Weekly forex forecast: EUR/USD, XAU/USD, GBP/USD, USD/JPY, Bitcoin and more [Video]
Gold managed to fell below the support of 4440 last Friday on US labour data. As we see over the chart, the Intraday levels show resistance at the 4440-60 zone, where as long as the market hold below it, the drop pressure could sustain with supports at 4365 and 4280.
Gold bears retain control as Fed hike bets and Oil-driven inflation weigh
Gold price declines as strong US jobs data boosts Fed rate hike bets
Gold prices edged lower in early London trade after prices fell on Friday to ensure of a second weekly close in the negative territory. While I don't necessarily expect to see any major fireworks today given the fact the US is out on holiday, it is worth mentioning that thinner conditions could amply moves if we see the break of some key levels.
TL;DR: Friday's US CPI can push Gold toward either edge of its 4,230–4,697 range, but the Fed's expected rate peak, oil's physical normalization, and the Dollar debasement trade are all bigger stories than one inflation print — and only those can actually break the range.
Gold and silver face renewed pressure after strong U.S. jobs data revive Fed hike bets, with CPI and PPI becoming the next major catalysts.
South Africa Net $Gold & Forex Reserve climbed from previous $71.761B to $73.686B in August
South Africa Gross $Gold & Forex Reserve up to $75.954B in August from previous $73.451B
South Africa Gross $Gold & Forex Reserve : $758.954B (August) vs $73.451B
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data