Gold price (Yellow Metal), Silver (XAG/USD) extends its recovery for a 2nd consecutive day, trading around $2,636 in European hours on Tuesday, as Ukraine has already launched US-made ATACMS ballistic missiles into Russia, according to reports from local media RBC citing a source from the Ukrainian Armed Forces. The move has escalated fears of a nuclear war, prompting investors to flee towards safe-haven assets such as Gold.
Commodities
Gold Defends Key $2,547 Support; What’s Next?
Spot Gold Price Forecast: The short-term technical outlook for Gold price remains more or less the same, with any recovery attempts likely to be short-lived as long as the 14-day Relative Strength Index (RSI) stays bearish.
Downside Momentum likely to Accelerate Gold Below $2600
Gold Outlook: “The momentum break experienced on election day typically marks the end of such moves. But if that is the case, what can we expect from here? The melt-up has created a notable margin of safety for macro fund positions, which now hold significant paper profits on their extremely bloated length. Large scale selling activity from CTAs will only kick off below $2600/oz.”
Gold prices fell to a one-week low in line with US Inflation data
Safe-haven gold prices may get some support from the slight decline in the US dollar (USD) along with the risk of further escalation of geopolitical tensions in the Middle East. Traders may also avoid placing aggressive bets ahead of the release of the FOMC meeting minutes on Wednesday. In addition, the US Consumer Price Index (CPI) and the US Producer Price Index (PPI) to be released on Thursday and Friday should provide fresh momentum to Yellow Metal.
Gold Investors Await Fed Policy Announcements
Gold Investors And Fed Policy: The US economic calendar will feature Retail Sales data for August on Tuesday. Investors expect a monthly increase of 0.2% following the 1% growth recorded in July. A negative print could make it difficult for the USD to find demand and help Yellow Metal edge higher. Nevertheless, the market reaction is likely to remain short-lived, with investors refraining from taking large positions ahead of the Fed’s monetary policy announcements on Wednesday.
Gold in the last leg of the 5th wave ABC
Following up from our last update titled “Are Bulls Teasing Bears?”, we are witnessing an exhilarating finish to the week as gold makes a remarkable $100 jump since our last analysis. This thrilling surge forms part of the final leg, Wave 5, of the proposed ending diagonal structure. True to Elliott Wave principles, each wave within this structure is subdividing into three smaller waves, ABC.
China’s crude oil reserves fell significantly in July 2024
The International Energy Agency (IEA) has revised its forecast for crude oil demand slightly downwards this year. This was due to a significant slowdown in demand in the second quarter, particularly in the emerging economies, where the annual increase was the lowest since 2020, which was impacted by the COVID-19 pandemic, Commerzbank’s Commodity Analyst Carsten Fritsch notes.
मजबूत उत्पादन के बावजूद जीरे की कीमतों में तेजी
बंपर उत्पादन के बावजूद जीरे की कीमतें ऊंची बनी हुई हैं, जिससे उद्योग को संदेह है कि व्यापारी और बड़े किसान अधिक कीमतों की उम्मीद में जमाखोरी कर रहे हैं।
सोने की कीमत अगले हफ्ते फेडस्पीक पर प्रतिक्रिया दे सकती है
Gold Price News: सोने ने गति पकड़ी और शुक्रवार को अधिकांश साप्ताहिक लाभ मिटाने से पहले जनवरी की शुरुआत के बाद से 2,060 डॉलर से ऊपर चढ़कर अपने उच्चतम स्तर पर पहुंच गया। उच्च स्तरीय व्यापक आर्थिक डेटा रिलीज के अभाव में फेडरल रिजर्व (फेड) के अधिकारियों की टिप्पणियां अगले सप्ताह कीमती धातु के मूल्यांकन पर असर डाल सकती हैं।
फेड अध्यक्ष पॉवेल के शब्द सोने की कीमत मिश्रित तकनीकी संकेतकों के लिए महत्वपूर्ण हैं।
Federal Reserve: मंगलवार को शुरुआती अमेरिकी कारोबार में सोने की कीमतें (gold prices) दस दिन के उच्चतम स्तर 2,049 डॉलर से ऊपर पहुंच गईं, क्योंकि अमेरिकी डॉलर (USD) ने सभी महत्वपूर्ण अमेरिकी फेडरल रिजर्व (FED) में व्यापक जोखिम-घृणा के बीच ताजा मांग को आकर्षित किया। है। ब्याज दर निर्णय का दिन.