XAU USD Overview

Fluctuations in gold have all but disappeared, with the precious metal marking time at $1,784/oz on Monday. A sideways trend has formed in the range of $1,769-1,794 over the past week and a half. For the time being, there are no signs of a possible breakout. Last Friday, gold prices rose slightly de...

Bitcoin slipped 5.80% to $47,545 on Thursday, December 9. Buyers surrendered all gains seen in the rally from $47,100 to $51,936. The news flow exerted a negative impact on risk-sensitive assets. The DXY index advanced, while gold, oil, major currencies, US stock indices and cryptocurrencies trended...

Gold prices have been trending higher on Wednesday, trading at $1,791/oz. Gains in the previous session were due to profit-taking by some investors. Meanwhile, UST yields are on the rise, pulling the USD up with it, but so far gold has managed to maintain stability without giving in to pressure. Int...

The BTCUSD pair rose 2.12% to $50,441 on Monday, December 6. The gains were 20% of the recent low at $42k. Price action slid 27% on December 3 and 4, and a retracement to $57,600 is equal to 37% upside. Cryptocurrency market cap rebounded by $457 bln to $2.34 trln. On Monday, buying interest in cryp...

Gold is attempting to rally after a protracted downturn. The precious metal is currently trading at $1,787.60 and could hover in the range of $1,760-1,790 for some time. The next target for gold is $1,800, then $1,808. The price of gold went up after Moderna’s CEO said the company would not likely b...

Bitcoin advanced 3.19% to $58,960 on Thursday, November 25. Yesterday was a holiday in the US (Thanksgiving Day). Major currencies, alongside cryptocurrencies, corrected upward against the dollar. By the close, the BTCUSDT pair rose to $59,390. Asian trading today kicked off with a decline in the BT...

The EURUSD pair closed slightly higher on Thursday, November 25, up by 0.09% to 1.1209. Buyers jumped in around 1.1185 and pushed the price up to 1.1229. Market participants reacted sluggishly to the release of the latest ECB minutes. Price action rebounded to 1.1205 by the close on the back of holi...

Bitcoin declined 4.05% on Monday, November 22. During the North American session, price action rose to $59,444, from which it slipped to $55,610 (-$3,834). Prices initially gained on news that US President Joe Biden nominated the current Fed chair Jerome Powell for a second term. The second candidat...

Silver prices have been in decline for the fifth consecutive trading session. By the time of writing, the precious metal was trading at $23.78/oz on Tuesday and could drop to $23.54/oz. The main reason for negativity in the precious metals market is the reappointment of Fed Chair Jerome Powell for a...

Key factors currently driving the FX market: - RBA has no plans to raise rates. - The virtual summit between US and Chinese leaders showed positive outcome. - President Biden signed into law a $1 trln infrastructure bill. - FOMC member James Bullard said that the Fed should “tack in a more hawkish d...

Gold prices are going up despite the strong dollar. By the time of writing, the precious metal was trading at $1,875 and is clearly heading for $1,885, from which the road to $1,900 will be open. Right now, there is only way for gold to move, and that’s up, since the prospects of rising US inflation...

Over the past week, Bitcoin rose 3.55% to $65,519 against the dollar. On Sunday, price action jumped 1.77% to $65,519. The weekly low stood at $62,278. Over the past four days, the BTCUSD pair has been trading within a range of $3,600. The new week started out with gains amid heightened risk appetit...

Recently, gold prices have been impacted by two key interrelated, albeit contrasting factors. The first is US inflation, which recently reached 6.2%, a 30-year high. Gold is a traditional hedge against inflation, and it is this factor that has been pushing up prices since the beginning of the month....

Bitcoin fell 3.08% to $64,882 on Wednesday, November 10. The daily price oscillation reached $6,177, or 8.95% of the top. This is how much the price dropped after reaching the new high of $69,000. Now everything is in order after the recent events that unfolded on the cryptocurrency market. Market v...

The EURUSD pair slid 0.99% to 1.1478 on Wednesday, November 10. Price action collapsed during the North American session after the October CPI reading acceleration came in stronger than expected. In October, headline inflation shot up to 6.2% – a record high since November 1990. Compared to Septembe...

