Open Account

TODAY XAUUSD SIGNAL : Gold Price Analysis XAUUSD hangs near two-week low, around $1,830 area amid stronger USD

XAUUSD SIGNAL

TODAY XAUUSD SIGNAL : Gold Price Analysis XAUUSD hangs near two-week low, around $1,830 area amid stronger USD

  • Gold edged lower for the second straight day and dropped to a nearly two-week low on Wednesday.
  • Rising US bond yields continued lending support to the USD and drove flows away from the XAUUSD.
  • The worsening global economic outlook could help limit deeper losses for the safe-haven commodity.

TODAY XAUUSD SIGNAL : XAUUSD Gold witnessed some selling for the second successive day and dropped to a near two-week low, around the $1,830-$1,829 region during the early part of trading on Wednesday. The US dollar built on the previous day’s solid rebound from over a one-month low and gained some follow-through traction amid rising US Treasury bond yields. This, in turn, was seen as a key factor that undermined demand for the dollar-denominated commodity.

Speaking at an event in Frankfurt on Monday, Fed Governor Christopher Waller backed a 50 bps rate hike for several meetings until inflation eases back toward the central bank’s goal. This, in turn, pushed the yield on the benchmark 10-year US government bond to a nearly two-week high, which continued acting as a tailwind for the USD and contributed to driving flows away from the non-yielding gold. Apart from this, the downfall could further be attributed to some technical selling following the overnight beak below the very important 200-day SMA.

TODAY XAUUSD SIGNAL : That said, the worsening global economic outlook offered some support to the safe-haven gold. Investors remain worried that central banks can hike interest rates to curb inflation without impacting economic growth. The XAUUSD, which is often seen as a hedge against inflation, could further benefit from concerns that the global supply chain disruption would push consumer prices even higher. This, in turn, warrants some caution for aggressive bearish traders and before positioning for any further depreciating move for the metal.

Market participants now look forward to the US economic docket, featuring the ISM manufacturing PMI and JOLTS Job Openings later during the early North American session. This, along with the US bond yields, will influence the USD price dynamics and provide a fresh impetus to gold. Apart from this, traders will take cues from the broader market risk sentiment to grab short-term opportunities. The focus, however, would remain on the closely watched US monthly jobs report, popularly known as NFP, scheduled for release on Friday.

Confuse Which Broker is best ? , Here you can find the best regulated broker

Categories
Recent Posts

FIRST CAPITALS brand is authorized and regulated in various jurisdictions.
First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 187/15, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 47710. The company is also registered with the Financial Conduct Authority of the UK with FRN 713478 and Register number 06331319
First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority of the UK with FRN 713478 and Register number 06331319
International Capital First Strategy (www.First Capitals.com/uk) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012265.
Card transactions are processed via International Capital First Startegy Technical ACADEMY Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via International Capital First Startegy Technical ACADEMY Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower,75 Westow hill , Crystal Palce,London, SE191TX .
International Capital First Startegy Technical ACADEMY Ltd is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.
Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence. Please read FIRST CAPITALS’s full Risk Disclosure.
Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs

© 2011 – 2021 FIRST CAPITALS 

Facebook-f Twitter Linkedin Instagram Youtube Telegram-plane
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms

FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

Exinity Limited (www.First Capitals.com/uk) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via Exinity Services Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

© 2011 – 2021 FIRST CAPITALS