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Forex Today: Gold surges above $4,240 as US labor data crumbles
Metals were the biggest earners of the day on Wednesday, with Gold surging more than 4% to trade near $4,247 per troy ounce and Silver rallying almost 5% toward $62.20 amid a softer-than-expected US labor market report, with a slowdown in private hiring.
Silver Price Forecast: XAG skyrockets above $60, tests 50-day SMA
Silver (XAG/USD) price surges more than 4% on Wednesday as the Greenback remains on the back foot due to softer-than-expected jobs and data, though the fall was capped as business activity in the services sector continued to expand.
Gold rallies as Iran-US deal seems closer ahead of NFP
Gold (XAU/USD) price surges to its highest level in nearly seven weeks, gaining nearly 3.80% on Wednesday as the Greenback loses ground and US Treasury yields fail to gain traction. The XAU/USD pair trades at $4,232, its highest level since June 18, after bouncing off daily lows of $4,065.
Silver Price Forecast: Daily momentum improves, but weekly outlook stays bearish
Silver (XAG/USD) jumps more than 4% on Wednesday as weaker-than-expected US ADP employment data and easing energy-driven inflation prompt traders to scale back expectations for Federal Reserve (Fed) rate hikes. At the time of writing, XAG/USD trades around $62.30, near its highest level in a month.
Silver Price Forecasts: XAG/USD, capped below $62.00 but steady near one-month highs
Silver (XAG/USD) has found some resistance at the $61.90 area on Wednesday, before pulling back to $61.24 at the moment of writing, but remains above the top of the last four weeks’ range, at the $60.90 area.
Gold tops $4,200 on softer US labour data as Fed outlook turns less hawkish
Gold (XAU/USD) jumps more than 3.50% on Wednesday as weaker-than-expected US labour market data pressures the US Dollar (USD), while lower Oil prices on hopes of reopening the Strait of Hormuz ease inflation concerns and weaken expectations for Federal Reserve (Fed) rate hikes.
Gold Price Forecast: XAU/USD hits fresh weekly highs beyond the top of a triangle pattern
Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $61.52 per troy ounce, up 2.87% from the $59.81 it cost on Tuesday.
Silver Price Forecast: XAG/USD hits one-month high, eyes $62.00 after technical breakout
Silver (XAG/USD) builds on the previous day's modest gains and attracts strong follow-through buying for the second straight day on Wednesday. The positive momentum lifts the white metal to the $62.00 neighborhood – the highest level since July 7 – during the early European session.
India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.
Gold clings to gains near one-month top as receding Fed rate hike bets undermine USD
Gold (XAU/USD) maintains its strong bid tone through the first half of the European session and currently trades around $4,170, just below a nearly one-month high touched earlier this Wednesday.
Gold edges lower below $4,100 as markets focus on US-Iran talks
Gold price (XAU/USD) declines to near $4,070 during the early Asian session on Wednesday. The precious metal fluctuates as traders weigh the Federal Reserve’s (Fed) interest-rate path amid uncertainty in the Middle East.Â
Gold shines and rises on Iran’s deal hopes, lower US yields
Gold (XAU/USD) advances some 0.75% on Tuesday as Oil prices fall, along with US Treasury yields. Also, an improvement in risk appetite propelled the yellow metal to a two-day peak of $4,106.