XAUUSD REPORT (FXVIEW)

[Terry_8]

GOLD SNAPS 3-DAY LOSING STREAK AMID RISK-OFF MOOD AMONGST THE INVESTORS
Gold inches higher in the Asian trading hours on Friday amid risk-off amongst the equity investors. Besides, the optimism surrounding the rollout of Covid-19 vaccines globally is also diminishing the safe-haven appeal of the yellow metal. As of now, the bullion is trading at the level of $1773.24 per ounce, representing a gain of 0.21%.

Coming to the previous trading session, the precious metal encountered massive selling on the back of developments on the vaccinations front. The news about the Pfizer/BioNTech vaccine shots performing well in the real-world as it did in the clinical trials dented the demand for gold. On an economic docket, the US Unemployment Claims data that arrived at 730k, better than the market expectations of 828k weighed over the yellow metal. Consequently, the bullion ended the day at $1769.40 per ounce, down by 1.94%.

Going forward, the US would unveil its Core PCE Price Index m/m, Personal Income and Spending m/m, Chicago PMI and Revised UoM Consumer Sentiment statistics that would steer the gold prices.

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[Terry_8]

GOLD SNAPS 4-DAY LOSING STREAK AMID RISING US FISCAL STIMULUS HOPES

Gold inches higher in the Asian trading hours on Monday amid rising expectations regarding the US fiscal stimulus. The US House of Representatives gave its nod to the Covid-19 relief bill worth $1.9 trillion on Saturday. As of now, the precious metal is trading at the level of $1750.59 an ounce, representing a gain of 1.04%.

Meanwhile, investors remain vigilant over the execution of the US fiscal package as it could face headwinds from Republicans in the Senate house.

Coming to the previous trading session, the yellow metal encountered a sell-off owing to the broad- based strength in the greenback. On an economic docket, the core PCE Price index was reported at 0.3%, defying the market forecast of 0.1% while the Personal Income data came at 10% against the expectations of 9.4%. Besides, the optimism surrounding the rollout of Covid-19 vaccines globally also faded the safe-haven appeal of the yellow metal. Consequently, the bullion ended the day lower by 2.08% at the level of $1732.50 per ounce, which was last seen in June 2020.

Going forward, FOMC members Williams and Brainard speech, US ISM Manufacturing PMI, Construction Spending m/m and ISM Manufacturing Prices data would steer the gold prices.

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[Terry_8]

GOLD FALTERS FURTHER AMID STRENGTHENING GREENBACK



Gold extends losses for the sixth straight session in the Asian trading hours on Tuesday owing to the broad-based strength in the greenback. Besides, the optimism surrounding the rollout of the Covid-19 vaccine globally is suggesting a faster economic recovery hopes, thus fading the safe-haven appeal of the yellow metal. As of now, the bullion is trading at the level of $1712.99 per ounce, down by 0.64%.

Meanwhile, investors are awaiting the decision of the US senate about the passage of the Covid-19 relief bill worth $1.9 trillion.
On Monday, the yellow metal initially touched an intra-day high of 1760.50 level amid higher expectations regarding the execution of the US fiscal stimulus. The US House of Representatives gave a green signal to pass the economic stimulus. However, gold pared all its gains on the back of optimistic US macro-economic data. The ISM Manufacturing PMI came better than the expectations at 60.8, defying the market forecast of 58.7. Apart from that, the increase in demand for the US dollar also affected the demand for bullion.

Consequently, the dollar-denominated gold prices ended the day lower by 0.48% at the level of $1724.10 per ounce, which was last seen in June 2020.
Going forward, the US tentative IBD/TIPP Economic Optimism, Wards Total Vehicle Sales statistics and FOMC Member Brainard Speech will decide the future trajectory of gold prices.

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[Terry_8]

GOLD REMAINS DEFENSIVE AMID GLOBAL RECOVERY HOPES



The precious metal edges lower in Asian trading hours on the back of the buoyant market mood. Investors remain hopeful for the V-shaped economic recovery which caps the upside in the bullion. In addition to this, firm US Treasury Yields also sidelines the demand for the non-yielding metal. Currently, gold is trading at $1734.70 per ounce, down by 0.21%.
Meanwhile, investors closely follow the developments in US stimulus worth $1.9 trillion, as it reaches the Senate for discussion this week.

