Tag: forex

GOLD Gold is rising, continuing the momentum of the previous session when the precious metal gained more than 1% following Jerome Powell’s testimony to Congress where he defended the continuation of the current Fed’s accommodative policies to support the economic recovery and described inflationary pressures as a temporary issue. Such remarks penalised the dollar, cancelling…

GOLD Gold rose during early Wednesday trading, with its safe-haven appeal increasing as investors reacted to news that several countries in the Asia-Pacific region continue to tighten restrictions in efforts to halt rising COVID cases. However, the precious metal’s gains were capped by the strengthening of the dollar, that followed the publication of US inflation…

GOLD Bullion’s trend continued to slow-down for the end of the week as the “risk-on” mood remained, and the US dollar stayed flat. Technically speaking, the bullish break-out registered on Tuesday remains valid despite the lack of directionality of the end of the week, due to lingering uncertainty over many asset classes. Indeed, investors have…

GOLD Gold edged higher during early Wednesday trading, with the gains attributable to some dollar weakness in the runup to the publication of the latest FOMC minutes, as well as a drop in risk appetite. The sudden halt in the rise of oil prices on Tuesday resulting from a growing rift between Saudi Arabia and…

GOLD Gold keeps on edging higher for the fifth trading session in a row as investors continue their rotation to safer assets amid rising global uncertainty. The situation looks reassuring for bull traders from a technical perspective after the price achieved a new high above $1,800, ending the short-term consolidation. Both moving averages are now rising…