Gold took us out on multiple long positions. Now, we want our pips back. Technically, gold is now in a bearish run and is standing at the support level of the daily and weekly as well. This support is strong and we might see a retracement towards another bearish impulse. The retracement would not convene that the market is off to the races on the bullish side. The structure is lower low and lower high and is highly ancitipating the continuation towards the bearish side breaking the support. We are looking to short the pair at the price of 1954, which is the broken support turn resistance.

We ascertain a bearish breakout sell from the candle. The market started to push down from the resistance. This is another bearish validation on the pair. 

There is no retracement element on this pair as of now.

EMA 50 is bearish and the area we are looking to take a short on our position, we are seeing a EMA 50 confluence forming. which could strengthen our bearish position.

RSI is at 37. It needs to neutralize at the 50 level to align with the technical factors.

What's good, GOLD?

Gold seems bullish now on the daily and weekly. Market broke the previous resistance and is now testing it at the support level, priced at 1951. We will be taking a long position here as gold formed a strong bullish engulfing candle earlier which portrays the bullish sentiment. It is residing at the resistance level priced at 1978, but we anticipate this resistance breaking out for the continuation towards the bullish side. We will take another long position once the market retraces at the support level.

The descending trendline is on the verge of breaking out from the price action. Another lower trendline has already broken the trendline for the breakout buys. It has been validated as well.

The retracement level of 1959 is in confluence with the support level. 

EMA 50 has turned bullish and has the potential to retest the EMA 50. That is the area, where we will have a confluence with all the technical factors.

RSI is at 64. The RSI needs to neutralize at the level of 50. At this level, we will align our support level and then take the bullish position.

Lets go gold!

Gold has been in a bullish trend on weekly and monthly. On the daily, it retraced heavily towards the support level of 1937. Market broke the previous resistance and is now testing it at the support level, priced at 1951. We will be taking a long position here as gold formed a strong bullish engulfing candle earlier which portrays the bullish sentiment. The sentiment is bearish at the moment but we are trying to take the longs on anticipation of a bounce back.

There is no retracement level in this setup.

EMA 50 is bearish right now. We can utilize this EMA 50 as a profit target of our long positions.

RSI is at 61. The RSI needs to neutralize at the level of 50. At this level, we will align our support level and then take the bullish position.

Gold still buys

Gold has been in a bullish trend on weekly and monthly. On the daily, it retraced heavily towards the support level of 1937. Market broke the previous resistance and is now testing it at the support level, priced at 1940. We will be taking a long position here as gold formed a strong bullish engulfing candle earlier which portrays the bullish sentiment. The sentiment is bearish at the moment but we are trying to take the longs on anticipation of a bounce back.

RSI is at 39. It needs to dwell further into the over sold region for the purpose of aligning with the technical factors and then going up.

Still bullish on Gold

RSI is at 36. It needs to dwell further into the over sold region for the purpose of aligning with the technical factors and then going up.

Heavy support at 1937

Gold has been in a bullish trend on weekly and monthly. On the daily, it retraced heavily towards the support level of 1955. Market broke the previous resistance and is now testing it at the support level, priced at 1971. We will be taking a long position here as gold formed a strong bullish engulfing candle earlier which portrays the bullish sentiment.

RSI is at 51. It needs to fall into the neutralized level of 50, where it can align with the technical factors.

Gold buys from 1971

Strong confluence on EURUSD longs

Breakout and retest on the resistance now turn support

Sellers are going to be liquidated

Ripple stacks at 0.5

Bitcoin Sluggish on bullish sentiments above 2000$

Bitcoin to extend its complex correction before bullish run

Took the loss, for another short position

Shorts on GBPJPY after breaking the support

AUDUSD under selling pressure

Ripples previous bearish leg can be the last one for now

Still betting long on Chainlink

Stopped out for no good reason!

NFP day with Dow Jones

GBPJPY topping out?

Copper contrarian buying opportunity?

Silver has provided some serious bearish breakouts on 4H

Descending trendline retest

AUDUSD needs retracement at 0.6515

Breakout buy and retest on EURJPY

No end to the GBPJPY bullish sign

The Double Bottom can trigger a bullish breakout

EURUSD buys from 1.0730

EURUSD buys, but stalled on a monday holiday

EURUSD double bottom

Still looming for EURUSD longs

US Dollar Uptrend Has Started, Is It Time to Short EURUSD?

