XAUUSD REPORT (FXVIEW)

[Terry_8]

GOLD SLIPS TO MULTI-MONTH LOW AS VACCINE NEWS IMPROVES INVESTORS RISK ON SENTIMENT



The demand for safe haven gold declined to 4 month low of 1764.12 level in Asian trading hours amid the optimism surrounding the development of COVD-19 vaccine. The news over the weekend that London would approve the usage of Pfizer and BioNTech’s vaccine by December 7 weighs on the demand of the bullion. As of now, the gold is trading 0.90% lower at the 1770.30 level.
On Friday, initially, XAUUSD surged to intraday high of 1809.80 level owing to the doubts raised over the British pharmaceutical giant AstraZeneca’s coronavirus vaccine trial results.
However, later in the session, gold erased its gains and pierce below the crucial support of the 1800 level following the increase in traders’ expectation that U.S. Federal Reserve would likely increase the fiscal relief. Thus, the bullion ended the trading session at 1786.40 level, with a depreciation of 1.30%.
Going forward, investors will wait for U.S. Chicago PMI, and Pending Home Sales m/m statistics for intraday trading opportunities.

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[Terry_8]

GOLD TRADES HIGHER AHEAD OF POWELL’S TESTIMONY



After testing the 4 month low of 1764.12 in the previous trading session, gold ticks higher in Asian trading hours as investors refrain from placing aggressive bets in the dollar ahead of Fed Chair Powell’s Testimony. Meanwhile, investors are anticipating further monetary easing by the Federal Reserve to cushion the economy affected by the pandemic.
As of now, XAUUSD is trading 0.51% higher at 1785.67 level.
On Monday, the safe-haven metal came under selling pressure following the optimism surrounding the development of the COVD-19 vaccine. The news over the weekend that London would approve the usage of Pfizer and BioNTech’s vaccine by next week underpinned the investors’ appetite for risk.
However, gold pared some of the intraday losses after the release of downbeat macroeconomic statistics from the American economy. The US Chicago PMI came at 58.2, vs market expectation of 59.4, and Pending Home Sales m/m arrived at -1.1%, much less than the traders’ forecast. Consequently, the bullion ended the trading session at 1776.50 level, with a depreciation of 0.56%.
Going forward, investors will wait for US ISM Manufacturing PMI statistics for further impetus.

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[Terry_8]

GOLD INCHES LOWER ON STIMULUS OPTIMISM, EYES ON POWELL TESTIMONY



After gaining more than 2% in the previous trading session, gold ticks lower in Asian trading hours as investors' risk sentiment improved on developments in US stimulus talks. House of Representatives Speaker Nancy Pelosi and US Treasury Secretary Steve Mnuchin again started the talks for the relief package for the first time since the November elections. As of now, the XAUUSD is trading 0.25% lower at 1810.02 level.
On Wednesday, the bullion witnessed a strong bounce from the 4-month low following the broad-based weakness in the greenback. Further, the downbeat US ISM Manufacturing PMI that came at 57.5, less than the market expectation of 57.9, undermined the demand for the greenback.
Moreover, the demand for safe haven metal increased due to surging concerns over increasing coronavirus cases in the America. The country reported 2611 daily deaths, highest since 21st April. Thus, gold ended the trading session at 1814.60 level, with an appreciation of 2.15%.
Going forward, investors will wait for U.S. ADP Non- Farm Employment Change, and Fed Chair Powell testimony to ascertain the market direction

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[Terry_8]

GOLD EXTEND GAINS AMIDST DOLLAR WEAKNESS, EYE ON U.S. DATA



GOLD flashes green for the third consecutive trading session following the decline in the dollar to the lowest level since May 2018. As of now, the bullion is trading 0.22% higher at 1834.87.
Meanwhile, the upside in the safe-haven metal remains capped due to the optimism surrounding the coronavirus vaccine. UK has become the first country to approve the COVID-19 vaccine developed by the Pfizer/BioNTech and is expected to provide vaccination next week for widespread usage.
Talking about the previous trading session, initially gold tested an intraday low of 1807.07 as investors' risk sentiment improved on developments over US stimulus talks. House of Representatives Speaker Nancy Pelosi and US Treasury Secretary Steve Mnuchin restarted the talks for the relief package for the first time since the November elections.
However, the bullion managed to erase the losses and witnessed buying after the downbeat U.S. ADP Non- Farm Employment Change statistics that came at 307K while missing the market expectation of 433K. Moreover, the demand for safe-haven metal increased due to surging concerns over increasing coronavirus cases in America. The country reported 2831 daily deaths, the highest since the pandemic began. Consequently, gold ended the trading session at 1830.10, with an appreciation of 0.86%.
Going forward, investors will keep an eye on US Unemployment Claims and ISM Services PMI statistics for further impetus.

