Gold (XAU/USD) Buffeted by Fed Rate Hike Risk and Russia/Ukraine War Fears

, and longer-dated US Treasuries. Russia has massed around 100,000 troops near Ukraine’s border, sparking calls for ‘an unprecedented package of sanctions’ against the aggressor. This two-way struggle will keep traders on their toes and increase volatility in the precious metal over the weeks ahead.

The daily gold chart shows a recent series of higher highs and higher lows being made in the last six weeks as the precious metal moves slowly higher in a basic uptrend channel. All three simple moving averages are now back in a positive lineup, while longer-term horizontal resistance around $1,837/oz. is currently being tested. Above here, resistance lies at $1,849 and the multi-month high at $1,877/oz.69.31% of traders are net-long with the ratio of traders long to short at 2.26 to 1.

The number of traders net-long is 1.57% lower than yesterday and 1.26% lower from last week, while the number of traders net-short is 9.35% higher than yesterday and 1.48% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall.

Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold Price Forecast: Death cross signals caution for XAU/USD bulls ahead of FedGold price is treading waters below $1,850 as risk-off flows dominate. US Treasury yields and DXY rebound as the Fed meeting begins on Tuesday. DeathCross confirmation awaited on a daily closing basis, within a rising wedge. Trading FX 🤣...Gold. What does it do?
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Price Prediction: XAU/USD bets on reaching 1,855.31 at start of the week, trading opportunityGold has been holding onto its gains as a new week kicks off. A bullish scenario is emerging in the short term, providing an opportunity. XAUUSD Forecast
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Price Forecast: XAU/USD steady around $1838 despite broad USD strengthGold Price Forecast: XAU/USD steady around $1838 despite broad USD strength By christianborjon Gold XAUUSD Macroeconomics Technical Analysis Sentiment
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Price Forecast: XAU/USD approaches $1,848 yearly hurdle as risk sentiment dwindlesGold (XAU/USD) holds on to the week-start rebound towards the yearly resistance line, dribbles around $1,842 during early Tuesday morning in Europe. M
Source: FXStreetNews - 🏆 14. / 72 Read more »

Fed January Preview: Three possible scenarios for goldFOMC is widely expected to leave its policy rate unchanged. A hawkish Fed policy outlook could cap gold's upside. XAUUSD could target $1,870 in case US T-bond yields turn south on a dovish Fed surprise. US FX Forex Preview
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Futures: Near-term rebound on the cardsCME Group’s flash data for gold futures markets noted open interest shrank by around 3.9K contracts on Friday after four consecutive daily builds. In
Source: FXStreetNews - 🏆 14. / 72 Read more »