Stop hunts on RIPPLE

Still bullish on ripple

Stacks on Ripply

Still short on Bitcoin

Shorting ETH at the resistance

Taking a long position even after a loss

Expecting another corrective bearish leg before upside

Inverse head and shoulders formed

Ethereum retest at 1813

Bearish on Bitcoin

Waiting on Chainlink

0.4475 is the buy region for Ripple

Hawkish continuation of trend after a pullback

GBPJPY buys from 171.40

Double top on GBPJPY?

Still hovering GBPJPY

Fall on gold can be considered as last leg of bearish correction

Looking at gold buys from 1940

Gold pounced from support

Major support levels tapping

Textbook breakout and retest on NASDAQ

EURUSD to fall below 4HEMA200

Double bottom on support on EURUSD

EURUSD buys from support

EURUSD has still hidden bearish cards on the line

USDCHF to complete its correction before next fall

AUDUSD flooring at the support level

GBPUSD longs from double bottom

USDCAD seems to be getting ready for bullish run

AUDUSD tapping the support once again

Short Term Buying on AUDUSD

Still believe for Gold to move up

Kiwi struggling for sustenance above the DEMA200

Chainlink at the support level of 6.45

Breakout sells on Dow Jones 30

Daily and weekly resistance on NASDAQ

Gold to complete higher degree correction

AUDUSD breakout buy

Uptrend gold tapping major support

CADJPY looking for a retest of the resistance

Intraday EURUSD setup

Does XRP's Strong Bids at 0.41 Enough to Re-test 0.47?

GBPJPY testing the support

Shorts from retracement level

Longs at 50% retracement

EURUSD has turned favors to bearish trend

GBPJPY wants to fly high

Shorting gold till 1980?

Slipping on GBPJPY?

Trendline speaks of bearish sentiments prevailing on USDCAD

USDCHF to stay bearish until the break of TL above

EURUSD taking advantage of 1.0800 support

GBPJPY can go for a bearish run below the SL

Bitcoin still bearish

Minor resistance shorts on CADJPY

Chainlink buys from 6.32

Bitcoin will be bullish after bearish correction

EURUSD took a bearish turn

EURUSD completing daily cycle bearish correction

EURUSD maintaining steady bullish stance above TL

EURUSD still buys

ETH/USD bearish until touchdown at DEMA200

Bulls on bitcoin have completely dominated

Bearish flag pattern breached on gold

Lets buy ETHEREUM at 61.8%

EURUSD to auction surprising gains depending on fundamentals

It looks like Cables will be extending its corrective tone

Gold was subdued around $1,960 an ounce on Wednesday as investors geared up for the US Federal Reserve’s interest rate decision next week. The Fed is widely expected to pause its tightening cycle at the upcoming meeting in light of softening US economic data,  but markets see a nearly 52% chance of another 25 basis point rate hike in July. Investors also look ahead to US inflation data due for release next week to guide the economic and interest rate outlook. Still, the metal remains down more than 5% from its May peak as major central banks are anticipated to keep interest rates higher for an extended period due to persistent inflationary pressures. Meanwhile, data showed that Chinese exports dropped more than expected in May, reflecting the country’s challenging recovery path as external demand slows.

Gold Subdued as Fed Meeting Looms

Gold prices inched slightly higher above $1,950 an ounce on Monday, following a modest weakening of the US dollar and a minor decline in US Treasury yields, after the ISM Services PMI pointed to sluggish growth in the US services sector during May. However, gold prices remain significantly below the near-record-high of $2,050 reached on May 5th, as traders are anticipating that interest rates will need to remain elevated for an extended period in the US, Europe, and the UK due to persistent inflationary pressures.

Gold Prices Edge Up after ISM Services Data

Gold held below $1,950 an ounce on Monday after losing 1.5% in the previous session, weighed down by a firmer dollar as a strong US payrolls report raised bets the Federal Reserve will keep interest rates higher for longer. The US economy unexpectedly added 339,000 jobs in May, surpassing the forecasts for a 190,000 increase. However, the unemployment rate rose to a seven-month high of 3.7%, higher than the expected 3.5% and wage growth slowed as expected. Markets now see a 25% chance that the Fed would deliver another 25 basis point rate hike this month, with a potential pause in the tightening cycle still the base case. Elsewhere, US President Joe Biden signed the debt ceiling bill into law over the weekend, averting a potentially catastrophic default by the US government.

