Gold (XAU/USD) extends its recovery on Wednesday after falling to four-month lows earlier this week, as early buyers step in following a sharp selloff.
Gold price (XAU/USD) gains nearly 2% on Wednesday as Oil futures prices tumbled amid growing speculation that the US and Iran would begin talks to end the conflict that started nearly four weeks ago. At the time of writing, XAU/USD trades at $4,556.
ING strategists Ewa Manthey and Warren Patterson report Gold has extended gains above $4,600 as it rebounds from a nine‑day losing streak.
Gold (XAU/USD) retains positive bias through the first half of the European session, though it remains below the weekly high, around the $4,600 mark set earlier this Wednesday.
Gold (XAU/USD) reverses a modest intraday dip and trades just above the $5,000 psychological mark during the first half of the European session on Wednesday.
ING commodities strategists Warren Patterson and Ewa Manthey report that Gold is trading in a narrow range as the US‑Israeli conflict with Iran extends. A firmer Dollar and higher real yields offset safe‑haven demand from Middle East tensions.
Gold prices fell in India on Wednesday, according to data compiled by FXStreet.
Gold price (XAU/USD) trades on a flat note near the $5,000 psychological level during the early Asian session on Wednesday. Traders are cautious ahead of the US Federal Reserve (Fed) interest rate decision.
Gold price consolidates on Tuesday during the North American session around the $5,000 level, down 0.11% amid broad US Dollar weakness and falling US Treasury yields.
TD Securities’ Senior Commodity Strategist Daniel Ghali warns Gold is increasingly exposed as US 2-year yields break their downtrend and the macro backdrop shifts.
Gold (XAU/USD) trades in a tight range on Tuesday as traders remain cautious and avoid large directional bets ahead of a heavy week of monetary policy announcements from major central banks.
