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In the early hours of Monday’s Asian trading session, gold prices experienced a modest decline, hovering near their historic peak yet witnessing limited safe-haven demand after an alleged assassination attempt on former U.S. President Donald Trump. The political turbulence in the U.S. bolstered the dollar, as the greenback recouped some of its recent losses on …

Gold Prices Decline as Dollar Strengthens Following Trump Incident Read More »

U.S. labor market exhibiting gradual deceleration U.S. nonfarm payrolls (NFP) report anticipated on Friday Gold could escalate to $2,400 if NFP corroborates economic fissures – analyst On Thursday, gold prices ascended following underwhelming U.S. economic data, which bolstered expectations that the Federal Reserve might reduce interest rates as early as September. Spot gold GOLD increased …

Gold ascends amid tepid data, igniting US rate cut anticipation Read More »

The gold (XAU) market experienced a modest ascent of 0.22% yesterday, maintaining its range within the confines of 2,320–2,340 for the second consecutive day. Implications for Traders The value of gold has exhibited minimal fluctuations in recent days. For XAUUSD to breach the resistance threshold of 2,340, fresh lackluster U.S. data is essential. Such data …

Gold Traders Poised for Incoming U.S. Economic Data Read More »

Gold prices dipped to approximately $2,320 per ounce on Tuesday as market participants eagerly await pivotal economic disclosures this week, which are expected to shed light on the Federal Reserve’s schedule for potential interest rate reductions. Significant attention is directed towards the forthcoming core PCE index figures, the Federal Reserve’s favored gauge of inflation, alongside …

Gold Declines as Market Awaits Crucial U.S. Economic Indicators Read More »

By Brijesh Patel and Ashitha Shivaprasad SINGAPORE (Reuters) – As the preeminent sovereign purchaser of gold, China is projected to rekindle its acquisition spree once prices retract from their May zenith, as the underlying rationale for gold remains robust, industry experts conveyed at a recent symposium. Following an 18-month streak of augmenting its gold reserves, …

China’s Central Bank to Reignite Gold Purchases as Prices Decline, Analysts Forecast Read More »

Immediate Reaction in Gold Valuations The illustrious metal has depreciated by nearly 1% in light of the recent revelation: China’s cessation of gold acquisitions for its reserves, marking the end of an 18-month continuous buying spree. Contextual Overview To provide some perspective, the People’s Bank of China (PBOC) emerged as the foremost net purchaser of …

Gold Experiences Decline Amidst News of China Ceasing Reserves Acquisition After 18-Month Duration Read More »

The price of gold (XAU) experienced a notable decline of 3.33% over the past week. Nonetheless, XAUUSD saw a slight ascent from 2,330 to 2,340 on Friday. Potential Implications for Traders Last week’s precipitous drop in gold prices led to an anticipated upward correction on Friday. Market observers expect gold to test the 2,330 support …

Gold Experiences Modest Rebound After Steep Descent Read More »

Gold relinquished its footing near $2,420 per ounce on Tuesday, descending from recent zeniths, as market participants mulled over the latest discourse from Federal Reserve dignitaries. Despite the moderation in US consumer price inflation observed last week, Fed authorities remain reticent to declare that inflation is steering towards the central bank’s envisaged target, with numerous …

Gold Recedes from Pinnacle Peaks Read More »

Gold prices are stuck in neutral, waiting on a signal from the US economy. Investors are on high alert for today’s jobless claims data and consumer sentiment reading next Friday, hoping for clues about the Federal Reserve’s next move on interest rates. A potential rate cut in September is on the table, but gold bugs …

Gold on Hold: Investors Eye US Data for Rate Cut Clues Read More »