Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold sticks to negative bias amid rising rate hike bets, firmer US Dollar
Gold under pressure as fears mount, $4,600 support at risk
Gold prices have steadied after a sharp correction, but UBS economists expect near-term headwinds to limit gains before a stronger rally later in the cycle. The metal is trading around $4,671, having stabilised following a volatile March sell-off that reset positioning and cooled investor demand.
Gold prices climbed around 4% over the week, despite falling roughly 1.7% on Friday. The metal rose along with global indices on the week, even as oil prices continued to climb into the long weekend.
United States CFTC Gold NC Net Positions down to $163.2K from previous $168.3K
Gold has a positive week as we try to turn things around again. The 10-year yield continues to be my guide.
The gold market has been noisy as of late, and I don't see that changing anytime soon.
The Middle East conflict is weighing on gold prices amid expectations that central banks will raise interest rates to address rising inflation driven by oil prices. This seems like a knee-jerk reaction, as this is precisely how central banks acted in 2022.
Gold Price Forecast: XAU/USD bears remain capped above the $4,600 area