XAUUSD REPORT (FXVIEW)

[Terry_8]

GOLD TRADES HIGHER AMID RISING CORONAVIRUS CASES WORLDWIDE



After witnessing a volatile trading session yesterday, the bullion is trading higher in the Asian trading hours on Friday on the back of rising virus cases worldwide. The Covid-19 cases surging past the worrisome 102 million levels across the globe is supporting the gold prices. As of now, the precious metal is trading higher by 0.12% at the level of $1844.89 an ounce.
Meanwhile, the investors are awaiting any headlines related to the US economic relief bill of $1.9 trillion to aid the economic imbalance.
On Thursday, the yellow metal initially tested an intra-day low of 1834 level owing to the developments over the vaccination front. The Novavax vaccine was found to be 89% effective against Covid-19 in the United Kingdom. However, the downbeat US GDP data at 4%, lower than the forecast of 4.2% created sell-off in the greenback. Thus, the dollar-denominated gold touched an intra-day high of 1865 level but erased all its gains amid risk-on mood amongst the investors. Consequently, the bullion settled at the level of $1842.20 per ounce, with a marginal decline of 0.07%.
Going forward, the investors would remain watchful over the US Core Price index, Employment Cost, Personal Income, Chicago PMI and Inflation expectations data to decide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/284014036474303

 

[Petrick Liman]

Thanks! I'll consider it while trading GOLD on the next week

 

[Terry_8]

BULLION TRADES HIGHER AS RISING VIRUS CASES LEND SUPPORT



XAUUSD kicks-off the week with a gap-up opening in the early Asian trading hours in the backdrop of rising Covid-19 cases worldwide. The virus cases surging past the 103.5 million mark is rendering support to the yellow metal. As of writing, gold is trading at the level of $1862.61 per ounce, representing a gain of 0.86%.
Meanwhile, the investors remain concerned about the delay in the announcement of the US fiscal stimulus worth $1.9 trillion. The Republicans asked Joe Biden to downsize the Covid-19 relief package by $600 billion on Sunday.

On Friday, the precious metal touched an intra-day high of 1875.66 level amid mounting coronavirus woes which boosted its safe-haven appeal. However, gold eroded a major chunk of its gains after the US reported optimistic a slew of macro-economic data. The upbeat US data including Core PCE index,Employment cost along with Chicago PMI underpinned the demand for the dollar against the bullion. Consequently, the yellow metal ended higher at $1846.60 an ounce, up by 0.23%.

Looking ahead, investors would remain watchful over the US Final and ISM Manufacturing PMI, Construction Spending and ISM Manufacturing prices data to decide further trajectory of gold.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/285823516293355

 

[Terry_8]

XAUUSD FLASHES RED AMID RISK-ON MOOD AMONGST INVESTORS



Gold trades lower in the Asian trading hours on Tuesday in the backdrop of risk-on mood amongst the investors. As of now, the bullion is trading at the level of $1854.59 per ounce, representing a decline of 0.30%.

Meanwhile, investors would remain watchful over the negotiations between the US President Joe Biden and Republicans regarding the $1.9 trillion fiscal stimulus plan.

On Monday, gold witnessed a gap-up opening and tested an intra-day high of 1871.36 level as the virus cases surpassed the mark of 103.5 million. The higher number of Covid-19 cases boosted its safe-haven appeal. However, the precious metal pared some of its gains owing to broad-based strength in the greenback despite a downbeat US ISM Manufacturing PMI data announced in American trading hours. Consequently, the bullion ended higher by 0.73% at the level of $1860.26 per ounce.

Up ahead, the FOMC member Bostic’s speech would encourage the market participants to steer gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/286430276232679

 

[Terry_8]

GOLD: BULLS TAKE THE FRONT SEAT AMID OPTIMISM SURROUNDING US FISCAL STIMULUS


After witnessing a plunge of more than 1% yesterday, the bullion trades higher in the Asian trading hours on Wednesday on the back of rising US fiscal stimulus hopes. The US Treasury Secretary Janet Yellen pushed for the implementation of Joe Biden’s coronavirus rescue package on Tuesday. Further, the Democrats took their first step through Senate voting to advance $1.9 trillion package without Republicans’ support in the White House.

