Fundamental view: As the corona virus crisis became the primary driver of financial markets last March, the greenback adopted the role of a safe-haven and formed a strong inverse correlation with major equity indexes in the US. Amid strong upbeat macroeconomic data releases and the coronavirus vaccine rollout, the above-mentioned correlation seems to have started [...]
Fundamental view: After gaining more than 1% in the previous week, the XAU/USD pair struggled to preserve its bullish momentum and edged lower during the first half of the week and showed upward movement in the end day of the week. U.S. Dollar held steady, taking some of bullion’s allure kept it on track for [...]
Fundamental view: Gold markets have gone back and forth during the course of the week, showing signs of volatility. Biden's plan to introduce spending of $1.9 trillion, a figure that amounts to 9.1% of US 2020 GDP, appears to have been priced into gold prices and did not deliver a much-needed boost to the yellow metal. Treasury Secretary Janet Yellen, [...]
Fundamental view: Last week, the sharp upsurge witnessed in the US Treasury bond yields provided a support to the USD and caused XAU/USD to suffer losses. The benchmark 10-year reference preserved its bullish momentum and closed in the positive territory on Monday but snapped its five-day losing streak on Tuesday amid a lack of significant [...]
