Gold price continued to push lower in the second half of the day on Monday and broke below $1,775. Following the upbeat ISM Services PMI report from the US, the benchmark 10-year US Treasury bond yield is up more than 2%, forcing yellow metal to stay under bearish pressure.
Spot Gold
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Gold Weekly Data Update [HINDI] – Gold Silver Reports
Gold Weekly Data Update: सोने की कीमत व्यापक रूप से अमेरिकी डॉलर की कमजोरी से लाभान्वित हुई और 1,800 डॉलर से ऊपर बंद होने में विफल रहने के बावजूद इस सप्ताह लगभग 2% की बढ़त हासिल की। यूएस से उच्च प्रभाव वाले डेटा रिलीज़ की अनुपस्थिति में, निवेशक चीन से कोरोनावायरस से संबंधित सुर्खियों पर कड़ी नज़र रखेंगे और नए दिशात्मक सुरागों के लिए सोने (Gold) के तकनीकी विकास का आकलन करेंगे।
Gold price needs a weekly close above 200-Daily Moving Average to unleash further upside
Gold price is reversing from a fresh four-month high above $1,800, as bulls take a breather before the United States Nonfarm Payrolls (NFP)-led massive volatility storm. The US Dollar has paused its downward trajectory amid a minor uptick in the US Treasury bond yields and a cautious market mood.
Gold Price to Trend Lower into 1st Quarter 2023
Gold price Forecast: “Fed Chair Powell signaled the Federal Reserve will slow the pace of interest-rate increases next month, but this does not mean rates will not go past 5%. However, market pricing of the terminal rate is now just under 5%.”
Federal Reserve Chairman Jerome Powell drowned US Dollar, Jumped Gold Price
Gold Price Forecast: On Wednesday, Fed Chair Jerome Powell marked his first public appearance after November’s Federal Open Market Committee (FOMC) meeting while speaking at the Brookings Institute on the economic outlook, inflation and employment.
Red Alert: Thanksgiving Day in United States may Test Gold bulls
Red Alert: Be it the market’s cautious optimism due to the expectations of softer interest rates or the downbeat statistics from the United States, not to forget the below-mentioned technical details, the Gold price has more positives to cheer about.
Fed Rate Hikes Hang over Gold – Neal Bhai Reports
“The recent Gold price rally was triggered by softer-than-expected US inflation for October. However, we believe the market reaction to the latest inflation print was exaggerated as inflation remains near 7.7%, which is well above the central bank’s target of 2%. Further, the month-on-month increase was still 0.4% for both September and October.”