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[Terry_8]

GOLD TRADES FLAT AT 1840 LEVEL AHEAD OF CRUCIAL US UNEMPLOYMENT DATA



XAUUSD is trading flat with a slight positive bias in Asian trading hours on Friday as investors remain cautious ahead of US Unemployment statistics, scheduled to release late in the day. As of now, gold is trading at 1840.62 level, with a marginal gain of 0.03%.
On Thursday, the dollar gained positive traction following the plunge in the dollar to the multi-year low level. This was due to the upbeat tone by the Republicans in the U.S. Congress over the coronavirus relief package. Also, the demand for safe-haven metal increased due to surging concerns over increasing coronavirus cases in America. The country reported 218,576 dairy coronavirus cases with death tally at 2918, the highest since the pandemic began. Thus, the bullion tested an intraday high of 1843.79 level.
However, gold trimmed some of the intraday gains after the release of upbeat US Unemployment Claims statistics that came at 712K, better than the market expectation of 775k. Consequently, gold ended the trading session at 1840 level, with an appreciation of 0.55%.
Going forward, investors will wait for US Average Hourly Earnings m/m, Non-Farm Employment Change, and Unemployment Rate statistics for further impetus

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[Terry_8]

GOLD TRADES HIGHER AMIDST SURGE IN THE CORONAVIRUS CASES



XAUUSD kicks off the week on a positive note due to the increasing concerns about coronavirus cases across the globe. The total confirmed cases worldwide have surpassed the 67 billion mark with a death toll of 1,541,747. Meanwhile, Southern California of America has reimposed lockdown and South Korea raised their alert levels. As of now, gold is trading 0.69% higher at 1839.17.
Talking about the previous trading session, initially, the bullion surged to an intraday high of 1848.10 due to the optimism surrounding the US coronavirus relief package. The prospective stimulus package worth $908 billion likely to available on March 31 that would include $228 billion in additional paycheck protection funds for small business houses.
However, later in the session, the bullion erased all of its gains after the release of mixed US Unemployment statistics. The Non-Farm Employment change came worst than anticipated, whereas the Unemployment Rate exceeded the market expectations. Consequently, gold ended the trading session at 1837.86, with a depreciation of 0.12%.
Going forward, investors will wait for coronavirus related headlines for further impetus.

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[Terry_8]

GOLD EXTEND GAINS AS RISING CORONAVIRUS CONCERN SPURS SAFE HAVEN DEMAND



After gaining more than 1% in the previous trading session, gold flashes green in the Asian trading hours following the mounting coronavirus cases across the globe. The total confirmed cases worldwide have increased to 67,938,995 with a death tally of 1,550,263. Meanwhile, Southern California, the US most populous state has imposed the harshest restrictions after the state set a record with total death toll surpassing the 20K mark
As of now, the bullion is trading 0.27% higher at 1867.52.
On Monday, gold resumed its upside journey as reescalation in US- China trade tensions weighed on the investors’ risk appetite. Washington was planning to impose sanctions on Chinese officials over their alleged role in bringing down the China’s elected opposition legislators in Hong Kong.
Moreover, the demand for bullion boosted due to the optimism that US stimulus packages could be unveiled this week. The prospective stimulus package worth $908 billion likely to available on March 31 that would include $228 billion in additional paycheck protection funds for small business houses. Consequently, gold ended the trading session at 1862.32, with an appreciation of 1.29%.
Going forward, investors will wait for US NFIB Small Business Index, Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q for short term trading impetus

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[Terry_8]

GOLD DECLINES AS PROGRESS OVER COVID-19 VACCINE WEIGHS



XAUUSD ticks lower in the Asian trading hours tracking the gains in the equity markets amidst positive news surrounding the COVID-19 vaccines. UK has become the first nation to start its nationwide vaccination programme. Also, the US Food and Drug Administration has stated that the coronavirus vaccine made by Pfizer Inc. and its German partner BioNTech is highly efficient in treating the coronavirus affected patients. As of now, gold is trading 0.53% lower at 1859.82 level.
Talking about the previous trading session, the safe haven metal gained bids due to the mounting coronavirus cases across the globe. Also Southern California, the US most populous state imposed the harshest restrictions for at least three weeks after the state set a record with total death toll surpassing the 20K mark.
Moreover, the demand for bullion boosted over the prospects of US stimulus that it could be unveiled before the December 11 deadline. U.S. Treasury Steven Mnuchin presented aid package worth $916 billion during the conversation with Nancy Pelosi. Thus, bullion ended the trading session at 1869.80 level, with an appreciation of 0.43%.
Going forward, investors will keep an eye on US JOLTS Job Opening statistics for ascertaining the market direction