Gold Remains Under Pressure

Gold is down by 2.43%

Gold prices edged slightly lower to $1970 an ounce on Friday, after the payrolls report showed a surprise strong job growth in the US. Traders now assign a nearly 66% chance the Fed will leave interest rates steady this month, compared to 75% before the release. About 34% of investors now see the Fed raising rates by another 25bps. Meanwhile, the US Senate approved a bipartisan deal that would increase the federal debt ceiling, allaying fears of a historic default in the US. On the week, gold prices are on track to gain nearly 1%, its first weekly advance in four.

Gold Prices Fall after Payrolls Report

Gold rose to around $1,980 an ounce on Friday and was on track to post its first weekly advance in four, as the US Federal Reserve signaled that it could pause its interest rate hikes this month. Fed Governor Philip Jefferson and Philadelphia Fed President Patrick Harker suggested this week the US central bank could skip a rate hike in the next meeting, but qualified that any decision to hold rates steady should not be viewed as the end of the tightening cycle. Mixed US economic data supported such an outlook, while markets look ahead to a key US monthly jobs report for further clues on the economy and monetary policy. Meanwhile, the US Senate has voted to approve a bipartisan deal that would increase the federal debt ceiling, allaying fears of a historic default.

Gold Set for Weekly Advance

Gold steadied above $1,960 an ounce on Thursday, holding its recent advance as traders reassessed the US Federal Reserve’s interest rate outlook. Fed Governor and vice chair nominee Philip Jefferson said on Wednesday that “skipping a rate hike at a coming meeting would allow the Committee to see more data before making decisions about the extent of additional policy firming.” He added that any decision to hold rate steady should not be viewed as the end of the tightening cycle. Markets have now trimmed the chances that the Fed will raise rates by 25 basis points to only 26%, just a day after seeing a 67% chance. Meanwhile, the US House of Representatives passed the bill to raise the debt ceiling with broad bipartisan support, advancing it to the Senate ahead of the June 5 deadline.

Gold at 1977.32USD/t oz.

Gold Steadies as Traders Assess Fed Outlook

Gold steadied around $1,960 an ounce on Wednesday but was still set to end the month lower, weighed down by hawkish US Federal Reserve bets and news that a tentative US debt ceiling deal was reached over the weekend. Strong US economic data bolstered expectations that the Federal Reserve could tighten policy again in June and hold interest rates higher for longer. Markets are now pricing in a higher chance that the Fed will deliver another 25 basis point rate hike in June, a shift from previous expectations for a pause in the tightening cycle. Meanwhile, President Joe Biden and House Speaker Kevin McCarthy reached an agreement in raising the US bt ceiling over the weekend, hurting safe-haven demand for bullion. Elsewhere, weaker-than-expected manufacturing and services activity data in China fueled fears of slowing economic growth in the world’s top gold consumer.

Gold Heads for Monthly Drop

Gold held below $1,950 an ounce on Monday, remaining close to its lowest level in two months, weighed down by hawkish US Federal Reserve bets and news that a tentative US debt ceiling deal was reached over the weekend. President Joe Biden and House Speaker Kevin McCarthy reached an agreement in principle over the weekend to suspend the $31.4 trillion debt limit and expressed confidence that both Democrats and Republicans will support the deal. Meanwhile, stronger-than-expected US economic data bolstered expectations of further interest rate hikes from the Fed. Markets are now pricing in a higher chance that the Fed will deliver another 25 basis point rate hike in June, a shift from previous expectations for a pause in the tightening cycle. Gold is highly sensitive to the rates outlook as higher interest rates raise the opportunity cost of holding non-yielding bullion, denting its appeal.

Gold Hovers Near 2-Month Low

Gold prices gained for the first time in three sessions to $1948 an ounce on Friday, as the dollar softened a bit and traders continue to follow the debt ceiling standoff. However, data released this week for the US including a hotter-than-expected PCE inflation, upward revision to GDP and lower-than-expected initial claims strengthened the case for the Fed to hold interest rates higher for longer, pressuring the bullion down. On the week, the yellow metal is on track to fall 1.5%.