Talking about the previous session, initially, the yellow metal slipped to multi months low level of $1707 per ounce. The optimism surrounding the rollout of the COVID-19 vaccine dented the safe-haven appeal of the bullion. However, gold staged a modest rebound in the American trading hours amid broad-based weakness in the greenback, which helped the dollar-denominated gold prices. Consequently, gold ended the day higher by 0.78% at the level of $1724.10 per ounce.

For the day ahead, investors must focus on US ADP Non-Farm Employment Change, ISM Services PMI, and Final Services PMI data to ascertain the further direction of the pair.

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[Terry_8]

GOLD TICKS HIGHER AHEAD OF US FISCAL STIMULUS TALKS


After encountering a plunge to the multi-month low level of 1701.07 on Wednesday, gold trades higher on the back of higher US fiscal stimulus hopes. The US Senate is expected to resume talks on the Covid-19 relief bill worth $1.9 trillion from today onwards. As of now, the precious metal is trading at the level of $1714.79 per ounce, up by 0.26%.

Meanwhile, investors remain watchful for Fed Chair Powell Speech to take clues on the outlook of the US central bank’s monetary policy.
Coming to the previous trading session, the bullion witnessed sell-off on the back of broad-based strength in the greenback owing to firmness in the long term US Treasury yields. On an economic docket, the US Final Services PMI data came better than the expectations at 59.8, against the market forecast of 58.9 which supported the greenback. Consequently, the yellow metal settled lower by 1.5% at the level of $1710.26 an ounce, a level last seen in June.

Up ahead, the US would publish its Revised Nonfarm Productivity q/q, Unit Labor Costs q/q, Unemployment Claims and Factory orders m/m statistics which would steer the gold prices.

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[Terry_8]

GOLD FALTERS FURTHER AMID STRENGTH IN US TREASURY YIELDS


Gold extends its fall for the third consecutive trading session on Friday due to the strength in the
greenback which is hovering at a multi-month high level. Besides, The resurgence in US Treasury Yields to more than one year high is escalating the opportunity cost of holding non-yielding bullion.

As of now, the bullion is trading at the level of $1694.19 per ounce, down by 0.15%.
Meanwhile, investors remain watchful over the developments on the US Covid-19 relief bill worth $1.9 trillion which is yet to pass the test in the Senate house.

Coming to the previous trading session, the yellow metal initially touched an intra-day high of 1723.09 level in the backdrop of higher US fiscal stimulus hopes. However, gold pared all its gains and tested an intra-day low of 1689.12 level owing to the broad-based strength in the greenback. On an economic docket, the US unemployment claims data was published at 745k, better than the expectations of 758k. Consequently, the dollar-denominated gold prices settled lower by 0.78% at the level of $1696.82 per ounce, last seen in June.
Going forward, the US would unveil its Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate and Trade Balance statistics which would steer the gold prices.
Risk Disclaimer: The vast majority of retail client accounts lose money when trading in CFDs.

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[Terry_8]

GOLD EXTENDS ITS GAINS FOLLOWING THE APPROVAL OF US FISCAL STIMULUS IN SENATE



Gold gave a gap up opening in the early Asian trading hours on Monday in the backdrop of optimism surrounding the approval of the US Covid-19 relief bill worth $1.9 trillion. The US Senate finally gave a nod to the economic stimulus on Saturday, which is boosting the appeal of the yellow metal as an inflation hedge. As of now, the bullion is trading at the level of $1704.71 per ounce, representing a gain of 0.34%.

On Friday, the precious metal witnessed a volatile session as initially, it touched an intra-day low of 1686.32 level owing to the broad-based strength in the greenback. On an economic docket, the US Non-Farm Employment Change came at 379k, defying the market forecast of 197k while the Unemployment rate was reported at 6.2%, against the expectations of 6.3%. However, gold managed to recoup all its losses on the back of higher US fiscal stimulus hopes. Besides, the fall in US Treasury Yields also rendered support to the bullion. Consequently, the bullion tested an intra-day high of 1707.02 level to end higher by 0.11% at the level of $1696.82 per ounce.

Going forward, the US would unveil its Final Wholesale Inventories m/m data which would guide the future trajectory of gold prices.

