XAUUSD REPORT (FXVIEW)

[Terry_8]

XAUUSD BULLS EMBOLDEN AS DOLLAR SLUMPS TO MULTI-YEAR LOW LEVEL



XAUUSD surges in the Asian trading hours on Wednesday amidst a decline in the greenback to the multi-year low level. Besides, the demand for the safe-haven metal improves after the US reported the first case of the COVID-19 variant that was originated from the Britain. As of now, the bullion is trading 0.35% higher at 1884.45.
Talking about the previous trading session, gold surged to an intraday high of 1886.45 due to an increase in the prospects of an additional US stimulus package. US lawmakers agreed to increase the amount of stimulus checks from $600 to $2000. Additionally, broad-based weakness in the greenback supported the demand for the bullion.
However, in the late North American session, gold pared some of the gains and ended the session at 1877.80, with an appreciation of 0.25%.
Going forward, investors will wait for US Goods Trade Balance, Prelim Wholesale Inventories, Chicago PMI, and Pending Home Sales to determine the further direction of the gold.

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[Terry_8]

GOLD SNAPS TWO-DAY WINNING STREAK AMIDST POSITIVE EQUITY MARKETS



The demand for safe-haven metal declines on Thursday tracking the upbeat equity markets amidst optimism surrounding the coronavirus vaccine. AstraZeneca’s vaccine got approval for emergency usage in the UK. As of now, the bullion is trading 0.21% lower at the 1889.90 level.
Talking about the previous trading session, gold surged to an intraday high of 1894.20 level following the broad-based weakness in the greenback. In addition to this, investors’ appetite for risk declined after the US reported the first case with a new COVID-19 variant that was originated from Britain.
On an economic note, the release of downbeat US Good Trade Balance and Pending Home Sales data which came less than estimated at -84.8B and -2.6% respectively, undermined the demand for the greenback. Thus, the dollar-denominated gold price ended the trading session at 1893.90 level, with an appreciation of 0.86%.
Going forward, investors will wait for US Unemployment Claims statistics to ascertain the market direction.

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[Terry_8]

XAUUSD BREACHES ABOVE 1900 LEVEL AMIDST DOLLAR WEAKNESS



XAUUSD registered a gap up opening at the start of the week following the broad-based weakness in the greenback. Besides, increasing coronavirus cases across the globe underpins the safe haven demand for the gold. The infection worldwide has surpassed the 85 million mark with total death toll above 1.8 million. As of now, gold is trading 1.30% higher at 1922.89 level.
Talking about the previous trading session, initially gold tested an intraday low of 1885.23 level after the AstraZeneca’s vaccine got approval for emergency usage in the UK. Additionally, the upbeat US Unemployment claims data which came at 787k less than the market anticipation of 832k, provided bids to the greenback.
However, gold managed to erase its intraday losses following the coronavirus woes in America. The nation recorded 3578 death on Thursday, highest since the pandemic began. Consequently, bullion ended the trading session at 1898.10 level, with an appreciation of 0.20%.
Going forward, market participants will remain watchful over US Final Manufacturing PMI, Construction Spending data for intraday trading opportunities.

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[Terry_8]

GOLD TAKES A BREATHER AHEAD OF GEORGIA SENATE ELECTIONS


After witnessing a massive rally of more than 2% in the previous trading session, XAUUSD takes a breather in the Asian hours on Tuesday. Besides, investors remain cautious to place aggressive bets ahead of the U.S. Senate votes in Georgia. As of now, the gold is trading 0.10% lower at the 1940.20 level.
On Monday, the safe-haven metal started the week with the gap up opening at 1904.08 level following the surging coronavirus cases across the globe. The infection worldwide surpassed the 85 million mark with a total death toll above 1.8 million. Moreover, investors' sentiment tampered after the Oxford University scientist John Bell raised doubts over the effectiveness of coronavirus vaccine on new COVID- 19 strain found in South Africa. Additionally, investors' appetite for risk declined after the UK announced the nationwide lockdown, while Germany stated to extend the coronavirus restrictions beyond 10th January. Thus, gold culminated the trading session at 1942.30 level, with an appreciation of 2.34%.
Going forward, market participants will remain watchful over US ISM Manufacturing PMI data for further impetus.