Gold Prices Slightly Up

Gold rose toward $1,950 an ounce on Friday, but was still set to decline for the third consecutive week, weighed down by a rising dollar amid growing expectations that US interest rates could stay elevated for longer than previously anticipated. A series of data this week indicated that the US economy remained resilient even in the face of the Federal Reserve’s aggressive tightening campaign. Several Fed officials also backed the case for further interest rate hikes due to sticky inflation, though some members suggested that decelerating growth could reduce the need for further tightening. Meanwhile, investors patiently waited for updates on the ongoing debt ceiling negotiations in Washington, with a Reuters report saying progress was made on Thursday with stakeholders needing to agree on just $70 billion in spending.

Gold Set for Third Weekly Decline

Gold prices fell below $1950 an ounce on Thursday, hovering at levels not seen in over two months, pressured by a rise in Treasury yields and the US dollar. Traders are closely monitoring the ongoing debt ceiling impasse and the likelihood of prolonged higher interest rates, particularly in the US. The FOMC minutes revealed that some officials saw the need for more rate hikes while others anticipated that a deceleration in growth would eliminate the requirement for further tightening. Meanwhile, GDP growth for the US was revised higher in Q1 and initial claims rose much less than expected. In Europe, both the BoE and the ECB are expected to continue to raise rates further as inflation remains elevated.

Gold Prices Extend the Decline

Gold held its recent decline to below $1,960 an ounce on Thursday, hovering close to its lowest levels in two months, pressured by a rise in Treasury yields and the US dollar. Traders are closely monitoring the ongoing debt ceiling impasse and the likelihood of prolonged higher interest rates, particularly in the US. The FOMC minutes revealed that some officials saw the need for more rate hikes while others anticipated that a deceleration in growth would eliminate the requirement for further tightening. Elsewhere, data showed that UK inflation surpassed expectations in April, fueling fears that additional interest rate hikes may be needed. Also, the European Central Bank is still anticipated to continue raising interest rates throughout the year.

Gold Holds Recent Decline

Gold prices were below $1970 an ounce on Wednesday, close to low levels not seen in two months, and pressured by a rise in Treasury yields and the US dollar. Traders are closely monitoring the ongoing debt ceiling impasse and the likelihood of prolonged higher interest rates, particularly in the US. The FOMC minutes revealed a divergence of opinions among Federal Reserve officials regarding the need of further policy tightening. In the UK, inflation figures surpassed expectations, further fueling speculation of additional interest rate hikes. Also, the European Central Bank is still anticipated to continue raising interest rates throughout the year. In New Zealand however, the Reserve Bank of New Zealand increased the cash rates by the anticipated 25 basis points but indicated that it might conclude its tightening campaign.

Gold Prices Remain Under Pressure

Gold weakened toward $1,960 an ounce on Tuesday, extending losses from the previous session, weighed down by a stronger dollar amid hopes that the US would avert a debt default and hawkish remarks from Federal Reserve officials. President Joe Biden and House Speaker Kevin McCarthy signaled cautious optimism that a deal to raise the debt ceiling would be reached, with Treasury Secretary Janet Yellen reaffirming that the US could be at risk of default by June 1. On the monetary policy front, Fed’s Bullard suggested the possibility of raising rates by another half-point this year, while Fed's Kashkari described the decision to pause or hike rates in June as a close call. Markets have scaled back bets on US interest rate cuts this year, with rates seen holding at around 4.7% by December.

Gold Weakens on Firmer Dollar

Gold fluctuated around $1,975 an ounce on Monday, struggling for direction as traders cautiously awaited updates from the US debt ceiling negotiations, while continuing to assess the outlook for Federal Reserve monetary policy. US President Joe Biden and House Speaker Kevin McCarthy are set to continue discussions on Monday, as Treasury Secretary Janet Yellen has repeatedly warned that the US could default on its debt as early as June 1 if a deal to raise the US debt ceiling is not reached. Meanwhile, Fed Chair Jerome Powell said that inflation was “far above” the central bank’s objective, but added that it may be unnecessary to raise interest rates further due to the stress in the banking sector. Markets are now pricing in an over 85% chance that the Fed would pause its interest rate hikes next month.

