Gold Price News and Forecast: XAU/USD - The narrative about Gold is changing again
|Gold drops to session low, reverses Friday's positive move
Gold extended its steady intraday decline through the early European session on Monday and is currently placed near the lower end of its daily trading range, around the $1455 region.
A combination of negative forces failed to assist the precious metal to build on the previous session's goodish positive mood to one-week tops, rather prompted some fresh selling on the first day of a new trading week.
Stronger Chinese data, surging US bond yields weigh
Positive economic data from China, showing an unexpected growth in the manufacturing activity in November, boosted the global risk sentiment and dented demand for the precious metal's perceived safe-haven status. Read more...
The Narrative About Gold is Changing Again
Let’s face it, we live in a world of radical uncertainty. Yet we’re supposed to make perfectly rational decisions – so, how do we cope with the unknown? We tell narratives, and form our decisions around them! Let’s explore the narratives in the financial markets for it reveals their importance to the gold market.
Let’s face it, we live in a world of radical uncertainty. There are not only many known unknowns in the world, but the same can’t be said of unknown unknowns. We simply do not known what we don’t know. In other words, the problem is not risk. The notion of risk implies that we can compute probability. Read more...
Gold Posts Modest Gains on Risk-Off Sentiment
The precious metal posted meager gains on Friday amid risk-off sentiment. Investors remain concerned with the US and China trade talks. This led to the equity markets falling on a shortened trading day in the US The safe-haven asset closed on Friday with 0.59% gains on the day.
XAU/USD Back at Resistance
XAU/USD saw gains that sent the prices to test the resistance level near 1462. The rebound comes as the bearish momentum is fading. But a further continuation is required for gold to maintain the current trend. If there is a strong close above 1462, we expect prices to rebound back to the 1480 region. Read more...
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