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[Terry_8]

GOLD BULLS CATCH BREATH AHEAD OF FOMC MEETING MINUTES



After gaining for five consecutive trading sessions, XAUUSD takes a breather at mid-1900 level in the early Asian trading hours on Wednesday as investors await for the FOMC meeting minutes and U.S Sente runoff results. As of now, gold is trading 0.21% lower at 1943.62 level.
Talking about the previous trading session, initially, the safe haven metal tested an intraday low of 1934.07 level following the optimism surrounding the coronavirus vaccine. The statement by the U.S FDA that two different mRA covid19 vaccines showed 95% effectiveness in preventing coronavirus infections, underpinned the investors sentiment. However, the bullion managed to erase all of its intraday losses and surged to 8- weeks high of 1955.28 level following the broad-based weakness in the U.S dollar. Consequently, the dollar denominated gold prices ended the trading session at 1945.21 level, with an appreciation of 0.37%.
Going forward, market participants will keep an eye on American ADP Non-Farm Employment Change, Final Services PMI, Factory Orders statistics and FOMC Meeting minutes for further trading impetus.

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[Terry_8]

XAUUSD TICKS HIGHER AMIDST HOPES FOR ADDITIONAL US FISCAL STIMULUS



After nosediving more than 1.50% in the previous trading session, XAUUSD takes breather in the Asian hours on Thursday. The demand for the gold remains supported due to the increase in the hopes for an additional US stimulus after the victory of Democrats in the U.S Senate runoff. As of now, the bullion is trading 0.16% higher at 1920.81 level.
On Wednesday, gold came under intensive selling pressure after testing the major resistance at the eight week high of 1960 level amidst bounce in the dollar from the multi-year low level. Thus, gold tested an intraday low of 1900.61 level.
However, the safe haven metal managed to erase some of the intraday losses after the release of downbeat U.S. economic statistics. The ADP Non Farm Employment Change statistics came at -123K, worse than the market anticipation of 60K and Final Services PMI arrived at 54.8 versus the forecast of 55.2. Consequently, bullion ended the traded session at 1917.70, with a depreciation of 1.59%.
Going forward, investors will wait for U.S. Unemployment Claims, ISM Services PMI statistics to ascertain the market direction.

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[Terry_8]

GOLD EXTENDS LOSSES AS U.S. EQUITIES CLIMB TO RECORD HIGH



XAUUSD flashes red for the third consecutive trading session amidst surge in the U.S. equities to an all-time high level. The investors’ appetite for risk improves due to the rise in the hopes for global economic recovery. As of now, the bullion is trading 0.29% lower at 1908.10 level ahead of crucial U.S. Non- Farm Employment statistics scheduled later in the day.

Meanwhile, the downside in the pair remains limited due to the rising coronavirus cases in America. The country recorded 274,190 daily cases on Thursday, the highest since the pandemic began. Additionally, investors remain apprehensive over the lockdown restrictions in UK, Italy and Germany.

Talking about the previous trading session, gold witnessed a two- way price action. Initially, gold tested an intraday high of 1927.53 level due to the increase in the hopes for an additional US stimulus after the victory of Democrats in the U.S. Senate elections in Georgia. However, gold erased all of its gains following the strong bounce in the greenback. Additionally, the release of upbeat US Unemployment Claims and ISM Services PMI statistics provided bids to the greenback. Consequently, dollar-denominated gold prices culminated the trading session at the 1913.74 level, with a depreciation of 0.29%.

Going forward, investors will remain watchful over U.S. Average Hourly Earnings and Unemployment Rate statistics to ascertain the market direction.

