.
Read MoreLOADING...