Gold Fluctuates in Cautious Trade

Gold held its recent decline to around $1,960 an ounce on Friday and was on track to lose more than 2% this week, as growing optimism over the US debt ceiling negotiations and hawkish signals from the Federal Reserve weighed on the metal. US President Joe Biden and House Speaker Kevin McCarthy indicated confidence that a US default would be averted, with McCarthy suggesting a potential deal to raise the US debt ceiling could come as soon as next week. On the monetary policy front, two US Fed officials said on Thursday that US inflation does not look like it is cooling fast enough to allow the central bank to pause its interest rate hikes. Markets are now pricing in about a 40% chance that the Fed would deliver another 25 basis point rate hike next month. Gold is highly sensitive to the rates outlook as higher interest rates raise the opportunity cost of holding non-yielding bullion, making its less attractive for investors.

Gold Heads for Sharp Weekly Drop

Gold prices fell for a third consecutive day to below $1,990 an ounce on Thursday, approaching levels not seen since late-March, as bets the Fed will pause the current tightening cycle or potentially cut rates this year fell. The claims report reinforced perceptions the labour market remains robust while comments from several Fed officials suggested the anticipated pause in rate hikes in June is uncertain. Meanwhile, optimism surrounding the resolution of the debt ceiling standoff in the US bolstered the dollar and Treasury yields, consequently weighing on the bullion.

Gold Prices Fall for 3rd Session

Gold decreased to a 4-week low of 1970 USD/t.oz

Gold Hits 4-week Low

Gold held below $2,000 an ounce on Wednesday after losing more than 1% in the previous session, weighed down by the dollar’s strength as investors assessed the likely outcome of the US debt ceiling negotiations and the direction of Federal Reserve monetary policy. President Joe Biden and House Speaker Kevin McCarthy edged closer to a deal late on Tuesday but a consensus was not reached. The dollar was also lifted on Tuesday by strong US consumer spending data and hawkish remarks from Fed officials, putting downward pressure on bullion. Chicago Fed President Austan Goolsbee said it was “far too premature to be talking about rate cuts,” while Cleveland Fed President Loretta Mester said rates were not yet at a point where the central bank could hold steady due to stubborn inflation.

Gold Holds Decline on Dollar Strength

Gold prices edged slightly lower to $2,010 an ounce on Tuesday as investors continued to monitor the impasse over the debt ceiling in the US and the monetary policy outlook, particularly from the Federal Reserve. President Biden and congressional leaders are scheduled to resume talks on raising the debt limit today. Furthermore, certain Fed officials have downplayed the likelihood of an interest rate cut this year, which has pushed the dollar slightly higher and exerted pressure on the price of bullion. In the meantime, gold imports from India, the world's second-biggest consumer of the yellow metal, plummeted by 45% year-on-year to a three-month low in April. Spot gold prices came close to reaching record levels at $2,050 on May 4th following indications from the Federal Reserve that a pause in the current tightening cycle is imminent.

Gold Prices Fall Slightly to Below $2010

Gold steadied above $2,010 an ounce on Tuesday, holding gains from the previous session as the risk of a US default and global economic uncertainties spurred some safe-haven demand for the metal. President Joe Biden and congressional leaders are set to resume talks later today after previous meetings yielded little progress toward raising the US debt ceiling. Investors also tracked the latest commentary from US Federal Reserve officials, who largely pushed back on interest rate cuts this year. Markets now look ahead to a slew of US economic data and more central bank commentary on Tuesday to guide the rates outlook. Elsewhere, Turkey’s presidential election is headed for a runoff as neither incumbent President Tayyip Erdogan nor his main challenger, Kemal Kilicdaroglu, secured a majority.

Gold Steadies on Haven Demand

Gold prices rose above $2,010 an ounce on Monday, snapping a three-day decline as global economic uncertainties spurred some safe-haven demand for the metal. Latest data showed that US consumer sentiment declined to a six-month low in May and inflation expectations for the next five years were the highest since 2011. Investors also fretted about ongoing negotiations over the US debt ceiling, with President Joe Biden set to meet with congressional leaders again this week amid efforts to prevent a default. Meanwhile, Federal Reserve Governor Michell Bowman said last week that the US central bank will probably need to raise interest rates further if inflation persists. Elsewhere, investors monitored Turkey’s presidential election which appeared to be headed for a runoff despite incumbent President Tayyip Erdogan’s lead, as well as Thailand’s general elections where the reformist opposition has won the most seats and the largest share of the popular vote.

