Gold price predictions on the Forext market, analysis, and the latest news on precious metals

Can gold secure daily close above $1800?

Spot gold has moved tantalisingly close to the psychologically-important $1800 level amid rising expectations for a less-hawkish Fed, in light of the deceleration seen in the latest CPI and PPI prints.

12 August 12:11

Softer US NFP, CPI may keep gold above $1800

Heightened geopolitical tensions following Pelosi’s contentious visit to Taiwan appear to have lent themselves to stronger bids for gold, with the precious metal having already benefitted from the moderating US dollar and Treasury yields.

5 August 11:54

Gold climbs on perceived “dovish” Fed

Gold is taking advantage of the softer US dollar as markets perceive the latest policy clues out of the Fed to be relatively dovish. The precious metal is trading around its highest levels since early July and is set to register back-to-back weekly gains.

29 July 12:42

Gold needs dovish Fed surprise to climb significantly past $1700

Gold is still keeping its head above $1700 and could end a run of five straight weekly declines. However, spot prices are easing in the face of a resilient US dollar, as the next Fed rate hike looms.

22 July 12:48

Gold limps into the weekend

The past few days have certainly not been kind to gold. After struggling to nurse deep wounds inflicted by last week’s brutal selloff, the precious has descended deeper into the abyss.

15 July 09:50

‘Death cross’ sank gold below $1800 this week

The ‘death cross’ formed at the onset of this week proved to be the technical catalyst that sank spot gold well below $1800, with the end-September lows perhaps soon being called upon to offer stronger support for ailing bullion prices.

8 July 12:30

India’s import tax hike adds to gold’s woes

India’s import tax hike appears to have heaped more downward pressure on spot gold, with the precious metal already being weighed down by the prospects of higher interest rates and the aggressive inflation-fighting rhetoric from central bankers.

1 July 12:59

Gold stuck between rate hike concerns and recession fears

Despite edging higher today, gold remains below its 200-day simple moving average and also below a key Fibonacci retracement level from its August 2021 through March 2022 ascent. At the time of writing, spot gold is headed for a third weekly decline in the past four.

24 June 12:41

Gold’s upside capped by Fed rate hikes, for now

Gold is paring some of Thursday’s gains, as the resilient US dollar eats away at the precious metal’s ability to climb significantly higher. Spot gold is now testing its immediate support level at the 200-day simple moving average. The resurgent US dollar is weighing on gold prices, with the precious metal paring some of its gains in the immediate aftermath of the Fed’s latest policy signals.

17 June 12:32

Gold awaits potential US inflation catalyst

Spot gold has been meandering around the mid-$1800 region ahead of the incoming US CPI print, with 10-year Treasury yields also not straying far from the psychologically-important 3% mark.

10 June 12:31

Gold set for third straight weekly gain

Gold bugs have been riding the slipstream left by the lower US dollar and Treasury yields, though Friday’s price action is taking some of the shine off bullion. Still, gold prices are on the cusp of posting a third consecutive weekly gain, fuelled by persisting fears over a possible US recession.

3 June 11:12

Gold waits for fresh directional catalyst

Gold prices edged slightly higher on Friday morning, drawing strength from a weaker dollar and subdued treasury yields.

27 May 09:12

Gold’s rebound may not last

Gold has benefitted from the classic risk-off moves in global markets this week. However, gold bugs will be wary of the Fed’s dogged resolve to combat inflation with even more rate hikes, threatening to send Treasury yields even higher.

20 May 11:41

Gold set for return to $1800

Spot gold is seeing some slight reprieve before the weekend as King Dollar moderates after Fed Chair Powell once again resisted against the idea of a 75 basis point hike.

13 May 12:23

Gold set for back-to-back weekly drops on Fed hikes outlook

The unrelenting rise in US Treasury yields and the dollar has dragged gold below the psychologically-important $1900 level, with spot prices now languishing below its 100-day moving average and a key Fibonacci level. Gold was unable to capitalize on Fed Chair Powell’s less-hawkish than expected message this week, with bullion bulls aware that US rates are bound to rise anyway, just not likely by way of a 75 basis point hike.

6 May 12:47

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