Forex News 24
  • RSS

news

Gold Prices Under Pressure from Dollar

Gold Prices Under Pressure from Dollar
админ
09/03/2018

gold 3 300x169 - Gold Prices Under Pressure from Dollar

Gold prices continued to flounder on the back of dollar strength.

Gold prices continued their fall lower on the back of a stronger dollar and so far, the gold market does not seem to be need any sort of major reason to either move higher or move lower for that matter. It continues to range between a large range between the 1300 and 1360 regions and it has been finding it difficult to move out of the same since the beginning of the year. Unless and until a breakout happens, we will advise the traders to continue to trade the range with the stop loss and take profit in the correct areas. If and when a breakout happens, it is likely to be a strong one though.

Gold Lower

Yesterday, the reason for the fall in the gold prices was due to the strength in the dollar as the bulls got a shot in the arm as the tariff plan that was signed by Trump was a much watered down version of the original plan. This plan gave exemptions to its neighbours like Mexico and Canada and at the same time, this plan also kept the door open for exemptions for others as well, in due course of time. This came as a major relief to the investors and the dollar bulls and their showed their appreciation by buying the dollars. This has since pushed the prices below the 1320 region where it continues to trade as of this writing. But the release of the NFP employment data from the US later in the day is likely to rock the markets and hence traders are advised caution.

XAUUSD.fixH1mar9 - Gold Prices Under Pressure from Dollar
Gold Hourly

The oil prices also fell lower yesterday but it managed to find some good support in the $60 region where it trades as of this writing. It remains to be seen whether the oil prices would be able to rebound and the strength and the weakness in the dollar could determine its next move.

The silver prices also continued to trade in a choppy manner, which it has been doing over the past few months and it is likely that this would continue in the short and medium term as well.

Source

Related ItemsbullsDollargoldGold PricesmarketmarketspricesregionsilvertradeTrumpUS

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Anti-spam: complete the taskWordPress CAPTCHA


news
09/03/2018
админ
Related ItemsbullsDollargoldGold PricesmarketmarketspricesregionsilvertradeTrumpUS

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

Dollar Rallies after Draghi Signals Normalization Would Be Gradual
FX levels to watch – EUR/USD, GBP/USD, AUD/USD