Gold prices have oscillated around the sticky $1850 region due to the absence of a fresh directional catalyst. Bulls remain empowered by the great “reflation trade” and surging coronavirus cases, while bears continue to draw strength from a stabilising dollar.
gold forex
Gold Trades with Modest Losses Around $1850 Region
Gold traded with a mild negative bias through the early European session and was last seen hovering near daily lows, around the $1850 region.
Gold Prices falls over 1%, pinched by firm dollar but on course for weekly gain
Spot gold prices fell 1% to $1,851.50 per ounce by 10:10 a.m. EST (1510 GMT), retreating from a two-week high hit on Thursday. The metal was up 1.4% so far this week.
Gold Edged up, Bullion Has Been Pressured lately By Stronger Dollar
Gold edged up, recovering from an almost seven-week low, amid caution in markets as investors assessed the outlook for the dollar and the timeline for a U.S. stimulus package.
Gold Spot Below $1852, Door Open $1780 — $1740 – Neal Bhai Reports
Gold Spot Below $1852, Door Open $1780 — $1740. Gold and silver prices suffered steep losses on Friday, tracking a sharp decline in global rates. On MCX, February gold futures slumped 4% or ₹2050 to ₹48,818 per 10 gram while silver futures tanked ₹6,100 or 8.8% to ₹63,850 per kg. In global markets spot gold dropped nearly 4% to $1,833.83 per ounce as a jump in US Treasury yields hammered bullion’s safe-haven appeal.
Broad Risk-on Sentiment Weighed on the US Dollar, Buying Precious Metal Prices
Precious Metal Prices : Gold prices rallied as much as 1% on Monday after President Trump signed a $2.3 trillion bill that contains $900 billion in pandemic relief aid and $1.4 trillion in government spending to fund federal agencies.
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Gold Price Forecast 2021 : Gold 1Q Outlook Bullish Headed, Target $1965
What started with a bang is now ending with a whimper. After a meteoric rise in gold prices through the first three quarters of 2020 (gaining +24.3% from January 1 through September 30), gold prices cooled off in 4Q’20, having lost around -1% at the time this forecast was written in December 2020.