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What Gold did when the shooting resumed
Gold slides toward support after breaking its 200-day average as oil above $90, rising yields and rate-hike odds keep sellers in charge.
Gold sliced through the 20-day and 100-day averages on Tuesday and is testing a tight support cluster that will decide whether the August rebound survives.
A forever Gold bull market?
Gold collapses as US-Iran strikes send Oil, US yields higher
The beginning of a new month marks a good opportunity to review the seasonal patterns that have influenced the forex market over the 50+ years since the Bretton Woods system was dismantled in 1971, ushering in the modern foreign exchange market.
Limited downside ahead for the Canadian Dollar, but the US-Canada rate gap should keep USD/CAD supported below 1.40 say analysts. The US Dollar to Canadian Dollar (USD/CAD) exchange rate traded around 1.3902 on Tuesday, recovering from an overnight low near 1.3846.
RBC still sees the gold price grinding towards $5,000 despite the latest selloff, with investor and central-bank flows underpinning its high-conviction view. The Gold price fell sharply again on Tuesday, with our XAU/USD rate around $4,355, down 2.1% on the day after ending August near $4,450.
The week has not been particularly favorable for the euro. Over the last three trading sessions, EUR/USD has declined by nearly 0.5%, once again highlighting a meaningful bearish bias in the short term.
Middle East war takes its toll on Gold prices
Pound Sterling Price News and Forecast: GBP/USD stalls as mixed US data keeps Fed hawkish bets alive
Bitcoin and Gold Outlook: Bitcoin broadly consolidates, Gold falls as US JOLTS Job Openings rise
The Australian dollar reversed off a multi-year resistance zone after an eight-week advance, leaving U.S. jobs data to set the next move. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily and four-hour charts and explains where the uptrend stays intact and what would signal it is breaking.
XAG/USD – Turns higher after hitting extreme area
