Tag - gold

Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.

Gold prices have stabilized at around $2,020 ahead of Tuesday's trading session, following last Friday's dip. Recent fluctuations in risk sentiment have been the driving force behind the pricing of the precious metal. How does this look on the charts? Let’s find out.

It's been an exciting start to the week, and month, for the US Dollar, as it gained some bullish momentum on Monday thanks to a 0.5% rise in the US Dollar Index (DXY), propelled by a whopping 4% increase in the benchmark 10-year US Treasury bond yield. This surge saw the DXY reach a new high not seen since April 11, hitting 102.40. However, this didn't last long, as the DXY dropped to 102.00 after the bond yield fell sharply in the wake of the latest US data.All eyes are now on the upcoming Federal Reserve (Fed) two-day...

De-dollarization is the hot new trend, as countries give the greenback a break and seek alternatives for international trade. With geopolitical tensions and economic tangoes, the US dollar...

Oh, look at that! NFP is coming up shortly, and while some predict that XAU/USD could reach new heights in 2023, reports from other analysts...

As we await the publication of the Nonfarm payrolls on the 3rd of March, the technical side of things does not seem to favor the US Dollar. Let's see how the Dollar looks up from the technical side of things.

As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.

The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone…

A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone.

A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone

For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances

Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of ​​creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.