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[Terry_8]

GOLD TICKS HIGHER AMIDST DOLLAR WEAKNESS, FOCUS ON US MACRO DATA



After nosediving more than 1.5% in the previous trading session, Gold flashes green in the Asian trading hours amidst weakness in the equities. Besides, investors refrain from placing aggressive bets on the dollar ahead of crucial Unemployment Claims statistics, scheduled later in the day. As of now, the bullion is trading marginally higher by 0.03% at 1839.46.
On Wednesday, the demand for the safe-haven metal declined following the positive news surrounding the coronavirus vaccines. UK became the first nation to start its nationwide vaccination program. Also, the US Food and Drug Administration stated that the coronavirus vaccine made by Pfizer Inc. and its German partner BioNTech is highly efficient in treating the coronavirus affected patients. Moreover, investors remained concerned about the stalemate situation over the US stimulus package ahead of the looming December 11 deadline.
Thus, gold ended the trading session at 1838.90, with a depreciation of 1.63%.
Up ahead, investors will remain watchful over US core CPI m/m for intraday trading opportunities

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[Terry_8]

GOLD TRADES FLAT AHEAD OF U.S. CORE PPI STATISTICS



After witnessing a volatile trading session on Thursday, gold is trading flat with a slight positive bias as investors refrain from placing aggressive bets in the dollar ahead of crucial US core PPI m/m statistics scheduled to release later in the day. As of now, the bullion is trading marginally higher by 0.03% at 1836.67 level.
Meanwhile, the upside in the pair remains capped following the optimism surrounding the coronavirus vaccine. According to the latest news, the U.S. FDA Advisory Panel has recommended Pfizer’s coronavirus candidate for emergency usage.
Talking about the previous trading session, initially, gold tested an intraday low of 1828.53 after the Canada approved the usage of Pfizer-BioNTech vaccine.
However, gold pared some of the intraday loses after the release of downbeat US Unemployment Claims that arrived at 853K, much more than the market expectation of 723K, which undermined the demand for the greenback. Consequently, gold ended the trading session at 1836 level, with a depreciation of 0.15%.
Going forward, investors will remain watchful over coronavirus headlines to ascertain the market direction.

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[Terry_8]

GOLD TRADES HIGHER AS COVID-19 FEARS DRIVE SAFE HAVEN DEMAND



Gold flashes green in the Asian trading hours on Tuesday tracking the weakness in the equity market. The investors’ risk sentiment undermined due to increasing coronavirus infection across the globe. According to the latest news, London will impose the highest level of restriction from Wednesday after the new variant of coronavirus infected 1000 people in the nation. Furthermore, the total coronavirus deaths in the United States has surpassed the 3,00,000 mark. As of now, the bullion is trading 0.66% higher at 1838.82 level.
Talking about the previous trading session, initially, safe haven metal declined to an intraday low of 1818.10 level following the increase in the investors’ appetite for risk as the Food and Drug Administration approved the emergency usage of the Pfizer vaccine on Friday.
However, gold managed to pare some of the losses following the news related to the re-imposition of coronavirus restrictions in Germany and the UK. Consequently, gold ended the trading session at 1826.66 level, with a depreciation of 0.63%.
Going forward, market participants will remain watchful over the US Empire State Manufacturing Index, Industrial Production data for further impetus.

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[Terry_8]

GOLD EXTEND GAINS AMIDST STIMULUS HOPES, EYES ON U.S. PMI DATA



Gold is trading higher for the second consecutive trading session following the decline in the greenback to a multi-year low level. The demand for bullion remains cushioned due to the increase in the hopes for the U.S. stimulus package. House of Representatives Speaker Nancy Pelosi met Congress leaders on Tuesday to reach a consensus over the $1.4 trillion aid package. As of now, gold is trading 0.22% higher at 1857.26.

Talking about the previous trading session, safe haven metal surged to an intraday high of 1855.30 as investors’ risk sentiment undermined due to increasing coronavirus infection across the globe. London announced to impose the highest level of restriction from Wednesday after the new variant of coronavirus infected 1000 people in the nation. Also, total coronavirus deaths in the United States surpassed the 300,000 mark.

Moreover, the bullion gained positive traction following the broad-based weakness in the greenback. Consequently, gold ended the trading session at 1853.10, with an appreciation of 1.44%.