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[Terry_8]

GOLD EXTENDS LOSSES AMIDST DOLLAR STRENGTH



XAUUSD flashes red for the fourth consecutive trading session following the broad-based strength in the greenback. As of now, the gold is trading 0.74% lower at 1834.35 per ounce.
Meanwhile, the downside in the safe-haven metal remains limited due to the rising coronavirus cases across the globe. The infection worldwide has surpassed the 90 million mark with the death tolls at 1,943,171.
Talking about the previous trading session, the pair came under intensive selling pressure as the dollar continued to extend its bounce from the multi-month low level. Additionally, investors' sentiment boosted after the reports that Moderna’s coronavirus vaccine has got a green signal from the British regulators. Thus, gold tested an intraday low of 1828.17 level.
Later in the North American trading session, the US released mixed macro-economic statistics. The Non-Farm Employment Change came at -140K much worse than the market forecast of 60K, Unemployment Rate was at 6.7%, better than the anticipated 6.8% and Average Hourly Earnings m/m arrived at 0.8% vs 0.2% forecasted. Consequently, gold culminated the trading session at 1848.10 level, down by 3.39%.
Going forward, investors will wait for FOMC Member Bostic's speech for further impetus.

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[Terry_8]

GOLD TRADES HIGHER AMID GLOBAL SURGE IN CORONAVIRUS CASES


XAUUSD flashes green and is trading higher by 0.70% at the level of $1856.70 an ounce in the backdrop of rising Covid-19 cases worldwide. The virus cases have surpassed the 91 million mark, thus pushing investors towards the safe-haven metal. Further, the declaration of emergency by the US President Donald Trump in Washington DC ahead of President elect Joe Biden’s inauguration on January 20 is creating trepidation in the market. This political upheaval is also boosting the demand for gold.
On Monday, the yellow metal tested its intra-day low of $1815 per ounce due to firmness in the greenback. Further, the rise in 10-year US treasury yields faded the appeal of yellow metal. The higher interest rates increase the opportunity cost of holding non-yielding bullion. In addition, the rollout of vaccination drive in many countries also hit the demand for gold. However, the bullion pared some of its losses owing to expectations regarding the announcement of an expanded Covid-19 relief bill by the upcoming Biden’s administration along with $2000 handouts. At close, the bullion settled lower by 0.30% at the level of $1842.90 an ounce.
Up ahead, the virus status globally, vaccine developments and headlines related to US pandemic aid will decide the future trajectory of gold prices. The focus would also remain upon the FOMC member Brainard speech.

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[Terry_8]

GOLD GLITTERS AGAIN AS US DOLLAR WEAKENS AND TREASURY YIELDS EASE

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Bullion is trading higher by 0.29% at the level of $1859.37 an ounce in the early Asian trading hours on Wednesday following the broad-based weakness in the greenback. The pullback in the long-term US treasury yields from 10-month highs on Tuesday is dragging the US dollar lower, thus escalating the appeal of safe-haven metal. Moreover, the political turmoil in the US with plans to vote on the impeachment of Donald Trump is also supporting the gold prices.
Talking about the previous trading session, gold witnessed buying pressure as the greenback snapped its 4-day winning streak following a decline in the US 10-year treasury yields. Moreover, the hopes of further economic stimulus from the President-elect Joe Biden along with $2000 handouts escalated the bullion’s appeal as an inflation hedge. In addition to this, mounting coronavirus cases above the mark of 92 million also boosted the demand for yellow metal. As a result, the gold peaked at the level of $1863 but pared some of its gains after the US government asked to release millions of Covid-19 vaccine doses for second shots. Consequently, the bullion settled higher at the level of $1854.40 per ounce, with a gain of 0.62%.
Going forward, the US would unveil its CPI data for December. Further, the headlines related to the US fiscal stimulus would be keenly observed by the market participants.

