Gold (XAU/USD) price is holding in a bullish territory after climbing from the start of the week’s low near $1,821 and reaching a high of $1,847. However, the yellow metal finished with a loss on Thursday, following three three-day winning streak, as strength in the U.S. dollar weighed. The US Dollar Index, DXY,a measure of the greenback’s strength against a basket of rivals, gained 0.6% to 105.102
Gold Forecast 2023: US Dollar strength and central bank tightening have weighed heavily on the gold market in 2022. In the near term, there is room for more downside with further tightening expected. The medium-term outlook looks more constructive.
Gold price continued to push lower in the second half of the day on Monday and broke below $1,775. Following the upbeat ISM Services PMI report from the US, the benchmark 10-year US Treasury bond yield is up more than 2%, forcing yellow metal to stay under bearish pressure.
![Gold Weekly Data Update [HINDI]](https://www.goldsilverreports.com/wp-content/uploads/2018/07/us-data-xksxdjks@nealbhaireports.jpg)
Gold Weekly Data Update: सोने की कीमत व्यापक रूप से अमेरिकी डॉलर की कमजोरी से लाभान्वित हुई और 1,800 डॉलर से ऊपर बंद होने में विफल रहने के बावजूद इस सप्ताह लगभग 2% की बढ़त हासिल की। यूएस से उच्च प्रभाव वाले डेटा रिलीज़ की अनुपस्थिति में, निवेशक चीन से कोरोनावायरस से संबंधित सुर्खियों पर कड़ी नज़र रखेंगे और नए दिशात्मक सुरागों के लिए सोने (Gold) के तकनीकी विकास का आकलन करेंगे।
Gold price is reversing from a fresh four-month high above $1,800, as bulls take a breather before the United States Nonfarm Payrolls (NFP)-led massive volatility storm. The US Dollar has paused its downward trajectory amid a minor uptick in the US Treasury bond yields and a cautious market mood.
Gold Silver Outlook: Gold and silver futures prices are trading solidly higher today following a dovish speech on interest rates by Federal Reserve’s Jerome Powell on Wednesday. Consequently, a weaker dollar has kept the gold price on track for its best month since May 2021. Gold prices gained 7% in November. Besides, precious metals also got support due to weak US labour market data. The dollar index showed its biggest monthly fall since 2010 and supported global commodity prices.
US Fed Policy Decision: डॉलर में तेजी के साथ सोना दो साल से अधिक समय में सबसे निचले स्तर के करीब पहुंच गया, निवेशकों ने फेडरल रिजर्व की ब्याज दरों में बढ़ोतरी के संभावित आकार का वजन किया।
Spot Gold Forecast: Gold price failed to break above $1,800 in August, with the downtrend continuing. Key supports of $1,700 and $1,675 have been broken. Strategists, Expect Gold (XAU/USD) to dive towards $1,624.
Gold steadied after plunging to its lowest level in two years, as economic data from the US increased the likelihood of prolonged monetary tightening and stoked fears of recession.