Gold prices continue to trend higher on Monday, while UST yields are in decline. Meanwhile, the dollar exchange rate is quite stable, as investors in recent weeks have learned to focus on one thing. By the time of writing, the price stood at $1,818, with the first target of the rally at $1,825, and ...

Throughout October, gold traded within an ascending channel, up from $1.721.6 to $1.813.8/oz. Last Friday, on the last trading day of October, gold breached this channel to the downside, breaking the medium-term upward trend. The technical picture shows that the most likely outcome in the short term...

Key issues currently driving the FX market: - US new homes sales surged 4% - US consumer confidence unexpectedly rose in October - The S&P 500 hit an all-time high of 4,598.53 - The 10-year UST yield fell to 1.61% - Gold slid $25 to $1,782/oz - Chinese authorities told the head of China Evergran...

Key factors currently driving the FX market: — Germany’s IFO indices fell short of expectations and previous prints. — Gold price rebounded from $1,792 to $1,810. — UST10Y yield fell to 1.627%. — Cos said that supply network bottlenecks and higher commodity prices are negatively impacting the pace o...

Bitcoin fell by 0.71% to $60,852 against the dollar on Sunday, October 24, and by 1.10% over the past week. The weekly candle range was 11.18%. Sellers pushed the price action down to $60,852 at the end of the week. Bitcoin saw sharp selling on November 21 and 22. Both cases coincided with a dollar ...

Gold gained on the back of risk appetite, a weaker dollar and lower US yields. Profit-taking set in after Powell’s speech. Powell reaffirmed the Fed’s intention to taper asset purchases, pushing gold lower. Markit Services and Composite PMIs exceeded expectations in October. The US manufacturing PMI...

Key headlines driving EURUSD: — USD moves lower across the board. — Greenback shrugs off rising UST yields. — US10Y yield climbs to 1.67%. — Euro trades higher against US currency, but lower against sterling. — Jens Weidmann, ECB Governing Council member/Bundesbank President is to step down at ye...

Key issues currently driving the EURUSD pair: - AUDUSD retraced to a two-month high. The easing of coronavirus restrictions and higher commodity prices have supported demand for the Australian dollar. - The treasury curve steepened between US3Y and US10Y yields, meaning that the market is optimistic...

The EURUSD pair rose 0.03%, to 1.1597 on Thursday, October 14. Price action rallied to 1.1624 at the outset of the European session, amid a recoil in the 10-year UST yield and US dollar weakness across the board. Gold flirted with $1,800 for the first time since mid-September. The euro saw its posit...

BTC advanced 2.45% to $57,367 on Wednesday, October 13. Yesterday’s session turned out to be quite interesting. During the first half of the day, price action dropped 4.3% to $54,167, in the absence of negative drivers. Further losses came on the back of technical factors. But then, during the North...

The EURUSD pair rose 0.54% to 1.1593 on Wednesday, October 13. The euro began to strengthen during the Asian trading session. Upside was stoked by news stateside that the House passed a bill to temporarily the debt limit by $480 bln. Volatility spiked after US inflation data came out. EURUSD surged ...

Bitcoin rose 13.40% to $54,659 against the dollar by the end of the week. Over the weekend, price action climbed 1.4%. On Sunday, buyers made two unsuccessful attempts to gain a foothold above $56k. As a result, the leading cryptocurrency price fell back to $54,333. The active phase of the BTCUSDT r...

Gold prices have been consolidating in a broad range of $1,745-$1,771/oz. There is no compelling reason for a breakout thus far, but what lies ahead? On the one hand, the dollar stands tall and proud, drawing support from a rally in UST yields. The market expects the Fed to start reducing asset buyb...

Bitcoin has done well over the second half of the week. The dollar reverted to a downward correction, whereas gold rose $40 to $1,764. The BTCUSD pair surged 17% from a low of $40,753 to $47,786, including the gains seen in today's trading session. The BTCUSD pair picked up momentum after breaking o...

The outlook for gold during the last week of September looks neutral. On the one hand, global capital markets have no need for safe haven assets as investors are buying into the overall rally. On the other hand, the dollar looks strong ahead of Fed tapering. Strategically, this implies robust suppor...