The yellow metal which has negative correlation (move in opposite directions) to the US Dollar was edging higher due to slightly less hawkish commentary from Fed Chair Jerome Powell. Gold price rallied hard, even though the resurgent US dollar demand on Thursday, as the dovish BOE rate decision added to the Fed’s push back of [...]
Gold prices retreated further on Wednesday due to the robust dollar. The US dollar showed strength from the beginning of the day against its commodity-rival, getting a boost early in the American session from upbeat US data, higher U.S. bond yields and rallying equities. The US Richmond Fed Manufacturing Index showed an improvement to 12 [...]
Gold reversed from the yesterday highs and is trading on sideline trend today amid the economic conditions in U.S. Yesterday Gold reached the peak level since the five months and it’s the best week for Gold. Despite widespread speculation that the U.S. labor market has healed enough for the Fed to begin reducing its monthly [...]
Gold prices moved up and down today against greenback and prices have consolidated within a range this week. The yellow metal has been sidelined as energy commodities roared and inflation fears fueled the US Dollar higher. Today it was stuck in a narrow range, as investors sought more direction from the U.S. non-farm payrolls report, [...]
