Chat with us, powered by LiveChat

Elija el país y el idioma:

Close Icon

Gold prices slip as risk sentiment rises

Home >  Daily Market Digest >  Gold prices slip as risk sentiment rises

detail_image_market
author_img

Written by:
Myrsini Giannouli

27 May 2022
Share the article

Gold prices slipped on Thursday, falling as low as $1,841 per ounce as market risk sentiment was renewed. If the price of gold decreases, support may be found at $1,782 per ounce, while resistance may be found at around 1,920 per ounce and higher up at $2,000 per ounce.

The price of gold is balanced between conflicting market forces, supported by risk aversion sentiment but pushed down by high dollar and real yields. 

The USD, which had been trading in overbought territory, has been slipping since last week. On Thursday, the dollar slipped, with the dollar index falling to the 101.7 level. Bond yields were mostly stable on Thursday, with the US 10-year treasury note yielding approximately 2.7%. Real yields compete directly with gold, which is a non-interest-bearing asset, and their rise puts pressure on the price of gold. As the dollar and US bond yields rise, competing assets, such as gold, become less appealing as an investment.

On Thursday, market risk sentiment was renewed, driving stock markets up and reducing the appeal of safe-haven assets such as gold. Even though the dollar has been the most appealing safe-haven asset to market investors for the past couple of months, it has begun to lose its strength, which supports competing assets.

High inflation rates are also known to support the price of gold, which is often used as an inflation hedge, and with global inflationary pressures increasing, the gold price is once again on the rise. Stalling global economic growth also gives rise to fears of recession, boosting the price of gold. Concerns about the state of the economy in China, after the extensive Covid lockdowns in Shanghai and other cities, also support the gold price.

XAUUSD 1hr chart

TRADE GOLD

The content provided in this material and/or any other material that this content is referred to, whether it comes from a third party or not, is for information purposes only and shall not be considered as a recommendation and/or investment advice and/or investment research and/or suggestions for performing any actions with financial products or instruments, or to participate in any particular trading strategy and cannot guarantee any profits. Past performance does not constitute a reliable indicator of future results. TopFX does not represent that the material provided here is accurate, current, or complete and therefore shouldn't be relied upon as such. This material does not take into account the reader's financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of TopFX, no reproduction or redistribution of the information provided herein is permitted.

author_img

Written by:
Myrsini Giannouli

Share the article:

Latest news

main_image_market

US economic growth boosts Dollar

Myrsini Giannouli 29 March 2024
main_image_market

Gold prices rise to a fresh all-time high

Myrsini Giannouli 29 March 2024

Oil prices gain strength on supply concerns

Myrsini Giannouli 29 March 2024

Bitcoin breaks through $70,000 barrier

Myrsini Giannouli 29 March 2024
Por qué TopFX
10-years
13+ años

presencia en el sector como proveedor de liquidez

Spreads
Spreads desde 0.0 pips

y una ejecución fiable

Segregated
Fondos de clientes

segregados

First-class
La mejor

atención al cliente

Abra su cuenta real en 3 pasos
Paso 1

Rellene el formulario
de registro y pulse en
"Crear cuenta".

Paso 2

Una vez esté en la zona segura de cliente, por favor proceda a cargar su prueba de identidad y prueba de dirección.

Paso 3

Cuando su cuenta real se apruebe, ¡puede depositar fondos y empezar a operar en la plataforma que quiera!

IMPORTANTE

El sitio web que está viendo ahora es operado por TopFX Global Ltd, una entidad regulada por la Autoridad de Servicios Financieros (FSA) de Seychelles con una Licencia de Agente de Valores No SD037 que no está establecida en la Unión Europea o regulada por una Autoridad Nacional Competente de la UE.

Si desea continuar, confirme que su decisión será por su propia iniciativa exclusiva, y que TopFX, o cualquier otra entidad dentro del Grupo no han realizado ninguna solicitud.

No volver a mostrar este mensaje

Cookies en TopFX

La página web de TopFX usa cookies para optimizar la experiencia del usuario.

Estas cookies pertenecen a las siguientes categorías: esenciales, funcionales y publicitarias. Las cookies publicitarias también pueden incluir cookies de terceros.

Administrar preferencias

Puede personalizar su selección de las cookies que desea aceptar.

  • Esenciales

    Estas cookies son necesarias para que la página web funcione correctamente y no se pueden desactivar.

  • Funcionales

    Las cookies funcionales permiten que la página web recuerde las preferencias de los usuarios y las elecciones que hagan en la página web, como el nombre de usuario, la región y el idioma.

  • Publicitarias

    Estas cookies se utilizan para rastrear a los visitantes en nuestros sitios web y mostrarle anuncios más relevantes. Las cookies de marketing también incluyen cookies de terceros de socios. Para obtener más información relacionada con la protección y recopilación de datos, consulte nuestra Política de privacidad y Divulgación de cookies.