gold

Virus update: In the eye of the storm – Special Report

Posted on March 17, 2020 at 3:48 pm GMT

With world stocks collapsing and entire economies going into lockdown, everyone is wondering how much worse this crisis can get and how long it will last. In a nutshell, the situation will probably get worse before it gets better, both in financial markets and the real economy, as most of Europe and America are still far from ‘peak virus’. Ultimately, this shock will subside and given the overwhelming stimulus measures lately, the market rebound could be meteoric. However, we might [..]

Daily Market Comment – Stocks steadier after crashing again; dollar also firmer

Posted on March 17, 2020 at 9:17 am GMT

Wall Street suffers biggest drop since 1987 crash as investors flee stocks Growing virus response still not enough to quell market turmoil Gold remains on a down path as panicky investors turn to cash Pound underperforms along with commodity and EM currencies Bloodbath on Wall Street There was no escaping the market carnage on Monday as extraordinary moves by the Federal Reserve and other central banks to restore investor confidence failed spectacularly. Shares on Wall Street plunged by the most [..]

Technical Analysis – Gold hovers above 2½-month high; bearish in near-term

Posted on March 16, 2020 at 7:46 am GMT

Gold prices are advancing somewhat after the downfall towards the two-and-a-half-month trough of 1,504.52 that was posted last Friday. The technical indicators are suggesting a bullish correction in the 4-hour chart as the RSI is rising, surpassing the oversold zone, while the stochastic posted a bullish crossover within its %K and %D lines. It is noteworthy, that the 40-period simple moving average (SMA) created a negative cross with the 100-period SMA, indicating a longer-term downtrend. If the price climbs above [..]

Daily Market Comment – King dollar reclaims throne, stocks disintegrate despite Fed bazooka

Posted on March 13, 2020 at 12:04 pm GMT

Wall Street plunges 10% as market panic intensifies, powerful Fed intervention doesn’t help Dollar outperforms amid flight to safety, gold savaged by margin calls ECB doesn’t cut rates, euro pops higher but then crumbles as Lagarde says she’s not Draghi Pandemonium worsens despite Fed restarting QE Global markets are living a nightmare. The fear that enveloped stocks evolved into full-blown panic on Thursday, with the Dow Jones falling by a staggering 10% as investors continued to liquidate everything, frightened or [..]

Daily Market Comment – Stocks tank as Trump bans flights from Europe; ECB may disappoint

Posted on March 12, 2020 at 10:10 am GMT

ECB might not cut rates today – could introduce targeted lending measures and ramp up QE Stocks plunge, oil retreats after Trump bans all travel from Europe Yen back in vogue, but gold doesn’t get the memo Dollar holds firm despite risk aversion, reclaiming safe-haven status ECB may disappoint markets today, push euro briefly higher The European Central Bank (ECB) will have a tough balancing act on its hands when it announces its policy decision at 12:45 GMT today. On [..]

Dollar crushed from market meltdown over COVID-19; can fiscal policy come to the rescue? – Special Report

Posted on March 11, 2020 at 3:25 pm GMT

As stock markets reel from the coronavirus, and investors flee to safe havens such as the yen and gold, the US dollar has turned out to be an unexpected casualty of the market turmoil. But after emergency rate cuts failed to lift sentiment, some movement on the fiscal policy front has managed to soothe investor nerves, at least temporarily, giving a small reprieve to tumbling bond yields, and in turn the greenback. Stocks suffer steepest losses since financial crisis Fears [..]

Daily Market Comment – Yen explodes higher, oil crashes as the OPEC+ wars begin

Posted on March 9, 2020 at 11:02 am GMT

Investors in panic mode as oil collapses, sending shockwaves through markets Global stocks plunge, commodity currencies flash crash, dollar in agony as markets price in more Fed cuts Japanese yen the main winner, gold briefly tops $1700, euro capitalizes Markets in mayhem as oil price war compounds virus fears It’s been a dramatic beginning to the week in financial markets, with risk aversion being the only game in town as the weekend saw the OPEC+ alliance come to an end, [..]

Technical Analysis – Gold remains bullish despite correction from peak

Posted on March 9, 2020 at 8:58 am GMT

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding just at its red trigger line in the positive zone. If the yellow metal sustains its position above the supportive trendline and the mid-Bollinger band, initial resistance could come from 1,690 ahead [..]

Technical Analysis – Gold remains optimistic despite correction from peak

Posted on March 9, 2020 at 8:24 am GMT

Gold’s pullback from a multi-year high of 1,703 found support at the mid-Bollinger band around 1657 and the very short-term supportive trendline pulled from February 28. The short-term oscillators suggest positive momentum is picking up, with the RSI improving ahead of its 50 mark and the MACD holding above its red trigger line in the positive zone. If the yellow metal sustains its position above the supportive trendline and the mid-Bollinger band, initial resistance could come from 1,690 ahead of [..]

Daily Market Comment – Dollar and stocks sink on growing virus gloom; NFP may not help much

Posted on March 6, 2020 at 9:45 am GMT

Dollar and stocks take another battering as virus fears grip markets Investors continue to flock to safety, euro a surprise beneficiary US jobs report not expected to trim Fed rate cut expectations; OPEC eyed too No reprieve for dollar sell-off The US dollar extended its losing streak on Friday, skidding to two-month lows against a basket of currencies and 6-month lows versus the safe-haven yen. Contagion fears continue to spread panic in the markets as the number of coronavirus cases [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms