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Gold faces make-or-break week at $4,000 as Fed hawkishness fuels bearish outlook
The gold market is ending the week in a precarious position as prices cling to what has become critical support near $4,000 an ounce. The precious metal is on track to post its fourth consecutive weekly loss, its longest losing streak since August 2023. The gold market has struggled in recent months as the war in Iran significantly disrupted the global energy market, driving oil prices higher and igniting inflation fears. Those fears are quickly becoming reality after the Federal Reserve shifted from a loosening bias to a hawkish stance, signaling support for a potential rate hike by the end of the year. At the same ... (full story)
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From fxpro.news | 23 hr ago
Gold is rebounding at the end of the week after a correction in the odds of two key Fed rate hikes this year. Nevertheless, the price is falling for the fourth consecutive week. Since the second half of the week, bears have been relentlessly trying to push the price below the psychologically significant $4,000 mark but eased their grip on Friday afternoon. ...
Gold pushed higher on Friday, drawing support from a softer U.S. dollar after this week's inflation data nudged rate-hike expectations a touch lower. Yet for all of the day's firmness, bullion remains on course for its fourth consecutive weekly decline — a useful reminder that one constructive session does not reverse a trend. Spot gold rose about 1.3% to ...
The Islamic Republic of Iran shot at least four One Way Attack Drones at Ships transversing the Strait of Hormuz. One of the Drones solidly hit the upper deck of a large and very expensive Cargo Carrying Ship. Damage was done, but the Ship was able to proceed on its way. We knocked down three other Drones. Obviously, this is a foolish violation of our Ceasefire Agreement. President DONALD J. TRUMP
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- Jun 27, 5:07am | 8 hr ago Posted byFundamental Analysis72
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