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Gold keeps firm tone and trading near new two-month high at the start of the week, after rallying 2% on Friday, in the biggest daily advance since Dec 13. The yellow metal surged after markets got a clearer picture about the US rate outlook, as the latest economic data added to growing expectations that the […]

The post XAU/USD: Gold Rises Further After Rallying 2% on Friday appeared first on Action Forex.

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06/06/2024

Gold Prices Reach 2368 USD Amid Speculation of Fed Rate Cuts

Gold prices climbed to 2368 USD per troy ounce on Thursday, continuing the upward momentum for the second session. This surge comes as market expectations adjust to the likelihood of future interest rate cuts by the Federal Reserve, fuelled by recent employment data. Data from ADP indicated that the number of private-sector jobs in the […]
26/03/2024

XAU/USD: Gold Retests $2200 Barrier on Renewed Safe-haven Demand

Gold price jumped on Tuesday and retested psychological $2200 barrier, inflated by weaker dollar on improved sentiment about Fed rate cuts and persisting geopolitical risks. Market awaits release of US inflation data, due later this week, which could bring fresh hints about timing of the start of rate cuts. Fresh strength attacks the ceiling of […]
25/06/2024

Elliott Wave Analysis on Silver (XAGUSD) Expects Further Correction Lower

Short Term Elliott Wave in XAGUSD (Silver) suggests cycle from 5.20.2024 high remains in progress as a double three structure. Down from 5.20.2024 high, wave ((a)) ended at 30.03 and wave ((b)) rally ended at 32.29. Wave ((c)) lower ended at 29.36 which completed wave W. Rally in wave X has ended at 31.53 as […]