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Gold melts to two-month lows near $4,350 Gold remains under intense selling pressure on Thursday, slipping back below the $4,400 mark to its weakest level since late March. The renewed escalation in Middle East tensions continues to underpin the Greenback and US Treasury yields, putting additional pressure on the precious metal.
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Gold sticks to intraday losses on firmer USD, Fed hike bets Gold maintains its bid tone heading into the European session, and seems vulnerable while below the $4,580 horizontal resistance. The latest optimism remains capped amid mixed signals about a potential US-Iran peace deal, which benefits the safe-haven US Dollar.
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Olutope retweeted
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Olutope retweeted
🚨🚨🚨URGENTE 🚨🚨🚨 Donald Trump agride sexualmente o umbigo de um idoso no escritório oval, ao vivo para as câmeras
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Olutope retweeted
$ICP is inevitable.
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Gold edges higher to near $4,700 as Trump-Xi summit looms Gold price trades in positive territory near $4,700 during the early Asian session on Thursday. The precious metal edges higher as markets turn cautious ahead of the US President Donald Trump-Chinese President Xi Jinping summit in Beijing. The US April Retail Sales report will also be in the spotlight later on Thursday.
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Gold drifts lower as Iran tensions lift USD amid inflation fears.
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Olutope retweeted
This is who you're trading against.
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The XAU/USD pair is holding a clear bullish bias as it sits above the 200-period Simple Moving Average (SMA) and above the 61.8% Fibonacci retracement level of the latest upswing. Furthermore, momentum indicators remain constructive. The Relative Strength Index (RSI) at 64.24 stays in positive territory without yet being deeply overbought, while the Moving Average Convergence Divergence (MACD) (12, 26, 9) prints a positive reading near 6.13. This hints that upside momentum is still in play, albeit less aggressive than during the prior leg higher. On the downside, the 23.6% retracement at $4,703.51 has turned into immediate support, followed by the 200-period SMA at $4,665.16, with deeper retracement cushions emerging at $4,587.31 (38.2%) and $4,493.39 (50.0%) if a broader correction unfolds. On the topside, the next significant resistance appears at the swing-anchor near $4,891.35, and as long as the Gold price holds above the $4,700 area, pullbacks are likely to be viewed as corrective within the prevailing uptrend. Fundamental Overview The US Central Command said Thursday that US forces targeted Iranian military facilities responsible for launching attacks against warships transiting through the strategic waterway. Earlier, Iran accused the US of violating the ceasefire by striking multiple targets in and around the strait. However, US President Donald Trump stated that a ceasefire with Iran is still in place and added that it would be obvious if the ceasefire was over. Moreover, the US military stated that US forces do not seek escalation, undermining the USD's reserve currency status and supporting the Gold price. Meanwhile, the latest development fails to assist Crude Oil prices to capitalize on Thursday's goodish intraday move up, though the downside seems cushioned amid geopolitical uncertainties. In fact, Trump warned that US forces will hit a lot harder and more violently if Iran doesn’t sign a deal soon. Moreover, continued economic growth and inflation fears have forced investors to push back their expectations for rate cuts by the US Fed to late 2027 or early 2028. This, in turn, should limit deeper USD losses and cap the upside for the Gold as traders keenly await the US monthly employment details. The popularly known US Nonfarm Payrolls (NFP) report is due for release later during the early North American session and is expected to show that the economy added 62K new jobs in April. This would mark a significant slowdown from the previous month's reading of 178K. Meanwhile, the Unemployment Rate is forecast to hold steady at 4.3%, while Average Hourly Earnings might have risen by 3.8% YoY in April. Nevertheless, the data will further play a role in influencing expectations about the Fed's policy stance, which, in turn, will drive the USD and provide a fresh impetus to the Gold price.
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Gold swells as Middle East peace hopes hit the US Dollar Gold rises as Middle East peace hopes pressure Oil prices. Weaker US Dollar and lower Treasury yields support bullion demand. Traders eye CPI, PPI, Retail Sales and Fed speeches. 📷 📷Christian Borjon ValenciaFXStreet Gold (XAU/USD) rises some 0.75% on Friday as financial markets remain optimistic about a possible end to the Middle East conflict, which could potentially drive Oil prices lower and ease inflationary pressures. At the time of writing, the XAU/USD pair trades at $4,711 after bouncing off daily lows of $4,673. XAU/USD climbs as falling yields offset solid US payrolls Tensions in the Middle East remain high as Iran prolongs its answer to the US 14-point memorandum proposal to end the conflict. The Secretary of State, Marco Rubio, said that they’re waiting for a response, while both countries exchanged fire within the Persian Gulf, and the United Arab Emirates (UAE) was under attack. Oil prices have been swinging between extending and trimming losses, yet West Texas Intermediate (WTI) is poised to finish the week down more than 6%. Consequently, the Greenback, which has been correlating positively with WTI, is also on the back foot as the US Dollar Index (DXY), which tracks the buck’s value against a basket of six currencies, falls 0.33% to 97.93. The drop in US Treasury yields is underpinning the price of the yellow metal. The US 10-year T-note is down two basis points at 4.362%. Steller NFP data, ignored by traders US Nonfarm Payrolls in April rose by 115K, beating the 62K estimate; March's figure was revised up from 178K to 185K. The Unemployment Rate held at 4.3%, below the Fed's 4.5% annual projection, while average hourly earnings grew 3.6%, short of the 3.8% forecast. Other data showed that households in the US are becoming pessimistic, as the University of Michigan Consumer Sentiment fell to a record low in May, down from April’s 49.8 to 48.2, the all-time low. The survey found that Americans are feeling the pain of surging pump prices. The survey revealed that one-year inflation expectations fell to 4.5%, while five-year expectations declined to 3.4%. Given the solid US jobs report and inflation expectations anchoring at 4% or higher, money markets are not expecting rate cuts in 2026, according to Prime Terminal data. Source: Prime Terminal📷 Federal Reserve (Fed) officials hit the wires, with Chicago Fed President Austan Goolsbee remaining hawkish, saying that the jobs market is pretty much stable and that inflation has not been great and is going the wrong way. Conversely, Governor Stephen Miran said that it’s appropriate to cut rates. Next week, traders' eyes will be on the release of the US April inflation data, including the Consumer Price Index (CPI) and the Producer Price Index (PPI). Alongside this, Retail Sales and speeches by Federal Reserve officials would grab the headlines. XAU/USD technical outlook: Gold buyers test key resistance, eyes on $5,000 Given the fundamental backdrop, the Gold price is testing a key resistance trendline in the $4,700-$4,715 area, which, if decisively broken, could open the door to further upside. Buyers are gaining momentum as the Relative Strength Index (RSI) has cleared its 50-neutral level, turning bullish. Hence, the path of least resistance is likely tilted upwards, but a strong supply zone lies ahead of higher prices. Above, the next line of defense for bears would be the 100-day Simple Moving Average (SMA) at $4,768. If hurdled, the next resistance would be the 50-day SMA at $4,781, followed by the $4,900. Overhead lies the $5,000 milestone. On the flip side, a daily close of Gold prices below $4,700 could pave the way for a pullback, with sellers eyeing the May 4 daily and weekly low of $4,500. 📷
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Olutope retweeted
Why can women stay engaged in intimacy while men need time to recover?
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Olutope retweeted
Replying to @AshCrypto
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