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Gold Prices Test Key Chart Resistance on Weaker Dollar, FOMC Minutes Eyed of clients are net short. Long News of clients are net short. Long News GOLD PRICE OUTLOOK: A weaker US Dollar and heightened inflationary pressure are buoying the appeal of precious metals XAU/USD may see a minor pullback as prices hit the ceiling of an “Ascending Channel” Gold prices retreated slightly during Wednesday’s Asia-Pacific trade after reaching a 14-month high. The recent surge in prices rendered the precious metal vulnerable to profit-taking at key chart resistance at $1,875. Meanwhile, traders await April’s FOMC minutes and core inflation figures from the UK, Europe and Canada later today. These may offer clues about rising price levels around the globe and could impact central banks’ monetary policy stance. ....
Gold prices retreated from a three-month high as the US Dollar strengthened alongside the 10-year Treasury yield. Wednesday’s US inflation data will be closely eyed by bullion traders. ....
Gold Prices May Rise Despite Muddled Yellen Remarks and Here is Why of clients are net short. Long News of clients are net short. Long News GOLD PRICE OUTLOOK: Gold prices may rebound after Treasury Secretary Janet Yellen clarified her interest rate comments Market remains jittery about rising inflation and worsening pandemic situations in some emerging markets, buoying demand for gold Gold prices may aim to breach US$ 1,800 – an important psychological resistance level Gold prices rose slightly during Wednesday’s APAC trading session after falling nearly 0.8% a day ago. US Treasury Secretary Janet Yellen clarified that she wasn’t trying to predict interest rate hikes to rein in inflation pressure following a hawkish-biased comment on Tuesday. Markets have perhaps over-reacted on her earlier words, underscoring the fragility of risk as ....