Gold Price Forecast: XAU/USD, nothing new here, but a breakout is nigh By ross_burland Gold DollarIndex Commodities Fed Ukraine
The gold price is stuck in familiar ranges, bouncing around between a daily resistance and support channel. However, like a coil, the build-up of ener
gy and maintained force could be about to set off an almighty breakout, one way or the other..XAU/USD is trading in a relatively tight range near $1,920.T&C Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
At the time of writing, XAU/USD is trading at $1,934.09, higher by some 0.All eyes will remain on the Fed officials’ debate about the prospects of aggressive tightening in the coming months while any hints on the balance sheet reduction will be also closely eyed.43% and has travelled between a range of $1,920.Investors are building fresh long position in gold “Geopolitical risk continues to remain the key price driver, which would see strong appetite for safe-haven demand.62 and $1,937.A sustained break below the latter will call for a test of the ascending 50-Daily Moving Average (DMA) at $1,903.85.FX PUBLICATIONS IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS.
The gold price has been extremely resilient to the most hawkish Federal Reserve in a generation.” “On the upside, the 21-DMA at $1,941 will be the first test for gold bulls on the road to recovery, above which the previous day’s high of $1,945 will be challenged.” “We expect gold prices to remain above $1,900/oz this year.Instead, the gold price is elevated due to protection against the fog of war and could also be associated with the inflationary and/or recession narratives playing out in markets.It is worth taking note of positioning in the futures markets.” Information on these pages contains forward-looking statements that involve risks and uncertainties.''Money managers cut their gold long exposure and increased short positioning, as rates along the yield curve continued to move higher.You should do your own thorough research before making any investment decisions.Specs also reacted to the hope that the Russia-Ukraine tensions may ease, lower crude oil prices and moderate inflation expectations,'' analysts at TD Securities explained.You should do your own thorough research before making any investment decisions.
''The combination of somewhat less geopolitical risk and the general view that the Fed is behind the curve, prompted speculation that the US central bank has the runway to aggressively tighten policy, an impression which was supported by statements from Fed officials.Given that March payrolls were strong, the belief that there may be several 50 bps Fed Funds increases in the cards drove crude lower on Friday, which suggests that investors may continue to reduce long exposure in the yellow metal,'' the analysts concluded.It also does not guarantee that this information is of a timely nature.Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.This would indicate that the bias is to the downside in absence of an escalation in the Ukraine crisis.As the analysts at TD Securities warn, due to the lack of shorts in the market, leaves gold vulnerable to de-escalation in the war ''or a change in the market's focus as the fear of trade subsidies, given that there are no shorts in sight.All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.'' Meanwhile, in today's markets, US equities have dropped while the benchmark US Treasury yields remain bid on due to the narrative surrounding the US central bank.The author will not be held responsible for information that is found at the end of links posted on this page.
The minutes released yesterday from the Fed's March meeting underpin the worries of higher prices and reinforce the prospect that the US central bank's balance sheet reduction is imminent.The author will not be held responsible for information that is found at the end of links posted on this page.St.Louis Fed president James Bullard amplified these risks by saying the Fed remains behind the curve despite increases in mortgage rates and government bond yields.The author has not received compensation for writing this article, other than from FXStreet.FXStreet and the author do not provide personalized recommendations.As a consequence, the US dollar is back on the bid and reaching fresh two-year highs as measured by the DXY index.At the time of writing, DXY is trading at 99.The author makes no representations as to the accuracy, completeness, or suitability of this information.
770, a touch below the highs of 99.Errors and omissions excepted.821 from the lows of 99.Errors and omissions excepted.399.The 25 May 2020 weekly highs are located at 99..975.
Gold technical analysis outlook , from a technical picture, is consolidation until either a clean break of $1,960 or $1,915 with firm daily closes above or below respectively.If the price is unable to break below $1,900, given the longer-term bullish trajectory, a run into the $2,000s is the more likely outcome of the build-up in this phase of consolidation.Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.You should do your own thorough research before making any investment decisions.
FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
The author will not be held responsible for information that is found at the end of links posted on this page.If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.The author has not received compensation for writing this article, other than from FXStreet.FXStreet and the author do not provide personalized recommendations.The author makes no representations as to the accuracy, completeness, or suitability of this information.
FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.Errors and omissions excepted.The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice..
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