Gold is struggling to move higher as haven assets remain in the doldrums. This week’s Fed policy decision and US Jobs Report are likely to wake up the precious metal.
The US dollar is lack luster in early trade but continues to build a bullish flag formation, suggesting the greenback is set to go higher. This week’s US data and events will frame the next move, but if the US dollar keeps within the Bull flag formation, then a break higher would see the recent high at 107.36 come under pressure.While the US dollar looks technically bullish, gold is starting to look bearish, at least on a short-term basis.
IG Retail Trader data shows 53.40% of traders are net-long with the ratio of traders long to short at 1.15 to 1.The number of traders net-long is 2.13% lower than yesterday and 3.38% higher than last week, while the number of traders net-short is 2.69% higher than yesterday and 6.01% lower than last week.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Gold price struggles to lure buyers amid positive risk tone, reduced Fed rate cut betsGold price (XAU/USD) struggles to capitalize on the previous day's bounce from over a two-week low – levels just below the $2,300 mark – and oscillates in a narrow range during the Asian session on Wednesday.
Baca lebih lajut »
Gold Price Forecast: XAU/USD holds below $2,400 on Fed hawkish comments, eyes on geopolitical risksGold Price (XAU/USD) attracts some sellers around $2,385 on Monday during the early Asian trading hours.
Baca lebih lajut »
Gold price soars amid geopolitical tensions, hawkish Fed remarksGold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel.
Baca lebih lajut »
Gold price pulls back amid risk-on impulse despite hawkish Fed remarksGold prices retreated from close to weekly highs during the North American session on Wednesday amid an improvement in risk appetite.
Baca lebih lajut »
Gold price rises amid Fed Powell’s comments, Middle East tensionsGold prices edged higher late in Tuesday’s North American session, gaining 0.22% following a hawkish tilt by Federal Reserve Chair Jerome Powell.
Baca lebih lajut »
Gold price rebounds despite expectations of Fed rate cutsDespite expectations that the Fed will keep interest rates at current levels, the price of gold has rebounded due to increasing geopolitical tensions and physical gold buying by global central banks.
Baca lebih lajut »