All Articles Tagged - gold

Daily Market Comment – Dollar and yields retreat as S&P 500 smashes 4,000 level

Posted on April 2, 2021 at 8:46 am GMT

Biden’s tax increases dampen Treasury yields, dollar slips back S&P 500 hits new record above 4,000 amid recovery hopes, NFP eyed Oil likes OPEC+ plans to gradually ease supply curbs Dollar on the backfoot ahead of NFP The US dollar was struggling to hold onto to its weekly gains after falling sharply on Thursday on the back of the slide in Treasury yields. The retreat in long-dated yields comes after President Biden said his $2 trillion infrastructure plan would be [..]

US Open Note – Stocks freeze, dollar flashes green and oil stabilizes

Posted on March 31, 2021 at 1:07 pm GMT

Risk-off tone ahead of US employment data and Biden’s stimulus speech Markets today appear withdrawn and seem to be conveying a sense of calm before the storm as investors anxiously await the US ADP employment results and the details of the next stimulus from President Joe Biden. The fairly muted risk appetite in stocks has benefited the greenback, providing it with some traction after it temporarily lost its dominance, plunging from today’s high of 93.44 as the European trading session [..]

Technical Analysis – Gold fails to test 9-month low; neutral bias

Posted on March 31, 2021 at 8:30 am GMT

The gold price tried to test the nine-month low of 1,676 again, but it is returning slightly higher over the last 4-hour session. In the very-short-term, the metal has been in a strongly bearish tendency after the pullback from 1,747. The momentum indicators are confirming the recent upside move, with the stochastic posting a bullish crossover in the oversold territory, within the %K and %D lines, while the RSI is heading north below the 30 level. A jump higher could [..]

US Open Note – Stocks pull back, dollar dominates, gold melts and oil falls

Posted on March 30, 2021 at 2:10 pm GMT

Stocks dip, dollar powers up, stimulus lifts yields The king dollar seems to be quite comfortable on the throne today as a risk-off tone is taking shape in markets. The dollar index soared today to 93.20, pulling with it the swissie to 0.9425 francs per dollar and the yen to 110.38 per dollar. The rise in Treasury yields due to anticipated new fiscal stimulus has hindered stocks and boosted the dollar. Further fuel to this dollar fire transpires from positive [..]

Daily Market Comment – Dollar marches higher, yen suffers as yields jump

Posted on March 30, 2021 at 8:33 am GMT

Dollar/yen continues to ascend as Treasury yields hit new cycle highs Stock markets resilient, close near records despite looming tax risk Oil edges higher as OPEC meeting approaches, gold struggles FX market remains a prisoner of bond yields The currency market continues to dance to the beat of rising long-term interest rates. The dollar is marching higher on Tuesday, with dollar/yen overcoming the psychological 110.0 region, mirroring a similar spike in US Treasury yields. The yen usually suffers when foreign [..]

Silver unfollows Gold: where next? – Special Report

Posted on March 29, 2021 at 2:18 pm GMT

Historically, gold and silver tend to be highly correlated assets, but their strong positive relationship slightly relaxed in the first quarter of the year, making investors wonder whether this deviation could be something more than temporary in the coming years. This special report explains that although gold will remain a popular shelter for safe-haven flows, silver could be a shining opportunity during the post-pandemic period. Silver unfollows gold Metals have been a store of value for hundreds of years [..]

US Open Note – Oil recovers; US stocks and dollar ease

Posted on March 29, 2021 at 12:46 pm GMT

Oil rises after negative open The focus of the day is the modest recovery in oil, which is flirting with the $61/per barrel level, after the episode in the Suez Canal. There is no clarity yet of when traffic in the canal will restart. At least 450 ships are thought to be waiting or heading towards the waterway. Traders may next turn their attention on the OPEC+ meeting later this week when major producers are expected to keep output levels [..]

Technical Analysis – Gold tiptoes sideways as positive impetus fades

Posted on March 29, 2021 at 8:44 am GMT

Gold is currently edging sideways after its recent bounce off the critical support base of 1,660-1,682, where it produced a nine-month low of 1,676. The falling 50- and 100-day simple moving averages (SMAs) are safeguarding the short-term bearish picture and weighing on the commodities price. The flattening Ichimoku lines are suggesting positive momentum has dwindled and are promoting a minor directionless price phase. The short-term oscillators are slightly favouring the downside, as they are indicating that positive sentiment has become [..]

Technical Analysis – Gold edges sideways as momentum paralyzes

Posted on March 24, 2021 at 2:19 pm GMT

Gold has adopted a horizontal trajectory around its directionless 50- and 100-period simple moving averages (SMAs). The Ichimoku lines are also conveying the commodity’s inert demeanour and are demonstrating that directional momentum has dried up. The short-term oscillators are transmitting conflicting signals in price sentiment. The MACD has barely slid beneath its red trigger line, which has fused with the zero threshold, while the positively charged stochastic oscillator is promoting improvements in the price. The RSI is currently tackling its [..]

US Open Note – Stocks and gold steady, dollar reveals brawn, oil slips

Posted on March 23, 2021 at 2:08 pm GMT

Stocks find footing, dollar takes throne, Chair Powell eyed Stocks halted earlier Asian losses and are stabilizing somewhat, emanating subdued risk sentiment, ahead of Chair Powell’s forthcoming testimony and a number of FOMC member speeches. Markets remain manoeuvred by rising yields and COVID-19 related-barriers and worries, as the inflation narrative has taken the back seat. Nevertheless, the dollar’s attractiveness may soon elevate further, if President Biden’s administration manages to bring to fruition another $3 trillion of infrastructure spending. The dollar [..]

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