Gold Price Forecast: XAU/USD fluctuates around $1840 on high US bond yields, risk-off mood Gold XAUUSD Metals
US business activity in February improved
US equities opened in the red as sentiment remains sour. S&P Global revealed that the US economy in February posted a recovery in business activity, with all the indices above estimates. However, as measured by the S&P Global Manufacturing PMI, manufacturing activity remained at 47.8 in the contractionary territory.
“Despite headwinds from higher interest rates and the cost of living squeeze, the business mood has brightened amid signs that inflation has peaked and recession risks have faded,” said Chris Williamson, a chief business economist at S&P Global Market Intelligence. He added that supply constraints had alleviated delivery times., a gauge of the buck’s value vs.
Geopolitical-wise, the US Secretary of State Anthony Blinken warned China not to provide further lethal military help to Russia in its invasion of Ukraine, adding that “serious consequences” would happen if it did so. In the meantime, US President Joe Biden visited Ukraine’s President Zelenskyy in Kyev, showing US support after Blinken’s comments.
Therefore, the XAU/USD first support would be the 100-day Exponential Moving Average at $1820.45, followed the last week’s low of $1818.97. A breach of the latter will expose the $1800 mark.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Gold Price Forecast: XAU/USD rebound needs validation from Federal Reserve Minutes, United States dataGold price (XAU/USD) stays defensive around $1,842, after bouncing off multi-day-old horizontal support the previous day. In doing so, the yellow meta
Lire la suite »
Gold Price Forecast: XAU/USD skids below $1,840 as geopolitical tensions dampen market moodGold price (XAU/USD) has slipped to near $1,837.90 after delivering a downside break of the consolidation formed in a narrow range of around $1,844.00
Lire la suite »
Gold Price Forecast: XAU/USD licks its wounds near $1,840 within falling wedge amid sluggish marketsGold price (XAU/USD) grinds higher around intraday top, reversing the early-day losses, as the US Dollar bulls take a breather amid the US holiday on
Lire la suite »
Gold Price Forecast: XAU/USD recovers further from YTD low, upside potential seems limitedGold price edges higher on the first day of a new week and looks to build on Friday's bounce from the $1,819-$1,818 area, or the YTD low. The XAU/USD
Lire la suite »
Gold Price Forecast: XAU/USD rises toward $1840s despite renewed Fed hawkish comments, US inflation dataGold price advances after hitting a six-week low at around $1819 and aims toward the 50-day Exponential Moving Average (EMA), above its opening price
Lire la suite »
Gold Price Forecast: XAU/USD approaches $1850 as investors digest a rebound in US Inflation projectionsGold price (XAU/USD) has displayed a back-and-forth action in a narrow range above $1,840.00 on Monday’s session. The precious metal is expected to hi
Lire la suite »