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XAUUSD Gold signal at the beginning of the month

Gold/U.S. Dollar FX:XAUUSD

Phenol_fx

XAUUSD Late Tuesday, ratings agency Fitch downgraded the top U.S. government credit rating to AA+ from AAA, citing the risk of a financial recession over the next three years. The US dollar partially reversed earlier gains and tracked fresh weakness in US Treasury yields, providing some support for gold prices early Wednesday.

The greenback failed to capitalize on an extension of risk-off trades and US Treasury Secretary Janet Yellen's disapproval of Fitch's downgrade, as bets rose on a pause in interest rate hikes. rate of the US Federal Reserve (Fed) later this year amid signs that the US labor market is struggling. cooling.

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Gold Price Forecast: XAU/USD remains confined in a narrow range ... - FXStreet

Gold Price Forecast: XAU/USD remains confined in a narrow range ...  FXStreet

source https://news.google.com/rss/articles/CBMif2h0dHBzOi8vd3d3LmZ4c3RyZWV0LmNvbS9uZXdzL2dvbGQtcHJpY2UtZm9yZWNhc3QteGF1LXVzZC1yZW1haW5zLWNvbmZpbmVkLWluLWEtbmFycm93LXJhbmdlLWJlbG93LXRoZS0xLTk1MC1sZXZlbC0yMDIzMDgwMjA0MzjSAQA?oc=5

Gold scores best month since March on hopes rate-hike cycle nearly ... - Seeking Alpha

Gold scores best month since March on hopes rate-hike cycle nearly ...  Seeking Alpha

source https://news.google.com/rss/articles/CBMiwAFodHRwczovL3NlZWtpbmdhbHBoYS5jb20vbmV3cy8zOTkzODY4LWdvbGQtc2NvcmVzLWJlc3QtbW9udGgtc2luY2UtbWFyY2gtb24taG9wZXMtcmF0ZS1oaWtlLWN5Y2xlLW5lYXJseS1kb25lP3NvdXJjZT1jb250ZW50X3R5cGUlM0FyZWFjdCU3Q2ZpcnN0X2xldmVsX3VybCUzQW1hcmtldC1uZXdzJTdDc2VjdGlvbl9hc3NldCUzQW1haW7SAQA?oc=5

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Gold changes trend in early August

Gold/U.S. Dollar FX:XAUUSD

HL-TradingFX

The world gold price increased by 8 USD/ounce, to 1,958 USD/ounce. Gold bulls this week focused on recent upbeat economic data from the US and the European Union that could suggest better commercial and consumer demand for the precious metal in the coming months.

However, recent upbeat economic data from China should keep precious metals traders from getting too excited. Gold needs strong news to be able to rise to record highs.

“Gold is at a standstill as investors continue to focus on tight monetary policies and the US money supply,” said John LaForge, head of real asset strategy at Wells Fargo Investment Institute. decline.

The fact that the US Federal Reserve (Fed) is nearing the end of its tightening cycle and gold may be nearing the top of a long-term bull market is only a matter of time before the US Central Bank starts pumping money. return to financial markets to keep the economy from falling into recession.

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