As of now, gold is trading at the level of $1840.98 per ounce, with a gain of 0.18%.

Talking about the previous trading session, the yellow metal encountered a sell-off as the greenback tested its multi-week high level. Further, the risk-on mood amongst the equity investors weighed over the bullion. Besides, the headlines related to the administration of more than 100-million Covid-19 vaccines worldwide also faded the safe-haven appeal of gold. Consequently, the precious metal tumbled by 1.21% to the level of $1837.60 an ounce.

Going forward, the US would unveil its ADP Non-farm Employment Change, Final Services and ISM Services PMI data which would decide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/287032892839084

 

[Terry_8]

GOLD EXTENDS LOSSES AS COVID-19 VACCINE ACHIEVES MILESTONE


XAUUSD extends losses in the Asian trading hours on Thursday amid progress over the vaccination front worldwide. The news about the Global Covid-19 vaccine shots exceeding the number of coronavirus cases globally is affecting the demand for the bullion. At the time of writing, gold is trading at the level of $1822.90 per ounce, representing a decline of 0.57%.

Meanwhile, investors are awaiting the execution of the US fiscal stimulus worth $1.9 trillion. The US President Joe Biden pledged on Wednesday not to reduce the cash handout included in the Covid-19 relief bill but was ready to narrow the parameters for qualification.

Talking about the previous trading session, the yellow metal initially tested an intra-day high of 1844.85 level as the virus cases surpassed the level of 104.5 million. The mounting Coronavirus woes pushed investors towards the safe-haven metal. However, the bullion pared all its gains owing to the optimistic US macro-economic data which supported the demand for the greenback. The ADP Non-Farm Employment Change and ISM Services PMI data were ahead of the market expectations which suggested that the economy is on a path to recovery. As a consequence, gold ended lower by 0.22% at the level of $1833.50 per ounce.

Looking ahead, the US will publish its Unemployment Claims, Prelim Nonfarm Productivity and Factory orders report which will steer the gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/287673476108359

 

[Terry_8]

GOLD INCHES HIGHER AMID RISING US FISCAL STIMULUS HOPES

After tumbling to more than 2-months low level in the previous trading session, gold snaps its 3-day losing streak in the Asian trading hours on Friday amid rising US fiscal stimulus hopes. The US lawmakers remained firm on Thursday towards the execution of awaited $1.9 trillion Covid-19 relief bill. Besides, the number of coronavirus cases surpassing the mark of 105 million is also rendering support to the yellow metal. As of now, the bullion is trading at the level of $1795.43 an ounce, with a gain of 0.12%.

On Thursday, gold encountered a sell-off due to optimism surrounding the developments on the vaccination front. The headlines related to the vaccination of people exceeding the total number of virus cases worldwide faded the safe-haven appeal of gold. On the other hand, optimistic US macro-economic data underpinned the demand for the greenback. The US Unemployment Claims came at 779k, defying the market expectations of 828k. Consequently, the precious metal ended lower by 2.19% at the level of $1793.24 an ounce.

Going forward, the US would unveil Average Hourly Earnings, Non-Farm Employment Change, Unemployment Rate and Trade Balance data which would decide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/288308169378223

 

[Terry_8]

GOLD EDGES LOWER ON DEVELOPMENTS OVER CORONAVIRUS VACCINE

XAUUSD flashes red in the Asian trading hours on Monday amid optimism surrounding the vaccine development. The news related to the UK studying the impact of mixing coronavirus doses is fading the safe-haven appeal of gold. Besides, the US Treasury yields hovering near the multi-month high level is increasing the opportunity cost of holding non-yielding bullion. As of now, the yellow metal is trading lower by 0.14% at the level of $1810.53 per ounce.

