Gold extends rally as markets await US PCE and Warsh’s Jackson Hole speech

Gold (XAU/USD) extends its advance on Monday, building on the strong rally seen last week following the US Treasury’s buyback announcement. At the time of writing, XAU/USD trades around $4,644, up nearly 0.90% on the day, at levels last seen on May 15. The Treasury’s decision to increase its liquidity-support buybacks for longer-dated government bonds […]

Momentum fades as yields stay high – MUFG

MUFG’s Lloyd Chan notes that the Dollar has extended its recent soft patch even as US Q3 GDP forecasts are upgraded to 2.5% annualized from 2.0%. Elevated fiscal deficits and long-end Treasury yields are weighing on sentiment. Speculative data still show a modest net long USD bias, but price action suggests fading Dollar upside momentum […]

XAG/USD holds bullish bias below $70.00

Silver (XAG/USD) seesaws between tepid gains and minor losses around the $69.00 mark through the Asian session on Monday. The white metal, however, remains within striking distance of a two-month high, around the $70.00 psychological mark touched on Friday, and seems poised to appreciate further. The XAG/USD holds a near-term bullish bias following last week’s […]