Gold Edges Higher on Haven Demand

Gold prices fell to below $2,020 per ounce, extending its decline from the near-record-high of $2,050 on May 5th as a firmer US dollar made gold more expensive for foreign purchasers, weighing on buying volumes. Still, a batch of new economic data underscored current trends of lower inflation and a slower labor market in the United States, strengthening expectations that the Federal Reserve will pause its tightening cycle in its next meeting. Producer inflation fell more than expected in April, backing hopes of subdued prices after a cooler-than-forecasted CPI print for the period. At the same time, weekly unemployment claims rose the most since October 2021, suggesting that higher borrowing costs are having a greater impact in the US economy.

Gold Pares Gains

Gold prices steadied above $2,030 an ounce on Thursday, remaining in positive territory so far this week as the latest CPI report showed that headline inflation in the US unexpectedly slowed last month, supporting bets that the Federal Reserve will pause its interest rate hikes in June. The annual inflation rate in the US stood at 4.9% in April, defying expectations for no change and falling below 5% for the first time in two years. Money markets are currently pricing a 95% chance of a pause next month, while 5% expect another quarter-point rate hike. The metals also found support from uncertainties surrounding the US debt ceiling, as President Joe Biden piled pressure on Republican lawmakers on Wednesday to raise the $31.4 trillion debt limit or risk throwing the world’s largest economy into recession.

Gold Firms Up on Soft US Inflation Data

Gold climbed toward $2,050 an ounce on Wednesday, approaching record levels of $2,070 last week, after data showed that US headline consumer prices rose at an annual rate of 4.9% in April, slightly below expectations, while core prices increased by 5.5% as expected. Fed funds futures traders are currently pricing in an 86% likelihood that the Federal Reserve will leave rates unchanged at its June meeting, and 14% odds of an additional 25 basis points hike. Gold is also being supported by economic uncertainties and renewed concerns over the banking sector in the US.

Gold Extends Gains

Gold steadied above $2,020 an ounce on Tuesday, holding its ground as investors braced for key US inflation reports this week that could influence the Federal Reserve’s next interest rate decision. US consumer inflation data will be released on Wednesday while producer inflation data will be released on Thursday. Last week, the metal reached near-record highs on dovish hints from the Fed, as well as heightened economic uncertainties and renewed concerns over the banking sector in the US. However, gold prices pulled back as US recession fears eased, with analysts suggesting that recent economic concerns were overstated. Elsewhere, the Bank of England is expected to tighten policy further next week as the UK continues to grapple with elevated inflationary levels.

Gold Steadies Ahead of US Inflation Data

Gold prices rose above $2,020 an ounce on Monday, recouping some losses from the previous session amid a general greenback weakness, while investors continued to assess the economic and monetary policy outlook. Last week, the metal reached near record-highs as the US Federal Reserve delivered a widely expected 25 basis point rate hike but hinted at a possible end to its aggressive tightening cycle. However, gold prices tumbled nearly 2% on Friday as data showed that the US economy unexpectedly added 253K jobs in April, exceeding forecasts of 180K and tempering fears of a looming recession in the country. Investors now look ahead to US consumer inflation data on Wednesday for more clues on the likely direction of US monetary policy.

Gold Edges Higher on Dollar Weakness

Gold prices fell almost 2% to below $2015 an ounce on Friday, after a stronger-than-expected nonfarm payrolls report for the US offered investors some relief over a potential recession. However, the bullion reached a record high level of $2072 an ounce this week as central banks around the world, and especially the Fed, are expected to halt rate hikes soon. At the same time, concerns over the health of the banking sector and the US debt ceiling weighed on investors' risk appetite.

Gold Falls Almost 2% from Record Levels

Gold is down by 2%

Gold rose to a record high of $2,070 before paring gains back to the $2,050 mark on Thursday, the highest in 14 months, amid renewed turmoil in the US financial sector and dovish bets for the Federal Reserve. Shares from regional US lenders tanked after a handful of banks stated they are in talks with investors and partners, deepening concerns of instability in the industry and triggering a fresh flight to safety. Repeated threats to the stability of US banks hoarded bets that the Federal Reserve will not be able to maintain borrowing costs at an elevated level for long, pressuring the dollar and reducing the opportunity cost of holding non-interest-bearing assets such as bullion. This week, the central bank raised its funds rate by 25bps and omitted plans to tighten policy further, ramping up expectations that the central bank has completed its 500bps tightening cycle.

