gold

European Open Preview – Markets retrace as trade optimism wanes

Posted on December 4, 2018 at 8:58 am GMT

Trade optimism fades as markets digest the agreement Dollar extends recent pullback Oil continues to recover amid speculation for an OPEC cut RBA slightly more upbeat, but no policy change in sight Stocks edge higher on trade relief, but optimism wanes The boost to global risk appetite following the US-China trade “ceasefire” seems to have been short-lived. Even though US stock markets closed higher, they did surrender a decent part of their gains late in the session, and futures tracking [..]

European Open Preview – Risk-on sentiment resumes as trade storm eases

Posted on December 3, 2018 at 9:37 am GMT

Stocks up, dollar down as trade fears ease French President Macron under political pressure but euro heads up Brexit risks loom in the background Oil surges as Russian President backs production cuts; Qatar to withdraw OPEC membership Stocks head higher on trade relief The US President, Donald Trump, and the Chinese leader, Xi Jinping had progressive trade talks during their dinner on the sidelines of the G20 summit on Saturday, with the world’s largest economies deciding to ceasefire the [..]

Technical Analysis – Gold advances to fresh 1-month high; indicators signal more gains

Posted on December 3, 2018 at 9:09 am GMT

Gold has advanced considerably, jumping to a fresh one-month high of 1232 earlier today. The price successfully surpassed the moving averages, which are ready to post a bullish crossover in the 4-hour chart. Furthermore, the RSI indicator is approaching overbought territory, while the MACD oscillator climbed above the trigger line, both suggesting more gains. More upside movements could send prices towards the next immediate resistance of 1236, identified by the highs on November 7, while even higher the area around [..]

European Open Preview – All eyes on the Trump-Xi meeting

Posted on November 30, 2018 at 8:41 am GMT

The Trump-Xi meeting is due tomorrow; whether a “ceasefire” is agreed may determine the near-term direction of the dollar and equities Market reaction to FOMC minutes was muted. Attention turns to a speech by NY Fed President Williams today at 1400 GMT Oil rebounds after posting fresh one-year lows, eyes next week’s OPEC meeting Trump and Xi to meet, outcome may shape risk appetite Movements in the FX market were largely subdued, with investors increasingly turning their attention to the [..]

Gold challenges upper bound of triangle as risk events loom – Commodity News

Posted on November 29, 2018 at 3:39 pm GMT

Bullion is currently testing the upper bound of a triangle pattern, with the latest leg higher fueled by a drop in the dollar after Fed chief Powell struck a cautious-perceived tone. Several risk events lie ahead, including the FOMC minutes, the Trump-Xi meeting, and potential US tariffs on cars; the way these play out may determine the yellow metal’s short-term direction. Gold continues to trade almost entirely as a mirror reflection of the US dollar, a pattern that has dominated [..]

European Open Preview – Powell sinks dollar, but mind the Fed minutes

Posted on November 29, 2018 at 8:38 am GMT

Dollar drops as Powell appears “dovish”. However, markets may have overreacted, hence today’s Fed minutes (1900 GMT) could be crucial Equities and commodity-linked currencies lifted by Powell’s remarks Pound capitalizes on dollar’s pullback and signs voters may support May’s deal Dollar drops as Powell appears “cautious”, but Fed minutes crucial Fed Chair Powell’s speech yesterday was widely perceived as dovish. The comment that grabbed most attention was that rates “remain just below the broad range of estimates that would be [..]

Technical Analysis – Gold decline stalls at the 50% Fibonacci, near oversold levels

Posted on November 28, 2018 at 11:49 am GMT

Gold bears entered the market on Tuesday, driving the precious metal to two-week lows. The 50% Fibonacci retracement level of the upleg from 1,196 to 1,230, at 1213 is currently acting as a barrier to steeper declines on the four-hour chart. The MACD though warns that bearish actions may break this wall as the indicator seems to have already started a new bearish phase below its red signal line. Yet the RSI suggests that the market is very close to its oversold area, suggesting that upside corrections cannot be [..]

European Open Preview – Greenback eyes Fed Chair Powell’s speech

Posted on November 28, 2018 at 9:06 am GMT

Dollar flirts with 1½-year highs as Fed’s Clarida “sticks to script” on hikes; remarks by Fed Chair Powell today at 1700 GMT will be key Stocks briefly slip on rumors of car tariffs but recover on Kudlow’s optimism Pound remains under pressure as political uncertainty reigns Dollar firms after Clarida’s remarks, and amid whispers of car tariffs The greenback shined bright once again on Tuesday, with the dollar index soaring to come within breathing distance of its recent 1½-year highs. [..]

European Open Preview – Dollar turns its sights to Fed speakers; pound tumbles

Posted on November 27, 2018 at 8:47 am GMT

Euro unable to sustain Italy-related gains, as ECB President Draghi struck a more cautious tone amid weakening data Dollar exploits euro’s softness, advancing nearly across the board; today all eyes will turn to a speech by Fed Vice Chair Clarida at 1330 GMT US stocks rebound, but “hawkish” Trump remarks on trade temper optimism Pound tumbles as markets digest Parliament will likely vote against Brexit deal Euro lifted by Italian optimism, but ECB drags it back down The common currency [..]

Technical Analysis – Gold neutral in very short-term; stands above uptrend line

Posted on November 26, 2018 at 9:09 am GMT

Gold has advanced above the 23.6% Fibonacci retracement level of the upward movement from 1160 to 1243, near 1223, while it currently stands above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. However, the price has held in a neutral mode over the last week, after it jumps above the 1220 barrier. Zooming to the indicators, the RSI is moving higher in the positive area as well as the stochastic oscillator is approaching the overbought zone. The next target to watch to [..]

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