Spot Gold Price Forecast: The short-term technicalΒ outlookΒ for Gold price remains more or less the same, with any recovery attempts likely to be short-lived as long as the 14-day Relative Strength Index (RSI) stays bearish.
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Gold Investors Await Fed’s Response and US Inflation Report
Spot Gold Forecast For Today: Stock markets in the US will remain open on Veterans Day on Monday but bond markets will be closed, limiting the market volatility at the beginning of next week.
Gold prices hit one-month low amid strong US dollar; check latest prices in your city
Gold prices fell for the third day in a row, declining by βΉ1,470 per 10 grams in early trade on Wednesday, November 13, due to a stronger US dollar in global markets. The American currency traded near three-month high levels ahead of the key inflation data which could give cues about possible rate cuts by the US Federal Reserve.
As Expected, Spot Gold Fell from $2640 to $2590
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What Should Be Your Near-Term Strategy For The Gold?
With US election uncertainties behind us and the Fed cutting rates as anticipated, gold prices are experiencing profit-taking amid a lack of new catalysts.
Silver Price Forecast: Silver falls as dollar strengthens
Silver Price Forecast: Silver (XAG/USD) declined from a two-day high of $32.00 and fell below the 50-day simple moving average (SMA) to $31.37 late in the North American session.
Trump’s policies are likely to increase inflation risks
βFrom last week’s record high, Gold (XAU/USD) had thus fallen by around $140. Selling pressure was caused by a significantly stronger US dollar and a sharp rise in US bond yields. In previous weeks, neither of these factors had been a hindrance for Gold. However, the extent of the USD appreciation and the rise in yields were apparently too strong this time to be ignored by Gold.β