Gold Approaches Record-High

Gold held around $2,040 an ounce on Thursday, hovering near its highest levels on record as the US Federal Reserve delivered a widely expected 25 basis point rate hike but removed language from its policy statement that it “anticipates” further rate increases would be needed. However, Fed Chair Jerome Powell said that the committee’s current inflation outlook does not support the case for rate cuts. The metal was also boosted by increased safe-haven demand amid rising risks of a global recession and fears of a wider contagion in the US regional banking space. Investors now look ahead to a key US monthly jobs report on Friday to guide the monetary policy outlook. Elsewhere, the European Central Bank is expected to tighten policy further as well on Thursday. Gold reached as high as $2,072 an ounce in early Asian trade before giving back most of the gains.

Gold Hovers Near Record High on Fed Pause Bets

Gold is up by 2.01%

Gold prices extended their rally and traded above $2,020 per ounce on Wednesday, approaching the 13-month high of $2,040 touched on April 13th, after the Federal Reserve delivered a 25bps rate hike, as expected, and omitted previous language that signaled further tightening. The wording solidified market bets that the central bank has concluded its 500bps tightening cycle at the 5.25% mark, lower than previous signals from FOMC members as turmoil in the financial sector and evidence of a softer job market pared the Fed’s aggressiveness. Gold prices were also supported by a flight to safety after JPMorgan’s acquisition of the First Republic Bank raised concerns of more instability for regional lenders. Elsewhere, the European Central Bank is expected to tighten policy further this week as well, while the Reserve Bank of Australia unexpectedly raised its cash rate on Tuesday.

Gold Rises Above $2,020 Following Fed

Gold prices held around $2,015 an ounce on Wednesday after jumping nearly 2% in the previous session, as growing recession fears and persistent concerns over the banking sector in the US weighed on the dollar, while lifting other safe-haven assets. Meanwhile, investors remain cautious ahead of the US Federal Reserve’s policy decision, where it is expected to deliver another 25 basis point rate hike. Data from the JOLTS showed that job openings in the US fell to a near two-year low during March, adding to recent evidence that higher borrowing costs have softened the labor market. Investors also fretted about the collapse of First Republic Bank and its subsequent takeover by JPMorgan, the second-largest bank failure in US history. Elsewhere, the European Central Bank is expected to tighten policy further this week as well, while the Reserve Bank of Australia unexpectedly raised its cash rate on Tuesday.

Gold Holds Advance on Haven Demand

Gold prices erased early losses and jumped above $2,015 per tonne, approaching the 13-month high of $2,040 touched on April 13th as evidence of a slower job market and concerns over small-cap US banks triggered a fresh flight to safety ahead of tomorrow’s FOMC decision. Data from the JOLTS showed that job openings in the US fell to a near two-year low during March, adding to recent evidence that higher borrowing costs loosen the labor market. At the same time, a fresh sell-off in shares of US regional banks renewed concerns over instability in the US financial system, supporting demand for precious metals. While markets continue to expect a 25bps interest rate hike by the Federal Reserve tomorrow, bets on the number of rate cuts that the Fed will deliver by the end of the year have increased.

Gold Rises Above $2,010

Gold prices edged below $1,990 an ounce on Monday, coming under pressure ahead of the Federal Reserve’s policy meeting this week. The Fed is widely expected to deliver another 25 basis point rate hike on Wednesday amid strong US economic data and persistent inflationary pressures. Other major central banks including the European Central Bank and Reserve Bank of Australia will also decide on monetary policy this week. Meanwhile, gold prices advanced for the second straight month in April amid growing speculations that the US central bank could soon end its aggressive tightening cycle. Recession fears and renewed concerns about the banking sector in the US also drove haven demand for the metal. Gold is highly sensitive to the rates outlook as higher interest rates raise the opportunity cost of holding non-yielding bullion and vice versa.

