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Gold insights nuggets

Gold and Tech Stocks Sell Off on U.S 10-Year Treasury Yields Rising Above 1.5%

Gold prices have declined since last week Thursday, due to U.S government bond yields and the U.S Dollar rising in tandem on Fed rate hike prospects. Gold dropped $54 the past week to the $1,730 area, or the lowest level since June, 2020. The 10-year Treasury yield rose above 1.5% while shorter-dated rates surged toward …

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Gold Recovers from Post-Fed Pullback as U.S Central Bank Keeps Tapering Options Open

The Federal Reserve signaled it could start scaling back asset purchases this year, but left the door open to extend stimulus if the economy needs it – keeping its options relatively open for extending ‘emergency covid funding’ money printing measures.   More importantly, the Fed highlighted that interest rates aren’t going to liftoff from zero …

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Gold Doing Its Job- Climbs as Equity Markets Take Hit on Evergrande Spillover Concerns

Gold prices rose more than 1% ($22) during Monday trade, as global equity markets sold off on concerns of an overdue correction – the Nasdaq 100 and the S&P 500 fell 3.4% and 2.75%, respectively. Markets were spooked by S&P ratings downgrading Chinese real estate giant Evergrande Group’s $300 billion of debt, and for taking …

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Gold Subdued Between Averages, Awaiting U.S Inflation Data

Gold prices continue to trade sideways at the start of the new week, as the safe haven remains range-bound ahead of key U.S economic data this week: CPI inflation data will be released on Tuesday, and retail sales on Thursday. Gold prices have traded between $1,786 and $1,798/oz this week – remaining below resistance seen …

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Gold Slips Under $1,800 and Back Up Again as Europe’s Lagarde ‘Isn’t Tapering’

Gold dropped from recent highs ($1,830) to below $1,800 during this week, and back up again to $1,800 on Thursday.   The two-step move came about firstly as the U.S Dollar strengthened – the DXY Dollar Index jumping almost 1% since Tuesday – applying downward pressure on the gold price, which is priced in USD. …

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Gold Jumps, Bumping Up Against Key Resistance on Tepid U.S Employment Results

As per our view in last week’s Nugget commentary, the gold price was awaiting U.S employment data to find direction – after having traded in a stable range between $1,805 and $1,820/oz. The reason for this was the U.S Fed stating that their policy changes would be dictated mostly by U.S employment data: tapering their …

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Gold Price Meanders in Range as Markets Await U.S Employment Data

As per our view in this week’s previous Nugget commentary, the gold price has remained range-bound between $1,805 and $1,825 as markets await U.S employment data out this Friday.  The reason for this is that the U.S Fed stated last week that their policy changes would be dictated mostly by the employment data from the …

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Gold Range-Bound Above $1,800 as Markets Seek Clarity on Fed’s Next Move

Gold jumped $35 on Friday last week, reaching $1,823/oz, on the back of the Fed Chairman’s statement that interest rate hikes were not imminent – and that there was ‘much ground to cover’ before their employment targets are met. During last Friday’s Jackson Hole Symposium speech, Fed Chair Jerome Powell said that the American central …

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Gold Prices Increased on Dovish Fed as Monetary Policy Remains Unchanged

29 July 2021 Gold Prices Increases on Dovish Fed as Monetary Policy Remains Unchanged Gold prices increased 1.56% ($28/oz) to a one-week high of $1,817/oz, as markets respond to a dovish Fed response to monetary policy. U.S Treasury yields dropped 5.2% from a one-week high on Monday. Lower yields reduce the opportunity cost of holding …

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