Going forward, market participants will remain watchful over U.S. Core Retail Sales m/m, Flash Manufacturing PMI, Flash Services PMI data, FOMC Economic Projections, FOMC Statement, Federal Funds Rate and FOMC Conference for further impetus.

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[Terry_8]

GOLD EXTEND GAINS AMIDST DOLLAR WEAKNESS, EYES ON US MACRO DATA



XAUUSD extend its winning streak for the third consecutive trading session following the plunge in the greenback to the multi-year low level. Besides, the demand for safe-haven metal remains cushioned as investors are concerned over the increasing coronavirus cases. The US recorded 3486 deaths on Wednesday, the highest since the pandemic began. As of now, the bullion is trading 0.12% higher at the 1866.57 level.

Talking about the previous trading session, gold gained bids due to the increase in the hopes for the U.S. stimulus package. House of Representatives Speaker Nancy Pelosi met Congress leaders on Tuesday to reach a consensus over the $1.4 trillion aid package.

On the economic docket, the downbeat US Core Retail Sales m/m that came at -0.9%, vs 0.1% forecast, weighed on the greenback. Further in the Late American session, US Federal Reserve’s decision to keep the interest rate in a range of 0% to 0.25% until they see substantial progress in the inflation and employment levels, undermined the demand for the dollar. Thus, dollar denominated gold price ended the trading session at 1864.16, with an appreciation of 0.59%.

Going forward, market participants will remain watchful over U.S. Philly Fed Manufacturing Index, Unemployment Claims statistics for further impetus.

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[Terry_8]

GOLD: BULLS TAKE A BREATHER AMIDST BOUNCE IN THE US DOLLAR



After surging to four-week high level of 1896.17 in the previous trading session, gold is taking a breather in the Asian trading hours amidst a bounce in the dollar from its multi-year low level. As of now, the bullion is trading 0.12% lower at 1882.82 level.
On Thursday, gold witnessed intensive buying pressure following the broad-based weakness in the greenback. Besides, the safe-haven metal attracted bids as investors were concerned over the increasing coronavirus cases in America. The nation recorded 3561 deaths on Wednesday, the highest since the pandemic began.
Moreover, demand for gold remained cushioned due to the hopes for the U.S. stimulus package. The Legislators reached closer to clinch a deal on an additional $900 billion stimulus package, involving $600 stimulus checks for citizens and extended jobless benefits. On the economic docket, the downbeat US Philly Fed Manufacturing Index, Unemployment Claims undermined the demand for the dollar.
However, gold witnessed some profit booking and ended the trading session at 1885.10 level, with an appreciation of 1.14%.
Going forward, investors will wait for US Current Account, CB Leading Index m/m for further impetus

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[Terry_8]

GOLD: BULLS BACK IN THE DRIVING SEAT FOLLOWING THE COVID-19 CONCERNS



Gold surges to 1899.40 level, the highest level since 9th November on the first day of the week amidst weakness in the equities. The investors' appetite for risk declines as the novel coronavirus cases has surpassed the 77 million mark globally. According to the latest news, UK PM Boris Johnson has announced a higher level of lockdown in London and areas of Southeast England after the nation reported that new variant of coronavirus went out of control. Also, the Dutch banned the UK passenger flights as the former found the first case of the new variant. As of now, the bullion is trading 0.86% higher at the 1896.91 level.
Besides, demand for gold remains cushioned as the US lawmakers over the weekend reached a consensus on the long awaited $900 billion stimulus package.
Talking about the previous trading session, gold snapped its three-day winning streak following the bounce in the greenback from the multi-year low level. On the economic docket, upbeat US Current Account and CB Leading Index m/m underpinned the demand for the greenback. Thus, dollar-denominated gold price ended the trading session at 1880.66 level, with a depreciation of 0.21%.
Going forward, market participants will remain watchful over coronavirus related headlines ascertain the market direction

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[Terry_8]

GOLD TICKS HIGHER AS CORONAVIRUS WOES LIFT SAFE HAVEN DEMAND



XAUUSD flashes green in the Asian trading hours tracking the weakness in the equities. Investors' appetite for risk declines as the concerns over the new strain of the coronavirus has reduced the hopes for the global economic recovery. According to the latest news, more than 40 countries have shut down their arrivals from the UK. As of now, the bullion is trading 0.26% higher at the 1880.52 level.
On Monday, safe haven metal initially surged to an intraday high of 1906.62 level after the coronavirus cases across the globe surpassed the worrisome 77 million mark. Moreover, PM Boris Johnson announced a higher level of lockdown in London and areas of Southeast England after the nation’s health minister reported that a new variant of coronavirus went out of control. Additionally, gold attracted bids following the weekend’s news that the US lawmakers reached a consensus on the long-awaited $900 billion stimulus package.
However, later in the session, gold erased all of its gains following the broad-based strength in the greenback. Consequently, bullion ended the trading session at the 1875.60 level, with a depreciation of 0.23%.
Going forward, investors will wait for U.S. Final GDP q/q, CB Consumer Confidence, Existing Home Sales, Richmond Manufacturing Index to ascertain the market direction.

