Mrsam36

Mrsam36 Updated 

Inflation in the US, as measured by the change in the CPI rose 2.9% on a yearly basis in December from 2.7% in November, the US Bureau of Labor Statistics (BLS) reported, matching expectations. When compared to the previous month, the CPI was up 0.4%, after adding 0.3% in the previous month. The annual core CPI, which excludes volatile food and energy prices, rose...

Mrsam36

For December, the NFP report is expected to show that the US economy created 160,000 new positions, another solid figure. At the same time, the Unemployment Rate is foreseen to remain steady at 4.2%. If that’s the case, financial markets will likely welcome the headlines that would allow the Federal Reserve’s (Fed) recently adopted tighter path when the meet on...

Mrsam36

Tuesday’s US JOLTs Job Openings data indicated a stronger-than-expected labor market after rising to 7.744 million in the reported period. Data surpassed the expected 7.48M increase. The upbeat labor data from the US briefly lifted the US Dollar (USD) across the board, capping the Gold price rebound near $2,655. However, Gold buyers retained control as the...

Mrsam36

However, the downside appears cushioned in Gold price amid sustained bets for a 25 basis points (bps) interest rate cut by the US Federal Reserve (Fed) this month. Markets price in about a 65% chance of a December Fed rate reduction, the CME Group’s FedWatch Tool showed early Monday. Markets also remain wary of the ongoing geopolitical tensions between Russia and...

Mrsam36

Spot Gold remains lifeless below the $2,650 level on a quiet Thursday as investors gear up for an extended weekend. The batch of United States (US) macroeconomic data released on Wednesday anticipated the ongoing quietness, as all American markets are closed amid the Thanksgiving Holiday. On a positive note, the bright metal finds support in mounting expectations...

Mrsam36

Gold price reverts toward the weekly low of $2,605 in Asian trading on Thanksgiving Thursday, snapping a two-day recovery. The US Dollar (USD) and the US Treasury bond yields breathe a sigh of relief, exerting downward pressure on the Gold price amid holiday-thinned trading conditions

Mrsam36

BofA highlights four key policy dimensions of the incoming US administration that could suppress gold demand in the near term by driving higher rates and a stronger USD. However, these bearish factors do not derail BofA's longer-term bullish outlook for gold, with price target of $3,000/oz by end of 2025.

Mrsam36

On the hourly chart of Gold at FXOpen, the price formed a base near the $2,535 zone. The price started a steady increase above the $2,600 and $2,605 resistance levels. There was a decent move above the 50-hour simple moving average and $2,675. The bulls pushed the price above the $2,700 resistance zone. Finally, the bears appeared near $2,720. A high was formed...

Mrsam36 Updated 

he USD rallied hard on Wednesday, tracking the sharp gains in the US bond yields as traders reinforced the Trump trades optimism, digesting hawkish Fed commentary and poor 20-year bond auction results. Most of the Fed officials who spoke on Wednesday sound a bit hawkish, prompting markets scale back their expectations of a 25 basis points (bps) interest rate cut...

Mrsam36 Updated 

Gold’s negative correlation with the USD seems to be in full swing over the past week, as gold’s price practically retreat until Friday, while as the current week started gold’s price seems to have regained its confidence to climb higher. On the flip side USD bulls dominated the greenback’s direction over the past week, while they took a break as the week begun...

Mrsam36 Updated 

However, the resurgence of the geopolitical factor, precisely from the Russia-Ukraine war, seems to be mostly behind the wake-up call in the metal, particularly after Biden’s administration “authorised” Ukraine to use US-made weapons to strike Russian territory. Moving forward, it should be a week dominated by data releases surrounding the real economy worldwide,...

Mrsam36 Updated 

People got bullish on stocks. I get it. There’s a political change coming, and many investors might be excited about that while I don’t think that others would be willing to sell given this sentiment. However, I have to point out that tops are formed when the sentiment is extremely bullish. While this doesn’t have to be the final top for this rally (I admit, I...

Mrsam36

From the long-term Elliott wave perspective, price appears to be correcting the bullish cycle that started in October 2023 when Gold was exchanged for 1810. After completing wave (IV) of the supercycle degree in September 2022, Gold rallied to complete waves I and II of (V) in May 2023 and October 2023 respectively. Thus wave III of (V) started in October 2023 at...

Mrsam36 Updated 

(CPI) rose by 0.2% in October. Over the past year, it increased by 2.6%. On the other hand, the core CPI increased by 0.3% monthly and 3.3% annually. This data strengthened market expectations of the US Federal Reserve's potential third interest rate cut in December. According to CME Group’s FedWatch Tool, the likelihood of a 25-basis-point rate cut at the next...

Mrsam36 Updated 

At the time of writing, however, market participants are battling to establish a trend. The USD retains its strength, but the momentum eased, while US indexes pared the bleeding, with only the Nasdaq Composite trading in the red. The macroeconomic excitement will likely recede as the US other relevant figure to release for the rest of the week

Mrsam36 Updated 

Gold (XAU/USD) came under heavy selling pressure and slumped below $2,700 on Wednesday as US Treasury bond yields rallied on Donald Trump’s victory in the US presidential election. Inflation data from the US and Fedspeak next week could offer fresh insights into whether Gold will be able to shake off the bearish pressured

Mrsam36

Good Day... And a Tom Terrific Tuesday to you! Well, a PT guy came to the house yesterday, sent by my doctors, to get me strong again... I told the PT that my youngest son was a PT, and he about turned around and left, but then I told him that my son hadn't checked with me, so he was more than welcome to begin... I passed all the tests! I even blew the guy away...

Mrsam36

(XAU/USD) is already up half a percent to trade in the $2,730s on Monday during the European session after rising over 1.0% on Friday. The precious metal is gaining on a mixture of increased safe-haven demand due to the intensifying conflict in the Middle East and moves by the People’s Bank of China (PBoC) to further ease credit conditions by cutting interest rates.