Meanwhile, the investors remain watchful over the execution of US Covid-19 relief bill worth $1.9 trillion.

On Friday, the precious metal witnessed buying pressure owing to downbeat US macro-economic data which undermined the demand for the greenback. The US average Hourly Earnings was lower than the expectations, while the Non-Farm Employment Change came at 49k, against the market forecast of 85k. Apart from that, the US President Joe Biden pushed for the fiscal stimulus to aid the virus battered economy. Consequently, the bullion ended higher by 1.11% at the level of $1813.20 an ounce.

Going forward, the US macro-economic calendar remains muted for the day. Thus, the virus status globally and headlines related to the US fiscal package would render intra-day trading opportunities

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/290096915866015

 

[Terry_8]

GOLD GAINS FOR 3rd STRAIGHT SESSION AS DOLLAR EXTENDS SLIDE
XAUUSD extends its gains for the third consecutive trading session in the Asian trading hours on Tuesday amid broad-based weakness in the greenback. The demand for gold remains cushioned as the US lawmakers approved a budget outline to pass the Covid-19 relief bill worth $1.9 trillion without the republican support. Moreover, it is expected that the bill could pass through Congress before March 15th. As of now, the yellow metal is trading at the level of $1840.49 per ounce, representing a gain of 0.55%.

Talking about the previous trading session, the bullion encountered a buying pressure amid mounting coronavirus woes across the world. Besides, the expectations concerning the announcement of the US fiscal package to support the virus-stricken economy boosted the precious metal’s appeal. Consequently, the bullion ended higher by 0.94% at the level of $1813.20 per ounce.

Going forward, the US would unveil its NFIB Small Business Index, JOLTS Job Openings and Mortgage Delinquencies data which would steer the gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/290706569138383

 

[Terry_8]

GOLD EXTENDS GAINS AMID HIGHER US FISCAL STIMULUS HOPES
XAUUSD extends its gains for the fourth consecutive trading session amid rising US fiscal stimulus hopes. The US President Joe Biden agreed for a proposal worth $1.9 trillion on Tuesday to aid the virus-battered economy. Besides, the mounting coronavirus cases globally above the mark of 107.4 million are also bolstering the precious metal’s appeal. As of now, gold is trading at the level of $1843.70 per ounce, with a gain of 0.32%.

Coming to the previous trading session, the bullion initially touched an intra-day high of 1848.19 level amid broad-based weakness in the greenback. Apart from that, the precious metal captivated safe-haven bids owing to rising Covid-19 infections across the world. However, gold pared some of its gains following the US JOLTS Job Openings report came at 6.65 million, defying the market expectations of 6.42 million. Consequently, the yellow metal ended higher by 0.40% at the level of $1837.80 an ounce.

Up ahead, investors will await for Federal Reserve Chairman Jerome Powell’s speech, US Core CPI and Final Wholesale Inventories data to decide the trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/291289585746748

 

[Terry_8]

XAUUSD SNAPS 4-DAYS WINNING STREAK AMID RISK-ON MOOD AMONGST THE INVESTORSXAUUSD snaps its four-days winning streak in the Asian trading hours on Thursday amid risk-on mood among the investors. Besides, developments on the vaccination front, with WHO expert panel recommending the wider usage of Astrazeneca vaccine is also fading the safe-haven appeal of gold. As of now, the bullion is trading at the level of $1837.23 per ounce, down by 0.30%.

Meanwhile, the investors remain vigilant over the announcement of the US fiscal package worth $1.9 trillion.

On Wednesday, the yellow metal initially touched an intra-day high of 1854.73 level on the back of downbeat US economic data. The core CPI data came at 0% against the market expectations of 0.2%. Apart from that, Fed Chairman Jerome Powell maintained an accommodative monetary policy stance and expressed his concerns about the dour state of unemployment existing in the economy. However, gold pared some of its gains following the optimism surrounding the rollout of Covid-19 vaccine globally. Consequently, the precious metal ended higher by 0.27% at the level of $1842.80 per ounce.