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[Terry_8]

GOLD SNAPS THREE DAY LOSING STREAK AMIDST CONCERNS OVER NEW CORONAVIRUS STRAIN



XAUUSD ticks higher in the Asian trading hours on Wednesday amidst broad-based weakness in the greenback. The demand for the safe-haven metal increases as the new variant of Coronavirus in the UK raises concerns over slower economic recovery. As of now, gold is trading 0.36% higher at 1866.13 level.
Talking about the previous trading session, gold witnessed selling pressure after the release of dismal US Final GDP q/q which came at 33.4%, vs market forecast of 33.1%. Besides, later in the North American session, the decline in the hopes over the US relief package exerted pressure on the gold. Donald Trump refused to sign the long-awaited stimulus aid until Congress raises the amount on stimulus checks. Thus, gold ended the trading session at the 1859.40 level, with a depreciation of 0.21%.
Going forward, market participants will keep an eye on US Core Durable Goods Orders, Core PCE Price Index, Personal Income, Personal Spending, Unemployment Claims, New Home Sales, Revised UoM Consumer Sentiment and Inflation Expectations statistics to ascertain the market direction.

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[Terry_8]

XAUUSD EXTENDS GAINS AMIDST CONCERNS OF NEW STRAIN OF COVID-19



Gold is trading higher in the Asian trading hours following the escalation in the coronavirus cases across the globe. The infection cases have surpassed the 79 million mark worldwide with a death tally at 1,737,748. As of now, the bullion is trading 0.18% higher at the 1875.88 level.
Talking about the previous trading session, gold surged to an intraday high of 1878.48 as the new variant of Coronavirus in the UK raised concerns for the possible halt in the slowly recovering global economy. The tighter curbs announced in the UK and several other economies weighed on the investors’ risk appetite. Additionally, broad-based weakness in the greenback underpinned the demand for the commodity.
However, gold trimmed some of the gains due to the decline in the hopes over the US relief package exerted pressure on the gold. Donald Trump refused to sign the long-awaited stimulus aid until Congress raises the amount for stimulus checks. Thus, gold ended the trading session at 1872.35, with an appreciation of 0.71%.
Going forward, the headlines related to coronavirus pandemic would be keenly awaited by the market participants.

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[Terry_8]

GOLD TICKS HIGHER AFTER TRUMP SIGNS $2.3 TRILLION STIMULUS BILL



The precious metal edges higher after registering a gap up opening on the first day of the week after US President Trump signed a coronavirus relief package on Sunday evening. The stimulus package worth $2.3 trillion is aimed to soften the economic blow caused by the pandemic.
As of now, gold is trading at $1891.63 per ounce, up by 0.50%.
Talking about the previous trading session, gold attracted safe- haven bids as investors remain cautious over the mounting COVID-19 cases across the globe. In addition to this, a new strain of coronavirus cases confirmed in England, Canada, Japan and France added to the worries in the market. Thus, gold ended the trading session at $1878.88 per ounce, with an appreciation of 0.33%.
Moving ahead, US will release Dallas FED Manufacturing Business Index in today’s session.

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[Terry_8]

XAUUSD TRADES HIGHER AMIDST HOPES OF US STIMULUS PACKAGE

Gold registers a gap up opening for the second consecutive trading session amidst broad based weakness in the greenback. Besides, the demand for gold remains cushioned due to the prospects of an additional US stimulus package. US lawmakers votes to increase the amount of stimulus checks from $600 to $2000. As of now, gold is trading 0.32% higher at 1879.06.
On Monday, gold started the week with the gap up opening at 1887.20, courtesy to the news that President Trump signed a coronavirus relief package worth $2.3 trillion over the weekend. Additionally, safe haven metal gained bids following the escalation in the coronavirus cases across the globe. The infection cases surpassed the 80 million mark worldwide with a death tally at 1,781,539. Thus, gold tested an intraday high of 1900.17 level.
However, the gold pared all of its gains in the American trading hours following the broad-based strength in the greenback. Consequently, gold ended the trading session at 1872.90, with a depreciation of 0.31%.
Going forward, investors will wait for S&P/CS Composite- 20 HPI y/y for further impetus.

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