All Articles Tagged - gold

Market Comment – Dollar rallies on NFP, euro slips after EU vote

Posted on June 10, 2024 at 8:11 am GMT

US nonfarm payrolls surge past expectations Dollar skyrockets as Fed rate cuts are scaled back Euro slips as Macron calls snap election in France S&P 500 pulls back after hitting new record high Strong jobs report fuels dollar’s engines The US dollar rallied against all its major counterparts on Friday and continued marching north against most of them on Monday, as Friday’s US employment report revealed that the world’s largest economy added a lot more jobs than expected in May. [..]

Technical Analysis – Gold moves sideways within Bollinger bands

Posted on June 5, 2024 at 11:12 am GMT

Gold holds in trading range of 2,315-2,355 MACD and RSI have weak momentum Gold is moving sideways in the 4-hour chart within a trading range of 2,315-2,355 where the Bollinger bands also lie. The MACD oscillator is standing beneath the zero level and the RSI is heading south below the 50 level, both suggesting weak momentum in the short-term view. Moreover, the 200-period simple moving average (SMA) is acting as a strong resistance obstacle as well. Steeper decreases could open [..]

Volatility ticks up in commodity and stock markets – Volatility Watch

Posted on June 4, 2024 at 8:54 am GMT

Forex pairs in a quiet mood despite upcoming rate decisions Volatility in oil skyrockets, gold swims in calm waters US equities exhibit volatility jump as they ease from record highs Euro/dollar and euro/pound volatilities have been in the middle of their 30-day range, even though markets are bracing for the first interest rate cut by the ECB since 2016 on its Thursday meeting. Moreover, activity in the yen remains relatively subdued as the Japanese currency has been recovering some ground from its recent multi-year [..]

Technical Analysis – Gold on a slippery slope

Posted on June 3, 2024 at 8:13 am GMT

Gold tries to enter Ichimoku cloud Prices stand in short-term sideways move Momentum oscillators lose steam Gold prices are currently capped by the 20- and the 50-day simple moving averages (SMAs), remaining within the short-term consolidation area of 2,277 and 2,431. In the near-term, the market could maintain a sideways move if the RSI keeps moving beneath 50 and the blue Kijun-sen line, hold flat. Regarding the trend, this is likely to remain on the downside as the MACD continues [..]

Technical Analysis – Gold flirts with lower Bollinger band

Posted on May 30, 2024 at 9:25 am GMT

Gold posts 3-week low around 2,322 Momentum oscillators stand below their mid-levels Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the upper Bollinger band and the 200-period simple moving average (SMA) in the 4-hour chart. The short-term technical indicators are bearish and point to more weakness in the market. Also, the commodity appears capped by the 20- and the 200-period SMAs which are flattening around the 2,350 level. The next [..]

Market Comment – Dollar rallies as market angst spreads

Posted on May 30, 2024 at 8:01 am GMT

Higher Treasury yields contribute to stock indices’ retreat Euro under pressure as the pound benefits from the election Gold fails to benefit from risk-off; oil drops ahead of OPEC meeting Dollar is on the front foot The US dollar is gaining against its main counterparts with the euro/dollar pair dropping to a 2-week low. The catalyst for this move appears to be the bond market as the 10-year US Treasury yield is hovering above 4.6% for the first time since [..]

Low volatility across the board besides Bitcoin – Volatility Watch

Posted on May 28, 2024 at 9:34 am GMT

Forex pairs in a relatively quiet mood Volatility in Bitcoin and silver skyrockets US equities enjoy low volatility despite rally to record highs Euro/dollar volatility has dropped aggressively over the past week as markets are bracing for inflation data both from the US and Eurozone this week. Similarly, volatility in yen crosses remains muted even though the Japanese currency is trading near historical lows against its major peers, while the latest downbeat inflation data out of Japan could ignite some volatility moving forward. In [..]

Technical Analysis – Will gold resume its prevailing uptrend?

Posted on May 27, 2024 at 1:24 pm GMT

Gold stabilizes after last week’s sharp slide Oscillators point to corrective phase A break of record high could challenge $2,500 For the outlook to change, a dip below $2,145 may be needed Gold stabilized on Friday and is recovering ground today, following a decent drop from its record high at around $2,450 on May 20. The precious metal remains well above the uptrend line drawn from the low of October 6 and above all three of the plotted exponential moving [..]

Market Comment – Dollar steadies, awaiting fresh catalyst

Posted on May 27, 2024 at 8:33 am GMT

US dollar stabilizes after profit-taking pullback Investors agree with Fed’s ‘higher for longer’ view Wall Street rebounds as AI remains main driver Gold gains, but remains well off its record Higher for even longer The US dollar pulled back on Friday against most of its major counterparts, perhaps as the slight downward revisions to the UoM inflation expectations for May prompted traders to lock some profits on the long positions they initiated earlier in the week. The greenback is trading [..]

Market Comment – Sentiment sours after strong US PMIs; stocks slip, dollar climbs

Posted on May 24, 2024 at 9:06 am GMT

Rate cut expectations take another hit after upbeat PMIs Dollar rises to 10-day high, Nvidia rally unable to lift Wall Street Higher for longer weighs on oil and gold Fed may not cut until after election It’s been a bad week for investors hoping to see a near-term rate cut by the Fed as expectations have been pushed out further towards the end of the year. The hawkish commentary by Fed officials on Tuesday was underscored by the FOMC minutes [..]

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