Fundamental view: Gold started the week with a positive node but later suffered heavy losses after it broke below the lower limit of its two-week-old range at $1,720. The upsurge in yields helped the greenback to gather strength and pushed the yellow metal down while rising global equity indexes gave a helping hand to gold by [...]
Fundamental view: The yellow metal struggled to find direction and fluctuated in a relatively tight range. Although the greenback continued to outperform its major rivals with the help of upbeat data releases. In the last week, While testifying before the US House Committee on Financial Services on the Federal Reserve’s response to the coronavirus crisis [...]
Fundamental view: The yellow metal moved up and down against greenback in the previous week. The US dollar’s market valuation, rather than risk sentiment, remained the primary driver of XAU/USD’s movements throughout the week. Powell’s dovish tone and the FOMC’s commitment to continue to support the economic recovery triggered a USD selloff late on Wednesday [...]
Fundamental view: Gold markets have gone back and forth during the course of the week. At the beginning of the week, the data from China revealed that Exports in February made a surge by 60.6% on a yearly basis and beat the market expectation for an increase of 38.9% with a wide margin. As a negative [...]