Going forward, investors will take cues from the US Unemployment Claims data to decide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/291884185687288

 

[Terry_8]

GOLD EXTENDS LOSSES AS GREENBACK EDGES HIGHERXAUUSD extends losses for the second straight session in the Asian trading hours on Friday amid gains in the greenback. Besides, the progress with respect to the roll-out of Covid-19 vaccine globally is also diminishing the appeal of safe-haven metal. As of now, the yellow metal is trading at the level of $1821.76 per ounce, down by 0.16%.

Meanwhile, investors remain watchful concerning the US Covid-19 relief bill worth $1.9 trillion package. The US President Joe Biden hinted at the execution of fiscal stimulus plans in the next few days without the Republican support.

On Thursday, the bullion encountered a sell-off and tested an intra-day low of 1820.73 level owing to optimism surrounding the vaccine developments. The headlines about the World Health Organization recommending a wider usage of Covid-19 shots made by AstraZeneca faded the safe-haven appeal of gold. However, gold pared some of its losses following the downbeat US economic data. The Unemployment Claims came at 793k, defying the market forecast of 755k. Consequently, the precious metal ended at the level of $1825.16 per ounce, representing a loss of 0.95%.

Looking ahead, the US would unveil its prelim UoM Consumer Sentiment, Inflation Expectations data and tentative Fed Monetary policy report which will steer the gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/292501538958886

 

[Terry_8]

XAUUSD FLASHES GREEN AMID EXPECTATIONS OF U.S. FISCAL STIMULUS

Gold snaps its two-day losing streak in the Asian trading hours on Monday amid rising US fiscal stimulus hopes. The US President Joe Biden moved ahead on Friday to execute the Covid-19 relief worth $1.9 trillion. Moreover, he demanded help from the bipartisan committee in the White House for early execution of the bill. As of now, the bullion is trading at the level of $1826.15 per ounce, with a gain of 0.14%.

On Friday, gold witnessed a volatile session. Initially, it touched an intra-day low of 1809.67 level on the back of developments on the vaccination front. The global rollout of Covid-19 vaccine created optimism regarding the faster economic recovery and faded the safe-haven appeal of the bullion.

However, the precious metal recovered a major chunk of its loss owing to higher US economic stimulus expectations. On the economic docket, the US Prelim UoM Consumer Sentiment data came at 76.2, against the market forecast of 80.8. Consequently, the dollar-denominated gold prices ended lower at $1823.90 an ounce, representing a marginal decline of 0.09%.

Going forward, the US calendar remains muted amid a bank holiday. Therefore, the coronavirus cases globally, vaccine developments and headlines about the US fiscal package would steer the gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/294374838771556​

 

[Terry_8]

GOLD: BULLS TAKE THE FRONT SEAT AS WEAKER DOLLAR LENDS SUPPORTXAUUSD snaps its three-day losing streak in the Asian trading hours on Tuesday amid weakness in the US dollar. Besides, the optimism surrounding the US Covid-19 relief bill worth $1.9 trillion is increasing the appeal of yellow metal, considered as an inflation hedge. As of now, the bullion is trading at the level of $1824.20 per ounce, representing a gain of 0.31%.

On Monday, the yellow metal encountered a sell-off owing to the optimism about the accelerating pace for rollout of Covid-19 vaccines globally. Further, the World Health Organisation approved AstraZeneca and Oxford University’s vaccine for emergency use, creating hopes for a faster economic recovery worldwide. Apart from that, the benchmark US treasury yields rose to its highest since March, that created a demand for the greenback. Consequently, the yellow metal ended lower by 0.27% at the level of $1818.42 an ounce.

