All Articles Tagged - gold

Technical Analysis – Gold leans to the bearish side again; 200-day SMA in focus

Posted on January 11, 2021 at 8:58 am GMT

Gold came under severe selling pressure on Friday, slumping below a steep ascending trendline and back into the descending channel. The sharp-sell off saw another extension towards a six-week low of 1,817 early on Monday, but the precious metal managed to recoup its intraday losses and climb back above its 200-day simple moving average (SMA) and to the 1,850 level. From a technical perspective, the bears could dominate in the short run as the recent decline in the price drove [..]

Daily Market Comment – Biden floats new stimulus bill, US jobs report coming up

Posted on January 8, 2021 at 9:30 am GMT

Equity party continues to rage amid whispers of $3 trillion infrastructure bill Yen and gold suffer as global bond yields climb Dollar extends rebound ahead of nonfarm payrolls – an asymmetric event? Stock market freight train keeps on rolling Global markets remain in an ecstatic mood, with US equities powering to new record highs and defensive plays falling apart, as expectations for gargantuan stimulus packages in America continue to be baked in. The Democrats taking full control of Congress has [..]

Daily Market Comment – Stocks power higher as Democrats take Senate, despite chaos on Capitol Hill

Posted on January 7, 2021 at 9:51 am GMT

Equities hit new record highs as Democrats take full control of Congress But havoc on Capitol Hill keeps animal spirits in check Dollar kept alive by spike in real yields, gold not as fortunate Overall, Congress and Fed working together implies rosy outlook for riskier assets Markets rally as stimulus hopes overpower social unrest The Democratic party has officially taken full control of Congress after winning both Senate seats from Georgia, setting the stage for bigger spending packages to bolster [..]

Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 9:51 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

Technical Analysis – Gold welcomes the new year with bullish fireworks

Posted on January 4, 2021 at 8:47 am GMT

Gold kicked off the new year spectacularly, opening with a positive gap on Monday and up by more than 1.0% to finally pierce the 1,900 level. More interestingly, the price has jumped above the four-month old descending channel and flew beyond the Ichimoku Cloud, bringing the bulls back into play. The momentum indicators are also reflecting the growing buying appetite in the market as the RSI is printing new highs above its 50 neutral mark and the MACD is rising at a stronger pace above its [..]

Daily Market Comment – Global markets set to end chaotic 2020 on optimistic note

Posted on December 31, 2020 at 9:22 am GMT

As a year of absolute chaos concludes, investors look ahead into a calmer 2021 Dollar nurses recent losses, stocks retreat a shade from record highs Aussie and kiwi capitalize on softer dollar and cheerful mood, power higher Gold approaches upper end of recent trading range as real yields drop Happy end to a wild year There is a feeling of sanguinity coursing through global markets as a year of absolute chaos finally draws to an end. Most stock markets suffered [..]

Technical Analysis – Gold in a narrow trading range after Senate’s stimulus vote delay

Posted on December 30, 2020 at 10:39 am GMT

Gold is in a tight range around the 1,880 level in the four-hour chart, stubbornly refusing to dip inside the Ichimoku cloud and below the tough ascending trendline, which has been strictly supporting the market since the end of November. The odds for an exciting rebound are looking minimal as the RSI and the MACD continue to hold muted around their neutral levels, supporting the current sideways move in the price. The 61.8% Fibonacci of the 1,965 – 1,764 downfall at 1,888 [..]

Daily Market Comment – Dollar can’t get off the floor as focus turns to Georgia

Posted on December 30, 2020 at 9:40 am GMT

Dollar hits fresh lows, stocks near record highs despite US Senate blocking $2000 checks Thin liquidity, or markets calculating what this implies for Georgia runoffs? Elsewhere, most assets are in a cheerful mood, but quiet overall 2020 was all about the stimulus game With the Brexit crusade out of the way, the US stimulus deal wrapped up, and the global vaccine rollout well underway, financial markets are about to end an incredibly chaotic year on a surprisingly optimistic note. The [..]

Daily Market Comment – Stocks cheer Trump’s stimulus U-turn; pound muted after ‘thin’ Brexit deal

Posted on December 28, 2020 at 9:40 am GMT

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin’ Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after President Trump unexpectedly signed into law the Covid-19 relief and funding bill late on Sunday after repeatedly refusing to do so. The $2.3 trillion package, which includes a fresh round [..]

Technical Analysis – Gold clashes with hardened upside boundary

Posted on December 28, 2020 at 9:12 am GMT

Gold is in the process of confronting a fortified resistance zone from 1,896-1,907. This reinforced region comprises of highs, the 100-day simple moving average (SMA), the Ichimoku cloud and the overlapping descending trend line pulled from the all-time high. The horizontal blue Kijun-sen line and the mild downward slopes of the 50- and 100-day SMAs are promoting a more neutral-to-bearish picture. However, the bullish tone in the rising red Tenkan-sen line and the hiking 200-day SMA, as well as the [..]

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