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[Terry_8]

GOLD INCHES HIGHER FOLLOWING FED’s ANNOUNCEMENT TO EXTEND ITS LIQUIDITY PROGRAM


Gold flashes green in the Asian trading hours on Tuesday following the Federal Reserve announcement to extend its emergency liquidity facility by three months to June 30. Besides, the pull back in long term US Treasury Yields is also increasing the safe-haven appeal of the bullion. As of this moment, the yellow metal is trading at the level of $1689.47 an ounce, with a gain of 0.37%.

Meanwhile, investors will remain watchful about the execution of the US Covid-19 relief bill worth $1.9 trillion. The US House of Representatives will decide over the Senate version of the fiscal package on Wednesday.

On Monday, the bullion initially touched an intra-day high of 1713.48 level owing to the optimism surrounding the approval of the US fiscal stimulus in the Senate. However, gold pared all its gains due to the broad-based strength in the greenback.

On an economic docket, the US Final Wholesale Inventories m/m data came in line with the expectations at 1.3%. Consequently, the dollar-denominated gold ended the day at $1683.20 an ounce, with a depreciation of 0.91%.

Going forward, investors will take cues from the US NFIB Small Business Index report which would steer the gold prices.

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[Terry_8]

GOLD EDGES LOWER AMIDST FIRMNESS IN US TREASURY YIELDS

Gold flashes red in the Asian trading hours on Wednesday in the backdrop of rising long term US treasury yields. The higher benchmark interest rates remain supportive for USD against the non-yielding bullion. As of now, XAUUSD is trading at the level of $1712.96 per ounce, with a depreciation of 0.15%.

Meanwhile, investors would remain watchful over the final vote on US fiscal stimulus worth $1.9 trillion.

Coming to the previous trading session, the precious metal witnessed massive buying owing to the optimism surrounding the US Covid-19 relief bill. The US House of Representatives gave a nod to advance President Joe Biden’s economic stimulus on Tuesday. Besides, the broad-based weakness in the greenback also escalated the demand for the yellow metal. On an economic docket, the US NFIB Small Business Index was reported at 95.8, against the expectations of 96.7. Consequently, gold prices ended the day at the level of $1715.70 an ounce, representing a gain of 1.93%.

Going forward, the US would publish its CPI m/m and Core CPI m/m statistics that would steer the prices of gold.​

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[Terry_8]

GOLD EXTENDS GAINS FOLLOWING FINAL APPROVAL ON US FISCAL STIMULUS

Gold extends its gains for the third consecutive session in the Asian trading hours on Thursday after the final nod given to the US fiscal stimulus worth $1.9 trillion. The US House Of Representatives gave its approval to advance the US President’s Joe Biden Covid-19 relief bill on Wednesday to aid the virus battered economy. As of now, the bullion is trading at the level of $1731.34 an ounce, with a gain of 0.30%.

Talking about the previous trading session, the yellow metal encountered buying in the backdrop of broad-based weakness in the greenback. On an economic docket, the CPI m/m data came in line with the expectations at 0.4% while the Core CPI m/m was reported at 0.1%, defying the market forecast of 0.2%. Besides, the expectations regarding the US economic stimulus also escalated the appeal of gold as an inflation hedge. Consequently, the precious metal ended the day at the level of $1726.10 per ounce, representing an appreciation of 0.60%.

Going forward, investors would take clues from US Unemployment Claims and JOLTS Job Openings data for further trading impetus.​

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[Terry_8]

GOLD EXTENDS LOSSES AS STRENGTH IN GREENBACK FADES YELLOW METAL’S APPEAL

Gold extends its losses in the Asian trading hours on Friday amidst broad-based strength in the greenback. Besides, the higher long term US treasury yields are also increasing the opportunity cost of holding non-yielding bullion. As of now, the yellow metal is trading at the level of $1719.27 per ounce, representing a depreciation of 0.17%.

On Thursday, the bullion witnessed a volatile as initially it tested an intra-day high of 1739.65 level owing to the optimism surrounding the final approval of the US fiscal stimulus. The US President Joe Biden signed the Covid-19 relief bill worth $1.9 trillion which escalated the demand for gold as an inflation hedge. However, the precious metal pared all its gains following the release of optimistic US macro-economic data. The Unemployment Claims were reported at 712k, defying the market forecast of 730k while the JOLTS Job Openings Data came at 6.92M against the expectations of 6.65M.

Consequently, the dollar-denominated gold prices ended the day at $1722.10 an ounce, down by 0.22%.

