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Gold Price Forecast Bright & Volatile as USD, Real Yields Swing
Gold performance continues to glisten. The precious metal has staged an impressive 12% rally over the last three weeks, which just catapulted XAU/USD to an all-time high above the $2,000-price level. This recent extension higher lifts gold price action to a 33% gain year-to-date.
Attachment 40165
The price of gold holds a strong inverse relationship with real yields, generally speaking, and underscores a primary driver of the yellow-metal’s broader direction. To that end, real yields have been crashing lower since August 2018, which just so happens to correspond with where gold prices bottomed two years ago.
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Gold Price Outlook Dictated By Presidential Polls, Fiscal Aid Hopes
Attachment 40687
Gold’s resilience in the wake of fading fiscal aid hopes suggests that the price of Bullion may hinge on polling data ahead of US Presidential Elections in November.
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Gold Price: ranging within 1,965/1,848 levels for direction
Attachment 41055
Gold prices fell for a second consecutive week as inflation expectations eased after a U.S. political shift. Despite the recent drop, XAU/USD remains over 20% higher year-to-date.
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Gold Price Tracks Weakness Ahead of Fed Meeting
Attachment 41611
The Federal Reserve’s first meeting for 2021 may do little to prop up the price of gold as the central bank relies on its non-standard tools to achieve its policy targets.
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Gold: daily ranging near bullish reversal area for direction
Attachment 43784
Gold prices remain vulnerable despite a headline non-farm payrolls miss. Rising wages could mean that inflation remains high, complicating the Fed's outlook. XAU/USD eyes CPI data.
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U.S. Consumer Sentiment decreased by slightly
Attachment 44132
The University of Michigan released a report on Wednesday showing consumer sentiment in the U.S. decreased by slightly less than initially estimated in the month of November. The report said the consumer sentiment index for November was upwardly revised to 67.4 from the preliminary reading of 66.8. Economists had expected the index to be upwardly revised to 66.9.
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