Gold climbs on US‑Iran ceasefire progress as Fed rate hike bets fade

Gold climbs on US‑Iran ceasefire progress as Fed rate hike bets fade

Gold (XAU/USD) price advanced more than 1.50% on Friday amid news that Iran and the US are close to signing a deal aimed at extending the ceasefire for 60 days to allow negotiations on Iran’s nuclear program. At the time of writing, XAU/USD trades at $4,563, after bouncing off daily lows of $4,489. XAU/USD jumps […]

XAG consolidates near $75.50 as bears eye 200-day SMA

XAG consolidates near .50 as bears eye 200-day SMA

Silver (XAG/USD) price retreats 0.16% on Friday, consolidating around the $75.00-$76.00 area and is virtually unchanged, near the 50-day Simple Moving Average (SMA) at $75.70. XAG/USD Price Forecast: Technical outlook Silver looks set to extend its consolidation after breaking below the ascending channel’s support trendline and the 50-day SMA, but the white metal has reclaimed […]

The US Dollar fell as ceasefire hopes supported risk sentiment

The US Dollar fell as ceasefire hopes supported risk sentiment

The US Dollar Index (DXY) fell toward the 98.90 region on Friday as improving market sentiment linked to developments in the Middle East reduces demand for safe-haven assets. Although the latest United States (US) Core Personal Consumption Expenditures (PCE) Price Index on Thursday held steady at 3.3% YoY in April, reinforcing expectations that the Federal […]