Gold correction tests $4,280 support after failing at $4,700
Gold reversed from the $4,700 area and corrected to $4,280 before bouncing. A bearish trend line at $4,480 now caps the recovery attempt.
Gold Market
Tagged: gold price
Gold edges higher as dollar weakens ahead of US inflation data
Gold prices edged higher on Tuesday as the US dollar softened. Traders are now focused on upcoming inflation data that could shape the Federal Reserve’s interest-rate path.
Gold awaits bigger catalysts beyond Friday’s US CPI data
Gold’s price range of 4,230–4,697 remains intact. Friday’s US CPI may shift prices within that zone, but the bigger forces are the Fed’s expected rate peak, oil normalisation and the dollar debasement trade.
Gold slides 0.4% on hot US jobs data, Fed rate hike bets rise
Gold dropped more than 0.4% on Monday after Friday’s US jobs report beat expectations, boosting bets that the Federal Reserve will raise interest rates again. Markets now price a 60% chance of a move in September.
Gold price holds near $4,400 as mixed signals keep traders cautious
Gold opens the week near $4,400, caught between rate hike fears from strong US jobs data and support from a stable dollar. Technical indicators suggest consolidation.
Gold’s two-week slide tests support but long-term trend intact
Gold posted a second consecutive weekly loss, settling at $4,477 on Friday. The week’s low of $4,329 was below the prior support zone before a bounce.
Gold Slides Nearly $100 After Strong US Jobs Data
Gold dropped nearly $100 on Friday after a surprise surge in US nonfarm payrolls boosted rate-hike expectations. The metal is set for a second consecutive weekly loss, and traders now look to next week's inflation data.
Gold price slips further after strong US jobs report fuels rate hike bets
Gold extended its weekly losses on Friday, falling another 0.80% as the US dollar and bond yields rose on bets that the Fed could raise rates in September.
Central banks added 23 tonnes of gold in July, pace slows
Central banks bought a net 23 tonnes of gold in July, the World Gold Council reported. Year-to-date purchases of 130 tonnes lag last year, with higher prices prompting caution.