All Articles Tagged - gold

Technical Analysis – Gold slides as downside risks intensify

Posted on February 17, 2021 at 4:17 pm GMT

Gold has pushed below the 1,785 trough from February 4 and seems to be maintaining a bearish tone, something also reflected in the falling red Tenkan-sen line. The RSI and the MACD are further feeding the downwards push as the MACD is declining below its red trigger line in the negative region, while the RSI is dipping in oversold territory. That said, the slightly flattening blue Kijun-sen line is indicating some waning in selling interest, while the stochastic oscillator is [..]

Daily Market Comment – Rising US yields resuscitate dollar, scare equities

Posted on February 17, 2021 at 9:53 am GMT

Treasury yields jump again as stimulus draws closer, inflation bets continue to rise Dollar soars against yen, crashes gold; stocks ease back but no sign of panic Oil holds firm amid US disruptions, copper surges on growth optimism Yields rise across the board but only dollar shines The yields on long-term Treasury notes have been creeping higher again as investors continue to price in a mega stimulus package in the United States. But it’s not just expectations of record debt [..]

US Open Note – Yen gets hammered; Boris looks to exit lockdown

Posted on February 15, 2021 at 2:26 pm GMT

It’s a risk-on day It’s a bright day for markets as upbeat Q4 GDP growth figures out of Japan coupled with falling global infection cases bolstered hopes that the economic recovery could gain steam in the year ahead. Following the strong bounce in Asian indices, which sent the Nikkei 225 up to 30,000 for the first time in three decades, European equities received a slice of interest too. The German DAX 30 was flirting with its recent record highs, while the Euro STOXX 600 was [..]

Technical Analysis – Gold’s crawl sideways retains negative bug below SMAs

Posted on February 15, 2021 at 9:49 am GMT

Gold although trading between 1,785 and 1,875 has been holding in a bigger buffer zone of 1,764-1,974, from the late months of the previous year. The simple moving averages (SMAs) are drawing closer together and are adopting a more horizontal bearing, which is endorsing a neutral tone in the precious metal. Yet, the commodity is exhibiting a slight preference southwards after a recent deflection off the 200-period SMA around 1,850. Furthermore, the falling Ichimoku lines are backing negative price action, [..]

US Open Note – Dollar moves south after soft CPI; euro rises above 1.21

Posted on February 10, 2021 at 2:34 pm GMT

Dollar eases after US CPI; US stocks still up The selling interest in the US dollar is continuing, with its index against a basket of currencies flirting with the fourth consecutive red day after the release of the US CPI data. The annual inflation rate remained unchanged at 1.4% for January, the same as in December and marginally below expectations of 1.5%. Month-on-month, consumer prices went up 0.3%, in line with forecasts from 0.2% before. Powell and other policymakers at the Fed have suggested that [..]

Technical Analysis – Gold’s advances tackle 100-MA and Ichimoku cloud

Posted on February 10, 2021 at 7:17 am GMT

Gold’s latest climb is simultaneously confronting the curbing Ichimoku cloud and the 100-period simple moving average (SMA) around 1,844. The Ichimoku lines are reflecting a pause in positive momentum, while the relatively horizontal SMAs are promoting a sideways market. The short-term oscillators suggest sentiment remains positively skewed. The MACD, in the positive region, is slightly above its red trigger line, while the RSI is persisting in bullish territory. Furthermore, the stochastic oscillator has shifted to positive, endorsing more price gains. [..]

Daily Market Comment – Stimulus euphoria floods global markets

Posted on February 9, 2021 at 9:24 am GMT

Stock markets conquer new heights as usual themes remain in play Dollar continues to retreat, unable to draw power from rising yields UK turns into the G10 vaccine champion, Cable breaks higher Gold gets its feet under it as inflation whispers depress real rates The party that never stops The stock market has gone on an absolute rampage. All of the major US indices continued their incredible bullish run to reach new record heights on Monday, with stimulus hopes and [..]

Technical Analysis – Gold fails to increase buying interest; holds in descending channel

Posted on February 8, 2021 at 7:33 am GMT

Gold has been holding in a bearish sloping channel over the last six months, developing beneath the simple moving averages (SMAs) and the Ichimoku cloud in the daily timeframe. Technically, the stochastic oscillator posted a bullish crossover within the %K and %D lines in the oversold zone, while the RSI is pointing up in the negative territory, indicating an upside retracement in the very short-term. However, if the price fails to jump above the 1,817 resistance, this could pull the price back towards the 1,764 [..]

Technical Analysis – Gold crashes below 1800, hits to 2-month low

Posted on February 4, 2021 at 4:06 pm GMT

Gold has accelerated its decline, tumbling below the 1800 level on Thursday for the first time in two months. The precious metal is on track for a third straight day of losses but although the momentum indicators remain overwhelmingly bearish, there is a hint of some easing in the selloff in the short term. The RSI has slipped below the 30 oversold level and continues to trend lower. However, the stochastic oscillator is indicating the possibility of a bullish crossover [..]

US Open Note – Dollar keeps heading higher; pound back to gains after BoE decision

Posted on February 4, 2021 at 1:48 pm GMT

Pound return to gains after BoE decision; Eurozone retail sales come up The key driver of the day is the Bank of England (BoE) interest rate decision. The pound jumped higher, returning above 1.3650 versus the US dollar, as the BoE left its bank rate unchanged at a record low of 0.1% and its bond-buying program unaltered during its meeting. The crucial point is that the BoE said that its actions should not be taken as a signal that negative rates are coming and that has seen a push back [..]

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