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Breaking: ​​​​​​​Gold drops below $1,900 for the first time since mid-March

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Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse
FBS

GOLD: US Dollar Hits Supply Zone, What Next?

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Here's the latest news from Federal Reserve Chair Jerome Powell. While speaking at a conference in Portugal, Powell expressed optimism about the US economy and decreased the possibility of a recession, stating that the economy has shown resilience and is still growing, albeit at a modest pace. He acknowledged the possibility of a recession but
FXStreet

Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

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Gold price regains momentum above $1900 despite increased odds of Fed rate hikes. US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA. Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand. Gold price recovers some ground after sliding below the $1900 figure for the first time
FXStreet

Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

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The decline in Gold is now on the cusp of Credit Suisse’s target of price and retracement support at $1,900/1,890. The bank analyzes XAU/USD technical outlook. Weekly close below $1,856 to reinforce the longer-term sideways range Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at
FXStreet

Gold Price Forecast: XAU/USD bears keep control, focus on $1,885 and Fed inflation gauge

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Gold Price stays bearish near the lowest levels since March, braces for the second consecutive weekly loss. Hawkish Federal Reserve talks, upbeat United States data underpin US Dollar strength and weigh on XAU/USD. US-China jitters, Germany’s recession fears and fewer accolades for European Central Bank hawks also favor Gold sellers. China’s official PMIs, US PCE
FXStreet

Exciting Gold Price Forecast: XAU/USD stands firm above the $1,900 mark, while all eyes eagerly await the US PCE Price Index for a burst...

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Gold price fails to attract any buyers or build on the overnight bounce from a multi-month low. Hawkish major central banks continue to act as a headwind for the non-yielding commodity. The US Dollar stands tall near a two-week high and also contributes to capping the XAU/USD. Investors keenly await the release of the US
FXStreet

Gold Price Forecast: XAU/USD Glides Around $1,900, Anticipating Data to Unveil Fed’s Hawkish Signals – Confluence Detector The captivating dance of XAU/USD continues as it...

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Gold Price remains dicey as bears attack the key support while seeking confirmation of hawkish Fed bias. Fed’s preferred inflation, FOMC Minutes and NFP will be crucial to watch for clear XAU/USD directions. US-China headlines, central bankers’ speeches may entertain the Gold sellers. Gold Price (XAU/USD) lacks clear directions even as bears keep the reins
  • Stronger-than-expected US economic data boosts the US Dollar across the board.
  • US Treasury yields spike higher, putting pressure on Gold.
  • XAU/USD fell below $1,900/oz, reaching its lowest level in three months.

Gold prices tumbled following the release of US economic data. XAU/USD broke below $1,900 for the first time since mid-March and fell to $1,894. The yellow metal remains under pressure while the US Dollar Index trades at 103.25, the strongest level since June 15.

Data from the US showed a revision to Q1 GDP from 1.3% to 2% and a decline in Initial Jobless Claims to 239K, the lowest level in four weeks. Those numbers surpassed expectations and add to recent figures that came in stronger than expected. On Friday, the Core Personal Consumption Expenditure is due.

After the reports, the US 10-year Treasury bond yield jumped to 3.82%, the highest level since June 15, while the 2-year yield soared to 4.88%, the highest since March 9.

The increase in yields is boosting the US Dollar and affecting Gold, which is falling for the third consecutive day.

XAU/USD

Overview
Today last price1896.18
Today Daily Change-11.20
Today Daily Change %-0.59
Today daily open1907.38
Trends
Daily SMA201943.8
Daily SMA501972.29
Daily SMA1001943.58
Daily SMA2001857.02

Levels
Previous Daily High1917.26
Previous Daily Low1902.91
Previous Weekly High1958.85
Previous Weekly Low