Gold price (XAU/USD) dived to a near seven-month low on Tuesday and recorded losses for the seventh straight day – its longest losing streak since Aug
Gold price remains on the defensive and well within the striking distance of a near seven-month trough.
The recent comments by several Fed officials also backed the case for at least one more 25 basis points lift-off by the end of this year to bring inflation back to the 2% target. Republican Kevin McCarthy, who navigated legislation to keep the government running until November 17, becomes the first US House speaker to be removed from his job.
The US economic docket also features the ISM Service PMI, which is anticipated to ease from 54.5 to 53.6 in September and should provide some impetus to the XAU/USD.The Relative Strength Index on the daily chart is flashing extremely oversold conditions and makes it prudent to wait for some near-term consolidation or a modest bounce before positioning for a further depreciating move.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
ISM Services PMI Preview: Downside surprise could trigger US Dollar buying opportunityWhat goes up must come down – that adage has been relevant to the ISM Services Purchasing Managers' Index (PMI) in the past six months, with data zigz
Les mer »
USD/MXN gains traction above 18.00 amid USD demand, eyes on US ADP, Services PMI dataThe US Dollar (USD) gains traction against the Mexican Peso (MXN) during the early Asian trading hours on Wednesday. The uptick of the pair is bolster
Les mer »
Gold Price Analysis: XAU/USD set to challenge $1,800 as investors sour on GoldThe XAU/USD is down $20 per ounce for Monday, declining to $1,830.00 on the charts as Gold continues its decline. Gold spot prices are set to close in
Les mer »
Singapore awards major payment institution license to Sygnum Bank subsidiaryThe MPI license enables Sygnum Singapore to extend its services offering to offer DPT trading services.
Les mer »
U.S. manufacturers show improvement, ISM finds, but still face tough timesA barometer of business conditions at American factories contracted in September for the 11th month in a row, but there were signs of improvement and some...
Les mer »
U.S. manufacturers show signs of revival, ISM finds, but still face tough timesThere were signs of improvement and some companies even increased employment.
Les mer »