TVS-Trader

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Fundamental Analysis Gold prices attracted some buyers on Thursday and now appear to have snapped a six-day losing streak to a near three-week low around the $2,605-2,604 region tested the previous day. However, the rally lacked bullish conviction and is likely to run out of steam amid growing bets that the Federal Reserve (Fed) will cut its benchmark interest...

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Fundamental Analysis Gold rose to a fresh record high of $2,670 an ounce on Wednesday after a surprise drop in U.S. consumer confidence data on Tuesday raised expectations of more aggressive policy easing and deeper interest rate cuts from the Federal Reserve. Lower interest rates are good for gold because they reduce the opportunity cost of holding...

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Fundamental Analysis Gold prices fell after hitting a fresh all-time high around the $2,640 region on Tuesday and slid to the lower end of its daily range heading into the European session. Rising US Treasury yields helped revive demand for the US Dollar (USD), prompting some profit-taking around the commodity amid a mildly overbought condition on the daily...

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Fundamental Analysis Gold prices regained positive momentum after yesterday’s pullback from an all-time high and continued their steady intraday gains heading into Thursday’s European session. The US dollar (USD) saw an intraday reversal from a one-week high and now appears to have stalled its recovery from its lowest since July 2023 hit the previous day. This,...

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Fundamental Analysis The steady rise continued throughout the early part of the European session and took the commodity to a fresh weekly high, with buyers now looking to build on the upside momentum beyond the $2,525-2,526 supply zone. The US Dollar (USD) is struggling to capitalize on the gains recorded over the past three days and withdrawn from the monthly top...

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☘️Fundamental Analysis Gold prices witnessed an intraday reversal from an all-time high and fell below the psychological $2,500 level after the release of key US monthly employment data on Friday. The mixed US employment report reduced the chances of the Federal Reserve (Fed) cutting interest rates by 50 basis points, which prompted some cover in the US dollar...

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Fundamental Analysis Gold prices attracted some buyers for the third straight day on Friday and traded near weekly highs heading into the European session. However, the gains lacked bullish sentiment as investors opted to wait for the release of the key US Non-Farm Payrolls (NFP) report before placing any fresh bets. Meanwhile, rising bets for more rate cuts by...

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Fundamental Analysis Gold prices edged up in Asian trade on Thursday. A US jobs report showed on Wednesday that employment fell to a three-and-a-half-year low in July, raising expectations that the Federal Reserve will cut interest rates further in September, which in turn acted as a boost for the non-yielding yellow metal. Moreover, concerns about the health of...

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Fundamental Analysis Upbeat US growth reports and initial jobless claims have pushed back expectations of a deeper Federal Reserve rate cut in September, weighing on non-yielding gold. However, escalating geopolitical tensions in the Middle East and the war between Russia and Ukraine could boost safe-haven demand, benefiting the yellow metal. Investors will be...

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Gold structure in the Asian session on August 29. After bouncing from the support zone of 2495 as analyzed yesterday. Gold was strongly pushed back above yesterday's resistance zone of 2511. The 2511 zone unexpectedly became an important support zone of today's session and then the resistance level of 2518 became a trading price range for gold in the Asian session...

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☘️Fundamental Analysis Gold prices lost steam amid a modest recovery in the US dollar (USD) on Wednesday. However, escalating geopolitical tensions in the Middle East could help limit losses. In addition, US Federal Reserve (Fed) Chairman Jerome Powell's speech at the Jackson Hole symposium last week, signaling that it was "time" to start cutting interest rates,...

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Fundamental Analysis The US economic data was stronger than expected and the market is anticipating that these data could affect the extent of the Federal Reserve's interest rate cut. The US dollar and US bond yields rose, making it difficult for gold prices to rise. The latest data released by the US showed that the core consumer price index (CPI) in July, which...