Fundamental view: Gold traded high compared to greenback in the previous week. In the absence of high-tier macroeconomic data releases and fundamental developments, the USD’s market valuation drove XAU/USD’s movements at the initial of the week. On the other hand while testifying before the House Select Subcommittee on the Coronavirus Crisis, Powell adopted a less-concerned [...]
Fundamental view: Last week gold was crushed, with it having one of its worst weeks since Coronavirus hit last year. And it is worth recalling that the Fed took a sudden hawkish turn on Wednesday and brought forward its projections for the first post-pandemic interest rate hikes to 2023. The Fed also indicated that it [...]
Fundamental view: Gold showed a bearish trend last week. Gold has failed to capitalize due to falling US Treasury bond yields. Because of the absence of high-tier macroeconomic data releases, the benchmark 10-year US T-bond yield, lost more than 4% on the uninspiring May jobs report on Friday. University of Michigan said on Friday that [...]
Fundamental view: Gold has posted loss this week against the greenback. US inflation expectations and Treasury bond yields continue to impact gold’s performance. The data from the US showed on Tuesday that the business activity in the manufacturing sector continued to expand at a strong pace which helped the US dollar. The Automatic Data Processing [...]