Gold Slips Ahead of Fed Meeting

Gold steadied near $1,990 an ounce on Friday and was on track to book a second straight monthly gain, as heightened global economic uncertainties and a weaker dollar lifted demand for the safe-haven asset. Data on Thursday showed that the US economy grew less than expected in the first quarter as business investment growth slowed down, inventories declined and rising interest rates continued to hurt the housing market. Speculations that the US Federal Reserve could soon end its aggressive tightening rate-hike cycle also supported bullion prices. Still, major central banks are expected to tighten policy further, with the Federal Reserve and European Central Bank set to raise interest rates again in May. Gold is highly sensitive to the rates outlook as higher interest rates raise the opportunity cost of holding non-yielding bullion and vice versa.

Gold Set For Second Monthly Gain

Gold prices pared gains and fell toward the $1,870 mark on Thursday, the lowest in over three weeks, amid a rebound in risk sentiment and expectations of tighter monetary policy from the Fed. A round of economic data showed PCE price indices accelerated above market expectations while unemployment claims unexpectedly fell, spurring bets that the Federal Reserve will commit to hawkish signals from FOMC members. The data pressured precious metals despite the slower-than-expected GDP growth of 1.1% for the first quarter, driving money markets to price fewer rate cuts by the Federal Reserve this year. Tighter monetary policy from the central bank raises the opportunity cost of holding non-interest-bearing assets, pressuring bullion prices. In the meantime, banking shares bounced back from recent lows as investors reassessed the risks that regional lenders pose to the US economy, limiting demand for safe-haven assets.

Gold Prices Fall to 3-Week Low

Gold rose toward $2,000 an ounce on Thursday, erasing losses from the previous session amid a pullback in the dollar, as recession fears and renewed concerns about the banking sector in the US drove investors into the safe-haven asset. Data on Wednesday showed new orders for key US-manufactured capital goods fell more than expected in March, adding to signs that the world's largest economy could fall into recession later this year. Bloomberg also reported that First Republic Bank is considering divesting as much as $100 billion of assets as part of a rescue plan, stoking fresh concerns about a wider impact from the banking crisis. Still, the Federal Reserve is widely expected to deliver another 25 basis point interest rate hike in May as signs of persistent inflation suggest the tightening cycle is not over. Investors now look ahead to first-quarter GDP, weekly jobless claims and pending home sales data for more clues into the state of the US economy.

Gold Climbs on Softer Dollar

Gold traded near $2,000 an ounce on Wednesday, holding its recent advance as renewed concerns about the financial sector and global economic uncertainties lifted demand for the safe-haven asset. First Republic shares sank 49.4% on Tuesday after the US-based regional bank revealed that deposits shrank by 41% to $104.5 billion last quarter, reigniting concerns about a wider impact from the banking crisis. Concerns that the US Treasury Department could hit its debt limits in the coming months also prompted investors to avoid certain Treasury bills and pour into other assets. Elsewhere, latest data showed that US consumer confidence tumbled to a nine-month low in April, adding to a batch of weak data suggesting the economy could be headed for a recession this year. Investors now await more US data this week for more clues about the state of the economy, including the core PCE index and GDP figures.

Gold Firms Up on Safe-Haven Bets

Gold prices edged up to $1,991 an ounce on Tuesday after being steady the day before, as the US dollar softened further ahead of a slew of US economic data this week, including consumer sentiment, core PCE index, and Q1 GDP figures. The Fed is still expected to hike rates by another 25 basis points when it meets next week, but Fed Fund futures prices show that markets are pricing in an over 60% chance for a mid-year pause in rate hikes. A Bloomberg survey pointed to growing expectations that the Fed will cut interest rates later this year, especially if economic conditions worsen. Meantime, Dallas Fed's ’ report showed Monday that factory activity in Texas shrank further in April, falling the most in nine months, highlighting the economic toll of the Fed's tightening path.  Elsewhere, rising concerns that US Treasury Department could hit its debt limits in the coming months are leading investors to steer clear of certain Treasury bills and pour into other assets.

Gold Inches Higher

Gold prices were little changed on Monday, hovering around $1,980 an ounce, as market participants prepare for the releases of US Q1 GDP reading and consumer confidence data for April later this week. On Friday, gold tumbled around 1%, falling from a 13-month high of $2,040 hit on April 13th, as the dollar index rose toward 102 following surveys that showed US and eurozone business activity gained momentum in April, while several Fed officials supported the need for further policy tightening to bring inflation down. Also, some ECB policymakers called for more rate hikes in upcoming meetings to tame the record-breaking core inflation.

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