(VIANEWS) – After the recent imbalance, the precious metal has been strongly offered by market participants on the basis of higher expectations for a Federal Reserve (Fed), jumbo rate rise in May. After failing to maintain above $2,000.00 psychological resistance, the asset has been moving south steadily since last week.

FXStret reported that the Fed is encouraging an increase in interest rates due to the consistent achievement of full employment and soaring inflation. Investors should be prepared for higher inflation in the future, as US central bank policymakers warned. The US Consumer Price Index (CPI), which stands at 8.5% in March from 7.9% for February 1981, is the highest recorded since December 1981. This has been a major blow to precious metal.

Gold (GC) is currently on bullish momentum. At 02:50 EST on Friday, 29 April, Gold (GC) is at $1,913.50 and 1.17% up since the last session’s close.

Volume

Today’s last reported volume for Gold is 40177, 99.99% below its average volume of 25544269615.29.

Gold Range

About Gold’s daily highs and lows, it’s 1.056% up from its trailing 24 hours low of $1,893.50 and 0.779% up from its trailing 24 hours high of $1,898.70.

Volatility

Gold’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.45%, a positive 0.11%, and a positive 0.86%, respectively.

Gold’s highest amplitude of average volatility was 0.75% (last week), 0.64% (last month), and 0.86% (last quarter), respectively.

Commodity Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Gold’s commodity is considered to be overbought (>=80).

Last news about Gold (GC)

  • Gold price forecast: battle lines well-mapped for xauusd ahead of key event risks – confluence detector. According to FXStreet on Tuesday, 26 April, “Nothing much has changed fundamentally for Gold Price over the past 24 hours, although bulls are seeing some temporary reprieve. “, “TheTechnical Confluences Detector shows that Gold Price is stuck in a narrow range despite the rebound, as the pivot point one-week S1 at $1,906 limits the immediate upside.”
  • Gold price forecast: xauusd floors open for more declines towards $1,850. According to FXStreet on Thursday, 28 April, “The US GDP data is unlikely to deter the Fed’s rate hike path, which is likely to keep the downbeat tone around Gold Price intact going forward.”
  • The world’s first ETP betting on both Bitcoin and gold is here. According to Bloomberg Quint on Wednesday, 27 April, “A small open-ended unit trust called Incrementum Digital & Physical Gold Fund was incorporated in Liechtenstein in 2020 and allocates investments between cryptocurrencies and gold. “

More news about Gold (GC).

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