Going forward, the US would unveil its Core PPI m/m, PPI m/m, Prelim UoM Consumer Sentiment and Inflation Expectations data which would decide the future trajectory of gold prices.​

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[Terry_8]

GOLD EXTENDS GAINS AS US FISCAL STIMULUS INCREASES INFLATION CONCERNS

Gold flashes green in the early Asian trading hours on Monday amidst optimism surrounding the final approval of US fiscal stimulus worth $1.9 trillion. Investors are flocking towards the yellow metal to hedge their risks against inflation. As of this moment, the bullion is trading at the level of $1727.75 per ounce, marginally higher by 0.04%.

Talking about the previous trading session, the precious metal initially tested an intra-day low of 1698.51 level owing to the broad-based strength in the greenback. On an economic docket, the US PPI m/m came at 0.5%, against the market forecast of 0.4% while the Prelim UoM Consumer Sentiment was reported at 83, defying the expectations of 78.4. However, gold managed to recoup all its losses due to the upbeat sentiments about the US Covid-19 relief bill signed by President Joe Biden. Consequently, the yellow metal ended the day at $1726.96 per ounce, with a gain of 0.27%.

Going forward, the US would unveil its Empire State Manufacturing Index which would steer the gold prices.

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[Terry_8]

GOLD EXTENDS GAINS AMIDST WEAKNESS IN US TREASURY YIELDS

Gold trades higher for the third consecutive session in the Asian trading hours on Tuesday amidst weakness in the long-term US benchmark interest rates. Meanwhile, investors remain vigilant over the outcome of the US Federal Reserve policy meeting. As of now, the bullion is trading at the level of $1733.86 an ounce, representing a gain of 0.15%.

Coming to the previous trading session, the precious metal initially tested an intra-day low of 1721.14 level owing to the broad-based strength in the greenback. On an economic docket, the US Empire State Manufacturing Index came at 17.4, defying the market forecast of 14.6. However, gold managed to recoup all its losses in the backdrop of optimism surrounding the US fiscal stimulus worth $1.9 trillion. The inflation concerns due to the US Covid-19 relief bill created buying in the bullion. Consequently, gold ended higher by 0.24% at the level of $1731.20 an ounce.

Going forward, the US would publish its Retail Sales m/m, Import Prices m/m and NAHB Housing Market Index report which would decide the future trajectory of gold prices.

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[Terry_8]

GOLD EDGES HIGHER AHEAD OF US FEDERAL RESERVE’s MEETING OUTCOME

Gold ticks higher in the Asian trading hours on Wednesday as investors refrain from placing aggressive bets in the greenback ahead of the US Central Bank’s economic projections. Market participants awaits the Federal Reserve’s actions to control the rising US treasury yields. As of now, the bullion is trading at the level of $1735.72 per ounce, representing a gain of 0.25%.

Coming to the previous trading session, initially, gold touched an intra-day low of $1740.81 level amidst the risk-on mood amongst the equity investors. However, the bullion recouped all its losses on the back of pessimistic US macro-economic data. The Core Retail Sales m/m data was reported at -2.7%, against the expectations of 0.2% while, the Capacity Utilization rate came at 73.8%, defying the market forecast of 75.8%. Consequently, the dollar-denominated gold prices touched an intra-day high of $1740.81 level and ended flat at $1731.32 per ounce.

Going forward, investors will take clues from the US Building Permits and Housing Starts data, FOMC Economic Projections and Statement for further trading impetus.

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[Terry_8]

XAUUSD TRADES HIGHER AMIDST FRESH PULLBACK IN US 10YR BOND YIELDS



XAUUSD edges higher in the Asian trading hours on Friday amid a fresh pullback in US 10YR bond yields, which is driving investors towards the riskier assets. In addition to this, market participants remain concern over the spread of new wave of COVID-19 infections in Europe, which can lead to re-imposition of lockdowns in the region. As of now, gold is trading 0.33% higher at 1740.54 level.

Talking about the previous trading session, yellow metal ended lower with losses of 0.51% to settle at $1735.98 per ounce following the broad-based strength in the greenback. This was after Fed presented an upbeat outlook on the US economic growth, which underpinned the demand of greenback. In addition to this, the release of upbeat U.S. Philly Fed Manufacturing Index statistics that came at 51.8, better than the market anticipation of 22.5, further attracted bids for the dollar.

Going forward, macro- economic calendar from the American economy remains muted for the day, thus,investors will watch corona virus headlines for further trading impetus.

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