Spot Gold advances on Wednesday, changing hands at around $2,173.00 a troy ounce.
XAU/USD Current price: $2,173.59 Investors dismissed US CPI figures before the Federal Reserve’s announcement next week. Easing demand for safety pushes Treasury yields higher in the day. XAU/USD resumed its advance after correcting extreme overbought conditions. XAU/USD trimmed half of Tuesday’s losses, as demand for the US Dollar remained subdued while Treasury yields steadily grind higher.
However, no specific date was announced, and the meeting summary showed policymakers would remain data-dependent amid high levels of uncertainty. Meanwhile, US Treasury yields advance in a better mood, which limits demand for safe-haven bonds. Wall Street trades mixed after flirting with record highs in the previous session, with the Nasdaq Composite being the worst performer, down roughly. 0.60%. At the time of writing, the 10-year note offers 4.19%, up 3 basis points on the day.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: Confluence Resistance Stifles Bulls, Focus Shifts to US PCEThis article evaluates the short-term outlook for gold prices, examining various scenarios that may unfold later in the week following the release of U.S. core PCE data.
Read more »
Gold Price Forecast: Bullish Breakout Continuation Hinges on US Jobs DataGold surges past crucial resistance levels, hitting its highest mark since December of the previous year. The sustainability of this week's bullish breakout, however, depends on the upcoming U.S. jobs report.
Read more »
Gold Price Forecast: US Jobs Data to Energize Rally or Squash It, Possible ScenariosThis article examines gold’s outlook, exploring possible scenarios that could develop in the near term once Friday's U.S. employment data is released.
Read more »
Gold Price Forecast: XAU/USD risks a correction, with eyes on US Nonfarm Payrolls dataGold price is on a steady corrective decline from an all-time high of $2,165 set on Thursday, as the US Dollar licks and Treasury bond yields lick their wounds heading into the critical US Nonfarm Payrolls (NFP) data release later on Friday.
Read more »
Gold Price Forecast: XAU/USD patiently waiting before challenging $2,200Gold price holds near record highs on Monday, with XAU/USD changing hands at around $2,184 a troy ounce.
Read more »
Gold Price Forecast: Easing monetary policy will be crucial to push XAU/USD higherHigher than expected US inflation number weighed on Gold. Economists at ANZ Bank analyze the yellow metal’s outlook.
Read more »