Here is an update on XAUUSD news today, February 15, 2024. Gold prices (XAU/USD) remained sideways below $2,000 ahead of Thursday's European session, near the previous two-month low. Bearish sentiment emerged on the back of confidence that the Federal Reserve (Fed) will raise interest rates for longer, supported by US inflation data that beat expectations on Tuesday. The U.S. dollar experienced little buying action after the decline in U.S. Treasury bond yields, but the lack of bullish confidence is still felt. Concerns about the geopolitical risks of conflict in the Middle East provide support to gold prices as a safe-haven. Traders are looking forward to US economic data and bond yield movements to get a clear direction for XAU/USD going forward.


Daily Digest of Market Movers:


  1. Higher U.S. consumer inflation strengthens the U.S. dollar and limits gains in gold prices that don't deliver yields
  2. Fed funds futures expect a rate cut in March and possible further easing at the June meeting.
  3. U.S. Treasury bond yields fell after Chicago Fed President Austan Goolsbee's comments about the need for caution in waiting to lower interest rates.
  4. Goolsbee reiterated that the Fed remains committed to achieving its 2% inflation target, even if price hikes are slightly higher in the next few months.
  5. Factors such as the greenback's decline and the risk of geopolitical tensions in the Middle East support the safe-haven XAU/USD.
  6. The Israeli military began a series of attacks in Lebanon in retaliation, increasing the risk of war with Lebanon.
  7. Ceasefire talks between Israel and Hamas in Gaza have resumed amid international pressure.
  8. The US Retail Sales figure for January is expected to fall 0.1% compared to the previous month.
  9. Thursday's U.S. economic calendar also includes the Empire State Manufacturing Index, the Philly Fed Manufacturing Index, Weekly Initial Jobless Claims data, and Industrial Production.

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