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[Terry_8]

BULLION EXTENDS LOSSES AMID HIGHER US TREASURY YIELDS



XAUUSD extends its losses following the sustenance of US treasury yields above the mark of 1% on Thursday. Further, the progress over the vaccination drive on the global front to control the mutated form of coronavirus is also hitting the demand for yellow metal. As of now, the bullion is trading at the level of $1842.93 per ounce, representing a decline of 0.07%.
On Wednesday, the yellow metal tested its intra-day high of $1863 an ounce as the virus cases topped the worrisome mark of 92.5 million worldwide. Moreover, the US House of Representatives voted to impeach the US President for unprecedented second time, which increased the safe-haven appeal of gold. However, the bullion pared all of its gains afterwards as the greenback strengthened broadly. The US core inflation number at 0.4% came in line with investors’ expectations. In addition, the Beige book published by the US Federal Reserve showed upbeat economic recovery across most districts, which escalated the demand for the US dollar. Consequently, the bullion ended lower by 0.52% at the level of $1844.78 an ounce.
Looking ahead, the US would unveil its jobless claims data. Further, the investors shall remain focused upon President-elect Joe Biden’s speech and comments from Fed Chairman Jerome Powell to ascertain the future trajectory of gold prices.

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[Terry_8]

GOLD EXTENDS GAINS AS SURGING CORONAVIRUS CASES BOOST ITS SAFE HAVEN APPEAL



The bullion is trading higher by 0.36% at the level of $1852.71 an ounce in the Asian trading hours on Friday owing to rising Covid-19 cases worldwide. The virus has affected more than 93.5 million people globally with fatalities over 2 million, thus boosting the safe-haven appeal of gold. Further, the US President-elect Joe Biden unveiled a $1.9 trillion economic stimulus yesterday, which is also leading to higher demand for yellow metal as an inflation hedge.
On Thursday, gold witnessed a volatile session as initially bullion tested its intra-day low of $1829.65 per ounce due to optimism surrounding the vaccination drive. However, gold recovered all its losses in the New York session to touch an intra-day high of $1857.65 per ounce due to weakness in the greenback following the announcement of the US fiscal package. Moreover, the dovish monetary policy comments by the US Federal Reserve chair Jerome Powell also helped the dollar denominated gold price. On the data front, the downbeat US unemployment jobless claims also weighed on the greenback. The data climbed to 5-month high of 965k against the market expectations of 795k. Consequentially, the precious metal settled higher at $1845.53 per ounce, with a marginal gain of 0.04%.
Going forward, the US would publish its Retail Sales data and Industrial Production report. In addition, the NY Empire State Manufacturing Index and Michigan Consumer Expectations would also be observed by the market participants.

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[Terry_8]

GOLD TRADES LOWER AS STRONGER GREENBACK DENTS ITS APPEAL



After dipping to 1800 in the early Asian trading hours on Monday, gold is trading at the level of $1827.55 per ounce, with a marginal loss of 0.1%. The optimism surrounding the rollout of Covid-19 vaccine across the world is denting the safe-haven appeal of yellow metal.
On Friday, the precious metal touched the intra-day high of $1856.63 an ounce as the virus infections globally crossed the mark of 93.5 million. However, gold pared its gains afterwards owing to escalation in demand for the US dollar despite the large Covid-19 relief bill announced in the United States. In addition to this, the statement by the President-elect Joe Biden that he entails 100 million vaccine shots during his first 100 days in office faded the appeal of bullion. On the economic docket, the US data remained mixed as the Industrial Production surged 1.6% in December, beating the anticipated increase of 0.5% while the Retail sales fell by 0.7% in the same month against the expectations of -1.0%. Consequently, the yellow metal ended lower by 0.97% at the level of $1827.64 per ounce.
Looking ahead, the US calendar remains muted for the day due to bank holiday. The virus cases worldwide and Covid-19 vaccine developments would decide the future trajectory of gold prices.

