Gold price (Yellow Metal) probes a two-day downtrend as it treads water around $1,835 during early Wednesday. In doing so, the bright metal remains inside the one-week-old trading range of around $30.00 as traders await the Federal Open Market Committee’s (FOMC) Monetary Policy Meeting Minutes. It’s worth noting that the geopolitical fears and the US Dollar’s lackluster moves around the multi-day top seem to add filters to the Yellow Metal traders.
Spot Gold
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Gold Price Technical Analysis: Yellow Metal Ready for Target $1827—$1812
Gold Price Technical Analysis: Gold price yielded a daily closing below the critical 50-Daily Moving Average (DMA), now at $1,860.
Gold price (Yellow Metal) failed attempt to rebound from $1,860, Federal Reserve talks
Gold price (Yellow Metal) failed attempt to rebound from $1,860, as market sentiment stays sluggish amid mixed signals from the Federal Reserve and the geopolitical front. Adding confusion to the metal traders’ minds could be the lack of major data/events. Even so, the bullion remains on the bear’s radar as the United States Treasury bond yields remain firmer.
US-China tussles add strength to geopolitical tension and favor Gold sellers
US-China tension is extra burden for Gold (Yellow Metal)— Other than the United States data and monetary policy moves at the European Central Bank (ECB), as well as at the Bank of England (BoE), the latest geopolitical tension surrounding the US and China also exerts downside pressure on the Gold price.
Gold May Halt After Rally, But $1,918 Is Strong Support
Gold price (Yellow Metal) retreats from a nine-month high as bulls await the key US data/events for further directions while aiming for the fresh multi-month peak surrounding the mid-$1,900s.
Spot Gold price Refreshed Nine-Month highs $1,937.43
Spot Gold price is retreating from the highest level seen in nine months at $1,937.43 in the Europen session, as the renewed uptick in the US Treasury bond yields is aiding the recovery in the US Dollar. Meanwhile, the US Dollar also seems to benefit from cautious optimism, amid dovish Federal Reserve expectations, mixed US corporate earnings reports and weak domestic economic data.