Gold Price Forecast: XAU/USD bulls move in, but have a mountain to climb By ross_burland Gold Commodities DollarIndex Ukraine
Bulls need to break above $1,960 and the bears below $1,915 with firm daily closes above or below respectively.At $1,934.15, the gold price,, is bid in Asia, moving in towards the New York session highs just a few dollars away at $1,937.
The 2 year-10 year spread widened also due to the Fed's plans to reduce its balance sheet. The yield on 10-year Treasury notes was higher by 3.8 basis points to 2.647% while the 2-year note yield was losing 4.5 basis points at 2.457%, leaving the 2-10 spread at 18.72 basis points by the close of play on Wall Street.
''Strong physical demand is also likely both directly and indirectly associated with the war and its inflationary impact. And, while central bank flows have been muted of late, confiscation risks may drive official purchases higher.''
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD to remain above $1,900 this year – ANZXAU/USD is trading in a relatively tight range near $1,920. In the view of strategists at ANZ Bank, the impact of a stronger dollar is set to be muted
Read more »
Gold Price Forecast: XAU/USD remains poised to test the 50-DMA at $1,903Gold price is looking to extend the previous sell-off on Wednesday. As FXStreet’s Dhwani Mehta notes, $1,903 appears at risk for XAU/USD. Fed minutes
Read more »
Gold Price Forecast: XAU/USD Sustained by Real Yields and Safe-Haven DemandA robust labor market and solid growth data gives a string foundation for the Fed to be aggressive in its fight with inflationary pressures. Get your market update from WVenketas here:
Read more »
Gold Price Forecast: XAU/USD, nothing new here, but a breakout is nighThe gold price is stuck in familiar ranges, bouncing around between a daily resistance and support channel. However, like a coil, the build-up of ener
Read more »
Gold Price Forecast: XAUUSD challenging the upper end of its rangeXAUUSD Current Price: $1,935.16 Central banks’ hawkishness and the Eastern European crisis undermine the market’s mood. Stocks turned red, with Wall
Read more »
Gold Price Forecast: Prices Probe Support as FOMC Minutes, China CPI NearGold looks stagnant after a surging US Dollar dragged prices lower. The upcoming FOMC Minutes and Chinese CPI data may spur some movement in the yellow metal as inflation expectations ease. Get your market update from FxWestwater here:
Read more »