Going forward, US Empire State Manufacturing Index report and FOMC Member Bowman’s speech will guide the future trajectory of gold prices. Further, investors remain vigilant over the headlines regarding the upcoming steps which will be taken by Biden’s administration to execute the economic stimulus.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/294982062044167

 

[Terry_8]

GOLD TRADES LOWER FOR THE FIFTH CONSECUTIVE TRADING SESSION AMIDST DOLLAR STRENGTH

After nosediving 1.34% in the previous trading session, XAUUSD extends losses in the Asian trading hours on Wednesday following the broad-based strength in the dollar. Besides, investors remain vigilant over the headlines regarding the upcoming steps which will be taken by Biden’s administration to execute the economic stimulus. As of now, the gold is trading 0.12% lower at the 1792.08 level, last seen on 4th Feb.

On Tuesday, the safe-haven metal came under intensive selling pressure due to the optimism surrounding the massive vaccine rollouts that underpinned the investors' risk sentiment. Also, the reports that WHO approved AstraZeneca and Oxford University’s vaccine for emergency use, raised the hopes for a faster economic recovery across the globe. In addition to this, the benchmark US Treasury yields rose to the multi-month high level that created a demand for the greenback.

On an economic docket, the release of the upbeat U.S. Empire State Manufacturing Index that arrived at 12.1, vs market forecast of 6.2, provided support to the dollar. Consequently, dollar-denominated gold prices ended the trading session at $1794.24 an ounce, with a depreciation of 1.34%.

Going forward, U.S. Core Retail Sales statistics and FOMC Meeting Minutes will guide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/295569398652100

 

[Terry_8]

GOLD SNAPS FIVE DAY LOSING STREAK AMIDST HOPES FOR US CORONAVIRUS RELIEF PACKAGE
After plunging to a multi-week low of 1769.39 level in the previous trading session, XAUUSD takes a breather in the Asian trading hours on Thursday. Besides, the demand for gold is underpinned due to the hopes surrounding the U.S. coronavirus relief package worth $1.9 trillion. The US President Joe Biden in an overnight meeting with top labor leaders stated that the stimulus package and the measures for the modernization of infrastructure would be able to provide millions of job opportunities to the Americans. As of now, the gold is trading at the 1783.20 level, up by 0.43%.

Talking about the previous trading session, the bullion plummeted to the lowest level since 1st December following the broad-based strength in the greenback. Further, the release of upbeat Core Retail Sales statistics that arrived at 5.9% better than the market anticipation of 1.1%, provided support to the dollar. Moreover, the demand for safe-haven metal was undermined due to the optimism surrounding the massive vaccine rollouts across the globe. Consequently, the currency pair ended the trading session at the 1775.40 level, with a depreciation of 1.01%.

Going forward, U.S. Philly Fed Manufacturing Index, and Unemployment Claims statistics will guide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/296175328591507

 

[Terry_8]

GOLD EXTENDS SELLING SPREE AMID RISING US TREASURY YIELDS

XAUUSD plunged to its multi-month low at 1758.86 level in the early Asian trading hours on Friday due to a rise in the US treasury yields. The benchmark interest rates are trading near its 1-year peak and increasing the opportunity cost of holding non-yielding bullion. As of now, the bullion is trading at the level of $1767.45 per ounce, representing a loss of 0.43%.

Meanwhile, investors remain watchful over the news about the execution of US Covid-19 bill worth $1.9 trillion to aid the virus battered economy.

On Thursday, the precious metal witnessed a volatile session as initially, it touched the high of 1788.85 level owing to the higher US fiscal stimulus hopes. On the economic docket, the unemployment claims came at 861k, defying the market forecast of 775k which undermined the demand for the greenback. However, gold pared all its gains in the backdrop of optimism surrounding the rollout of Covid-19 vaccines across the world. Consequently, the dollar-denominated gold prices ended marginally lower by 0.01% at the level of $1775.10 per ounce.