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[Terry_8]

GOLD EXTENDS GAINS AS US STIMULUS HOPES RENDERS SUPPORT



Gold extends its gains in the Asian trading hours on Tuesday as the greenback witnesses mild pullback from its 4-week high level. The investors are looking ahead at the speech of Janet Yellen, the nominee to run the US Treasury Department. She is expected to outline a roadmap for the next Covid-19 relief package. At the time of writing, the precious metal trades at the level of $1839.07 an ounce, up by 0.09%.
On Monday, the yellow metal initially tested its 1.5 month low at 1800 level as the progress over the rollout of Covid-19 vaccine globally faded the safe-haven appeal. However, the bullion managed to trim all its losses as the virus infections worldwide surged past 95 million cases. Further, the US economic stimulus announced last week to jump-start the virus-stricken economy created a transient weakness in the greenback. The Eurozone finance ministers deliberated over the post-pandemic recovery plans and pledged for continued fiscal support in order to aid the economic imbalance. As a result, the bullion concluded at the level of $1837.32 an ounce, with a gain of 0.53%.
Up ahead, the US would not unveil any relevant macroeconomic data. The headlines pertaining to virus cases and vaccine developments will steer the gold prices.

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[Terry_8]

GOLD GLITTERS AGAIN AS THE US STIMULUS HOPES ENHANCES ITS DEMAND



Gold extends its gains for the third consecutive session in the Asian trading hours on Wednesday owing to broad-based weakness in the US dollar. The investors’ appetite for yellow metal is escalating following the speech by the nominee of the US Treasury Department Janet Yellen to expand the fiscal stimulus programme. As of now, the bullion is trading at the level of $1850.20 an ounce, with a gain of 0.53%.
On Tuesday, the precious metal initially touched an intra-day low of 1833 level due to optimism surrounding the rollout of Covid-19 vaccine globally. However, gold managed to recover all its losses as the virus infections worldwide crossed the mark of 96 million which boosted its safe-haven appeal. Further, the greenback eased from its 4-week high level in the backdrop of expectations pertaining to the expanded US pandemic aid and bolstered the demand for dollar denominated gold. As a result, the yellow metal culminated to the peak of 1845 level to settle higher by 0.15% at the level of $1839.80 per ounce.
Looking ahead, the inauguration of Joe Biden as the US president would remain a key event. In addition, the US NAHB Housing Market Index report, virus status globally and developments over the vaccination front would steer the gold prices.

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[Terry_8]

GOLD PRICES RISE FOR 4TH CONSECUTIVE SESSION ON US STIMULUS HOPES



The bullion continues to gain for 4th day in a row owing to US fiscal stimulus hopes. The expectations regarding the further economic package are increasing following the takeover of White House by Biden’s administration. As of now, the precious metal is trading at the level of $1873.74 an ounce, with a gain of 0.14%.
On Wednesday, the yellow metal made a sharp upmove owing to expectations of further US economic stimulus. Joe Biden sworn in as the 46th US President. He is expected to expand the Covid-19 relief package in order to aid the economic recovery. Further, the softening of greenback also rendered support to the dollar denominated gold. In addition, the virus cases breached the mark of 96.5 million with total fatalities over 2 million worldwide which escalated the appeal of safe haven metal. As a consequence, the bullion surged by 1.71% to the level of $1871.34 per ounce.
Up ahead, the US would unveil its Jobless Claims and Philadelphia Fed index report. In addition to this, the Housing Starts and Building Permit data would also be watched by the market participants.

