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Gold prices soared to a new all-time high, with the troy ounce surpassing 2614 USD. This surge is primarily driven by expectations of additional interest rate cuts and ongoing geopolitical tensions, which enhance gold’s appeal as a safe-haven asset. Following the US Federal Reserve’s decision last week to reduce its interest rate by 50 basis […]

The post Gold Reaches New Record as Investors Eye Further Rate Cuts appeared first on Action Forex.

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16/09/2024

Gold Flies to Fresh All-Time High Near 2,600

Gold posts bullish days Prices find support at 20-day SMA MACD and RSI in positive areas Gold prices are skyrocketing to another fresh all-time high today around 2,589.40 with the next major obstacle coming from the 2,600 round number. The price has recorded an aggressive buying interest over the last couple of days after the […]
26/04/2024

U.S. Consumer Spending and Income Rise in March, Inflation Holds Steady 

Personal income grew 0.5% month-on-month (m/m) in March, an increase relative to February’s 0.3% gain and in line with market expectations. Accounting for inflation and taxes, real personal disposable income rose 0.2% in March, a recovery from the -0.1% decline in February. Personal consumption expenditures rose by 0.8% m/m for a second consecutive month, above […]
19/03/2024

Is Upside Corrective Phase in AUDCAD Over?

AUDCAD briefly breaks below upside support line Oscillators suggest that momentum is turning bearish For the outlook to brighten, a recovery above 0.8945 may be needed AUDCAD entered a sliding mode on March 12, after hitting resistance at 0.8945, slightly above the 61.8% Fibonacci retracement level of the December 18 – February 8 decline. Today, […]