Going forward, the US would unveil its Flash Manufacturing and Services PMI data, Existing Home Sales and Tentative Fed Monetary Policy Report which would steer the gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/296864701855903

 

[Terry_8]

BULLION EXTENDS ITS GAINS AS GREENBACK EASES FURTHER

XAUUSD extends its gains in the Asian trading hours on Monday owing to decreasing demand for the greenback. Besides, the higher expectations concerning the US fiscal stimulus worth $1.9 trillion is increasing the appeal of the yellow metal. The US House of Representatives unveiled its plans in the White House on Friday to pass the Covid-19 relief bill in the next few days.

As of now, the yellow metal is trading at the level of $1783.98 an ounce, with a marginal gain of 0.02%.

Coming to the previous trading session, the precious metal initially touched an intra-day low of 1760.97 level due to the higher 10-year US treasury yields. The benchmark interest rate settled at 1.34%, nearly its 1-year peak and increased the opportunity cost of holding non-yielding bullion. However, gold managed to recoup all its losses as the Federal Reserve expressed concerns regarding the economic recovery and the risks of ongoing business failure in the United States emerging from the coronavirus pandemic. Consequently, the yellow metal encountered safe-haven demand and ended at $1783.50 per ounce, up by 0.47%.

Going forward, investors will take cues from the US CB Leading index and headlines about the economic stimulus to decide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/298596825016024?__tn__=%2CO*F

 

[Terry_8]

GOLD GAINS AS FED REMAINS COMMITTED TO ACCOMMODATIVE MONETARY POLICY
Gold inches higher in the Asian trading hours on Wednesday amid accommodative monetary policy stance adopted by the Federal Reserve bank. The Fed chairman Jerome Powell yesterday signaled at maintaining the bond-buying program and cold-shouldered inflation risks that could arise due to liberal money printing. In addition to this, the Fed has committed to keeping interest rates at low levels. Besides, the easing in the greenback is also rendering support to the yellow metal. As of now, the bullion is trading at the level of $1808.28 per ounce, up by 0.16%.

Meanwhile, investors remain vigilant concerning the announcement of the US Covid-19 relief bill worth $1.9 trillion to aid the economic recovery.

On Tuesday, the precious metal encountered a volatile session as it initially touched the intra-day high of 1815.97 level amid rising US fiscal stimulus hopes. However, the bullion pared all its gains owing to the strength in the greenback. On the economic docket, the CB Consumer Confidence came better than the expectations and was reported at 91.3, defying the market forecast of 90.2. Consequently, the dollar-denominated gold prices ended the day lower by 0.19% at the level of $1805.20 an ounce.

Going forward, the Fed Chair Powell testimony, US New Home Sales report and the FOMC member Brainard’s speech would guide the future trajectory of gold prices.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/299819861560387

 

[Terry_8]

GOLD EXTENDS LOSSES AMID OPTIMISM SURROUNDING COVID-19 VACCINE


Gold extends its selling spree for the third consecutive day in the Asian trading hours on Thursday owing to optimism about the developments on the vaccinations front. The headlines regarding the efficacy of the Pfizer/BioNTech vaccine being found at preventing Covid-19 in the first big real-world study is diminishing the safe-haven appeal of the yellow metal. As of now, the bullion is trading at the level of $1798.66 per ounce, representing a decline of 0.32%.

Meanwhile, investors remain watchful concerning the execution of the US fiscal stimulus worth $1.9 trillion to aid the virus battered economy.
On Wednesday, the precious metal encountered a choppy ride as it initially tested the intra-day high of 1813.55 level due to the accommodative monetary policy stance of the Fed. However, gold pared all its gains following the upbeat US macro-economic data. The New Home Sales report came better than the expectations at 923k, against the market forecast of 853k after which the bullion tested the intra-day low of 1782.90 level. At the end of the day, the dollar-denominated gold prices finished marginally lower by 0.03% at the level of $1804.50 per ounce.

Going forward, the US would unveil its Prelim GDP q/q report, Durable Goods orders m/m and Unemployment Claims data that would render fresh trading impetus. Besides, the FOMC member’s Quarles and Bostic speech would also remain a key monitorable.

SOURCE FXVIEW FB: www.facebook.com/fxviewdotcom/posts/300440731498300