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[Terry_8]

GOLD: BEARS ON THE FRONT SEAT AS DOLLAR RECOVERS GROUND



After snapping its 3-day winning streak in the previous trading session, XAUUSD flashes red in the Asian trading hours on Friday. Besides, buying in the greenback after losing for the four consecutive sessions and surge in the US equities to the record high level, exerts downside pressure on the bullion. At the time of writing, gold trades at the level of $1862 per ounce, representing a decline of 0.38%.
On Thursday, the precious metal initially tested an intra-day high of 1875 level owing to the US fiscal stimulus hopes. Later in the north-American session, the positive US economic data created pressure over gold. The US Jobless Claims came at 9,00,000, better than the forecast of 9,25,000 while the Philadelphia Fed index arrived at 26.5, against the expectations of 10.5. Consequently, the bullion concluded lower by 0.11% at the level of $1869.24 per ounce.
Looking ahead, the investors would remain watchful over the US flash manufacturing, services PMI and Existing home sales report

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[Terry_8]

GOLD TRADES FLAT AS BIDEN PREPARES FOR AN AGGRESSIVE ROLLOUT OF COVID-19 VACCINES



XAUUSD is trading flat with a slight negative bias at the level of $1854.66 an ounce in the Asian trading hours on Monday. The plans of Biden’s administration to efficiently produce and distribute vaccine is putting a mild pressure over the bullion. However, the expectations pertaining to additional US fiscal package is preventing a sharp decline in the yellow metal.
On Friday, the precious metal touched an intra-day low of 1837 level owing to strength in the greenback as the upbeat US data faded the safe-haven appeal of gold. The US Markit composite PMI climbed to 58, against the forecast of 55.9. Moreover, the existing home sales increased 0.7%, better than the expectations of -1%. However, bullion recovered some of its losses on the back of expectations regarding the US fiscal hopes. Consequently, the yellow metal settled lower by 0.77% at the level of $1854.80 per ounce.
Looking forward, the US would unveil its Dallas Fed Manufacturing Business and Chicago Fed National Activity Index report for further trading impetus.

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[Terry_8]

GOLD EXTENDS LOSSES AS US STIMULUS FACES POLITICAL HURDLE IN EXECUTION



After witnessing a sell-off in the previous trading session, XAUUSD extends its losses in the Asian trading hours on Wednesday owing to firmness in the greenback. The bullion remains under pressure on concerns that the US fiscal package might get delayed due to objections from Republicans who have considered the proposal to be expensive. As of now, gold is trading at the level of $1848.7 an ounce, representing a marginal decline of 0.03%.
On Tuesday, the bullion concluded lower by 0.29% at the level of $1850.21 per ounce as the US reported upbeat economic data. The US consumer confidence rose to 89.3, against the forecast of 88.9 and the Schiller Home Price Index report came at 1.1%, better than the expectations of 0.5%, which weighed on the dollar denominated gold prices. Further, the headlines about Biden’s administration plans to purchase 200 million more coronavirus vaccines also faded the safe-haven appeal of the yellow metal. Besides, the International Monetary Fund raised its global economic growth forecast at 5.5% for 2021 on the back of developments on the vaccination front.
Up ahead, the US FOMC press conference and statement, Federal Fund Rate, and Durable Goods orders would steer the gold prices.

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[Terry_8]

GOLD: BEARS ON THE DRIVING SEAT AMID BROAD-BASED STRENGTH IN GREENBACK



XAUUSD flashes red for the third consecutive trading session following the broad-based strength in the greenback. As of now, gold trading is 0.40% lower at $1838.55 level ahead of crucial US Advance GDP statistics scheduled later in the day.
Talking about the previous trading session, gold remained under pressure due to the delay in the US coronavirus relief package amidst objections from Republicans who considered the proposal to be expensive. Additionally, the demand for the dollar increased after the US Fed Reserve Bank maintained the status quo on interest rates and a bond-buying program. Additionally, the release of better than expected US Core Durable Goods Orders underpinned the demand for the greenback. Thus, the bullion tested an intraday low of 1831.19 level.
However, the safe-haven metal erased some of its losses after the Fed Chair Powell expressed concerns over the American economic growth. Consequently, the bullion concluded lower by 0.34% at the level of $1843.56 per ounce
Going forward, investors will keep an eye on US Unemployment Claims, CB Leading Index, and Good Trade Balance statistics for intraday trading opportunities.

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