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According to the latest analyst opinion from Economies.com on September 15th, spot gold prices retreated during the previous trading day and are currently trying to gain new upward momentum to support a rebound and resume their upward trend. Meanwhile, spot gold is also struggling to digest the significant overbought conditions on the Relative Strength Index (RSI), especially when the indicator shows negative signals, which has put further downward pressure on previous trading.According to Economies.coms analysts latest view on September 15th, WTI crude oil futures prices rose in the previous trading day, rebounding to touch the EMA50 moving average and testing the key resistance level of $62.85. In the short term, the primary bearish trend remains dominant, and prices continue to run along the bearish trend line, showing strong negative momentum.According to Economies.coms analysts latest analysis from September 15th, Brent crude oil futures prices rose during the previous trading day, buoyed by negative pressure from the 50-day moving average (EMA). This breakout fueled a temporary rebound. However, in the short term, prices remain under the dominant bearish trend and are oscillating along the trendline. Meanwhile, the RSI indicator has shown a negative signal, indicating a negative divergence due to the divergence between the price highs and the RSI highs.Network status monitoring website DownDetector: User reports show that 25,556 users in the United States encountered problems when using Starlink.According to the Financial Times: SEC Chairman Atkins, appointed by Trump this year, has pledged to issue technical violation notices to companies before aggressively "breaking down their doors." Atkins pointed out, "You cant just suddenly knock down their door and say, We caught you, youre doing something, and this is a technical violation."

Forecast for Gold Price: XAU/USD sellers near $1,955 confluence as yields recover amid banking and growth concerns

Alina Haynes

Mar 27, 2023 14:38

 截屏2022-06-07 下午5.15.32.png

 

Gold price (XAU/USD) falls $1,970 over the course of a two-day losing trend preceding Monday's European session. In doing so, the precious metal justifies the most recent revival in US Treasury bond yields and the US Dollar, while extending yesterday's U-turn from the key resistance zone.

 

As First Citizens bank agrees to purchase a sizable portion of Silicon Valley Bank, dwindling banking jitters may also be a factor. (SVB). In recent days, the XAU/USD has been weighed down by hawkish Fed comments, the pace of China's growth, one of the world's largest Gold consumers, as well as primarily US data.

 

Kristalina Georgieva, the head of the International Monetary Fund (IMF), cautioned that "risks to financial stability have increased," prompting an investigation into Gold sellers. On the same vein, Minneapolis Fed President Neel Kashkari voiced concerns about an impending US recession.

 

US Dollar Index (DXY) prints a three-day uptrend near 103.12 as traders prepare for important inflation data on Friday, specifically the US Core Personal Consumption Expenditure (PCE) Price Index for February.

 

In spite of this, 10-year US Treasury bond yields increased by two basis points to 3.40 percent, while their two-year counterpart ended a three-day losing trend close to 3.85 percent as of press time.

 

Moving forward, the Gold price remains on the bears' radar due to the failure of traders to overcome the critical resistance and the month-end consolidation. However, Friday's release of the Fed's favored inflation gauge becomes crucial for XAU/USD traders seeking direction.


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