Philippines Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
Market narrative
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Philippines Gold price today: Gold falls, according to FXStreet data
Forex
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
AUD/JPY Price Forecast: Weakens to near 112.50, but uptrend remains constructive
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold struggles to lure buyers as Hormuz risks and Fed hike bets counter softer USD
Gold and silver have lost the momentum generated by their recent rebounds, but sellers have yet to secure the decisive breakdown they are looking for. Gold's recovery stalled at 4202.87, while silver turned lower after reaching 63.25.
EUR/JPY Price Forecast: Tests symmetrical triangle top above 185.50
Silver Price Forecast: XAG/USD rebounds above $58.00 despite inflation fears
PBOC sets USD/CNY reference rate at 6.8036 vs. 6.8077 previous
Spot Gold (XAUUSD) continues to exhibit an incomplete bearish sequence from the January 29 peak, with potential downside extending toward the $3400 area. The decline from the April 17 peak is unfolding as a double three Elliott Wave structure.
The US has resumed strikes on Iran after attacks on commercial shipping transiting the Strait of Hormuz, raising the prospect that markets may once again have to price the risk of prolonged disruption to one of the world's most important energy chokepoints.
Gold declines below $4,100 as US–Iran tensions revive inflation worries, Fed rate hike bets
At the end of June, I outlined the potential for gold to bounce from the $4,000 level. While there was, of course, the obligatory noise around that key support, bulls eventually gained some traction, with gold rising 6.6% from last week's low to Friday's high.
Gold remains under pressure after another rejection at key resistance, reinforcing the bearish trend structure and increasing the likelihood of another test of lower support.
The EUR/JPY is in a consolidation, albeit with uptrend bias, as the interest yield differential between the Euro and the Yen holds firm.
Silver prices tumbled as surging oil and hawkish Fed minutes lifted yields and the dollar. See the key support levels and updated silver outlook.
USD/CHF Price Forecast: False breakout at 0.8100 triggers pullback
EUR/USD Price Forecast: Bears retain control within descending channel