Gold Holds Ground After 3% Drop on Warsh's Hawkish Stance
8 Articles
8 Articles
XAU/USD battles key support amid renewed Iran and Fed hike risks
Gold is extending Friday’s correction into early Monday, testing the lowest level in eight days near $4,400. Gold cracks on hawkish Fed, Iran risks Gold fades a temporary recovery seen in the last hours, as bears remain in control heading into the US Nonfarm Payrolls (NFP) week, despite a broad US Dollar (USD) pullback from two-week highs. The Greenback is pulling back on profit-taking after a steep rally on Friday. However, a deeper retracement…
The Economic Times
Gold holds ground after 3% drop on Warsh's hawkish stance
On Monday, gold prices held steady following a noteworthy decline. Federal Reserve Chair Kevin Warsh suggested that interest rate hikes could be on the horizon, leading markets to predict an increased chance of a September rate rise. Labor market reports set to be released this week will offer additional economic clarity. Other precious metals also experienced slight fluctuations.
Gold Correction, Not Reversal? Why $4,300 Is the Line That Matters - ActionForex
Gold's fall from 4,697.07 to around 4,423 looks more like a correction than a reversal — Warsh repriced rate timing and trimmed some fiscal-credibility premium, but the longer-run Fed path and US fiscal arithmetic are unchanged, leaving the 4,320-4,338 support cluster as the level that would need to break to challenge that base case. The post Gold Correction, Not Reversal? Why $4,300 Is the Line That Matters appeared first on ActionForex.
Host: Mak Ka-yan Guest: Lu Chi-ming, Director of Investment Strategy Department, Datang Capital Opening Highlights: The Hang Seng Index opened 164 points lower at 25420. The Hang Seng China Enterprises Index and the Hang Seng Tech Index...
Last week marked the beginning of volatility in the gold market. The market's attention was drawn to remarks by US Federal Reserve Chairman Kevin Warsh....
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