Gold Price Forecast: XAU/USD bears are stepping in below $2,000 Gold Commodities DollarIndex Fed
d price is trading near $1,979 and has traveled between $2,009.85 and $1,965.99 so far this week for the initial balance.
Fundamentally, bank stocks are a driving force that rallied on Monday with a tentative sigh of relief due to the rescue of Credit Suisse with UBS buying the troubled bank for 3 billion francs . The speedy measure to stem contagion, however, does not guarantee anything and some argue that was has occurred is just the tip of the iceberg. For instance, shares in First Republic Bank, the lender drawing the most concern from US investors right now cratered 33.
It’s also possible that “we just go from one weak institution falling over to the next,” said Vicky Redwood, senior economic adviser at Capital Economics. There are no other obvious candidates that could be singled out like Credit Suisse, but it’s “hard to predict where the problems will emerge,” she explained.Meanwhile, the Gold price will be sensitive to the US Dollar and the Federal Reserve this week. Fed funds futures show a 26.
´´Despite banking regulators rushing to shore up market confidence, the uncertain macro backdrop continues to entice buying. Bullion-backed ETF saw strong inflows, with SPDR Gold Share’s holding increasing by more than 204kz last session,´´ analysts at ANZ bank explained. ´´Swaps traders remain split on whether the US Federal Reserve will hike again this year. All eyes now shift to the Fed’s two-day meeting. Any dovish commentary should help support the precious metals sector.´´
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gold Price Forecast: XAU/USD retreats towards $1,960 as yields rebound, Federal Reserve eyedGold price (XAU/USD) takes offers from the Year-To-Date (YTD) high while targeting the previous resistance surrounding $1,960, near $1,976 by the pres
Weiterlesen »
Gold Price Forecast: XAU/USD is gathering strength for a sustained break above $2,000Gold price retreats from 11-month highs before challenging $2,000, FXStreet’s Dhwani Mehta reports. Immediate support is seen at the February high of
Weiterlesen »
Breaking: Gold Price Forecast: XAU/USD rallies to over one-year peak, further beyond $2,000 markBreaking: Gold Price Forecast: XAU/USD rallies to over one-year peak, further beyond $2,000 mark – by FXstreetNews Breaking Gold Commodities RiskAversion XAUUSD
Weiterlesen »
Gold Price Forecast: XAU/USD to head gradually toward $2,055/75 – SocGenGold has embarked on a steady up move. Economists at Société Générale expect the yellow metal to enjoy further gains toward the $2,055/75 region. Rece
Weiterlesen »
Gold Price Forecast: XAU/USD refreshes 11-month high near $1,990 as signs of steady flat policy soarGold price (XAU/USD) printed a fresh 11-month high at $1,988.33 on Friday. The precious metal is approaching the psychological resistance of $2,000.00
Weiterlesen »
Gold Price Forecast: XAU/USD corrects to near $1,970 on UBS-Credit Suisse deal, Fed policy eyedGold price (XAU/USD) corrected to near $1,970.00 after UBS announced the Credit Suisse rescue plan. The precious metal is gauging a cushion around the
Weiterlesen »