gold

Daily Market Comment – Risk sentiment stabilizes as virus worries calm, but caution lingers

Posted on January 28, 2020 at 9:51 am GMT

Wall Street futures signal a rebound, even without any ‘good news’ However, pockets of stress still evident in the market Japanese stocks decline further, aussie and kiwi can’t get off the floor Today: US durable goods, earnings bonanza begins with Apple Risk aversion takes a breather as virus nerves calm, for now The virus-related uncertainty that plagued global markets in recent days started to abate on Tuesday, with the safe-haven Japanese yen unable to extend its recent gains and futures [..]

Daily Market Comment – Safe havens climb, stocks slide as virus fears deepen

Posted on January 27, 2020 at 10:33 am GMT

Worries that new virus is turning into an epidemic push yen and gold higher Stocks fall alongside oil prices as investors reassess potential economic hit Question now is how long this havoc will last, and whether it gets worse from here Risk sentiment takes a hit as virus death toll soars Risk aversion is the name of the game in global markets on Monday, as investors grapple with concerns about how rapidly the deadly coronavirus is spreading and its potential [..]

Technical Analysis – Gold eyes tops as momentum picks up

Posted on January 27, 2020 at 9:45 am GMT

Gold today gapped up and seems to be taking a breather around the 1,575 level, which is the 23.6% Fibonacci retracement of the up leg from 1,458.42 to 1,611.28 after bouncing off the joined 50- and 100-period simple moving averages (SMAs). This view is also reflected in the Ichimoku lines, which are currently flat. The short-term oscillators suggest a pause in momentum but lean towards the positive picture. The MACD is rising above its red trigger line in the positive [..]

Daily Market Comment – Dollar grinds higher, Wall Street hits new records

Posted on January 20, 2020 at 9:43 am GMT

Greenback outperforms as incoming data reaffirm strength of US economy Pound crumbles after soft retail sales enhance case for a BoE rate cut next week Bank of Japan rate decision coming up; supply disruptions boost oil Solid US data lift dollar, catapult US stocks to fresh records The dollar was the star performer in the FX market on Friday, advancing across the board after the latest batch of US data beat forecasts, feeding the narrative that the American economy continues [..]

Technical Analysis – Gold bulls could stay in charge within January’s range

Posted on January 20, 2020 at 8:10 am GMT

Gold came under pressure following the peak at a 7-year high of 1,611 but the 1,535 level rejected the downside move, sending the price slightly up. The upside reversal in the RSI and the rebound in the Stochastics suggest that there is still some room for improvement in the short-term, though with the MACD having recently reached a peak and eased its momentum below the red signal line, the price could probably gain ground only within this month’s range. Heading higher, the price could [..]

After an impressive New-Year rally, what does 2020 hold for gold? – Special Report

Posted on January 15, 2020 at 3:30 pm GMT

Gold has been on a tear lately, reaching heights not scaled since 2013 to temporarily breach the $1600 an ounce level. However, with risk appetite also riding high on the back of easing trade frictions, and US and Iranian tensions appearing to have been defused for now, what is keeping the popular safe haven at such elevated levels and can the rally be sustained in 2020? Trade war and central bank easing have been positive for gold The price [..]

Daily Market Comment – Dollar hits 110 yen after US removes China as currency manipulator

Posted on January 14, 2020 at 9:18 am GMT

US removes currency manipulator label from China ahead of signing of trade deal Yuan surges, yen slides as risk-on theme continues Wall Street hits another record as earnings season gets into full gear US-China tensions thaw further ahead of trade deal signing Relations between the United States and China got a boost on Monday after the US Treasury Department decided to no longer designate China as a currency manipulator. The announcement, which comes just two days before the two countries [..]

Daily Market Comment – Risk assets remain well bid ahead of signing of trade deal; pound slips on rate cut speculation

Posted on January 13, 2020 at 9:33 am GMT

Risk assets start week on positive note, driven by optimism of ‘phase one’ trade deal being signed on Wednesday Risk-on sentiment, along with easing Iranian tensions, weigh on safe havens; gold and yen slide Pound under pressure as more BoE policymakers join the rate cut bandwagon Trade deal optimism continues to set market tone The week got off to an upbeat start as investors set their sights on the imminent signing of the US-China trade pact on Wednesday, which is [..]

Technical Analysis – Gold retreats within Ichimoku cloud; bears take control in near term

Posted on January 13, 2020 at 7:32 am GMT

Gold has declined considerably over the last couple of trading days after the touch on the almost seven-year peak of 1,611 on January 8. The price entered the Ichimoku cloud and is capped by the bearish crossover within the short-term 20- and 40-period simple moving averages (SMAs), assuming a negative correction. The technical indicators in the 4-hour chart seem to be neutral to bearish. The RSI indicator has just dropped beneath the 50 level with nearly flat momentum, while the [..]

Technical Analysis – Gold returns lower after surpassing 1,600 in near term

Posted on January 8, 2020 at 1:10 pm GMT

Gold looks to be overbought as it returns the significant gains that it posted in the preceding days. Earlier today, the price jumped to a fresh almost seven-year high of 1,611. The technical indicators seem to be overstretched in the 4-hour chart. The RSI slipped below the oversold area and the 70 level and continues to slope down, while the MACD fell beneath the trigger line but is still moving in the positive zone. Both are indicating a possible downside [..]

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