All Articles Tagged - gold

Daily Market Comment – Crude oil powers higher, markets euphoric

Posted on November 25, 2020 at 9:01 am GMT

US stocks close at new records, oil roars higher, gold melts down Markets in an ecstatic mood, without any major new drivers Avalanche of US data and Fed minutes in the spotlight today Vaccine enthusiasm continues to steer the ship The party in global markets continues. Investors have thrown caution to the wind and have gone all-out in their hunt for returns, with exuberance around the post-vaccine world and an abundance of liquidity thanks to the world’s central banks powering [..]

Daily Market Comment – Dollar comeback falters, gold gets burned

Posted on November 24, 2020 at 9:58 am GMT

US PMIs show economy firing up, dollar bounces but falls back Stocks power higher, yet the Fed remains a wild card Kiwi cheers potential changes to RBNZ mandate Gold burned by a stronger greenback and higher yields Strong PMIs send ripples across markets A perfect storm of encouraging news has engulfed global markets early this week, reawakening some animal spirits. The latest AstraZeneca vaccine isn’t as effective as its counterparts but is much cheaper and easier to store, the US [..]

Technical Analysis – Gold range bound; foundation floor under pressure

Posted on November 23, 2020 at 9:49 am GMT

Gold recently has been tiptoeing around the base of a more than two-month sideways market, after plunging below the Ichimoku cloud and the 50- and 100-day simple moving averages (SMAs). The slipping 50-day SMA and the unclear bearing of the horizontal Ichimoku lines, are promoting consolidation in the yellow metal. The short-term oscillators reflect conflicting signals in directional momentum. The MACD, in the negative region, is holding below its red trigger line, while the stochastic %K line is pushing over [..]

With a vaccine on the horizon, what’s next for gold? – Special Report

Posted on November 19, 2020 at 9:58 am GMT

A combination of cheap money policies and runaway government spending propelled gold prices to new record highs earlier this year, but the metal has been trapped in a range for three months now, and the burning question is whether bullion’s best days are behind it now that a vaccine is on the radar. Maybe not. The ‘reflation’ trade could dominate next year, and central banks are unlikely to allow bond yields to move higher from here, setting the stage for [..]

Technical Analysis – Gold declines in a neutral picture in medium term

Posted on November 18, 2020 at 8:31 am GMT

Gold prices are in a declining mode after the selling move below the 1,900 psychological level on November 13. However, the technical indicators are suggesting an upside pullback in the short-term. The RSI is pointing up approaching the 50 level, while the stochastic created a bullish crossover within the %K and %D lines near the oversold zone. If the price ticks higher, immediate resistance could come from the 20-period simple moving average (SMA) at 1,887 ahead of the lower surface [..]

Biden’s Trumpism over US-China trade war – Special Report

Posted on November 17, 2020 at 4:06 pm GMT

Trump’s presidency opened several fronts of confrontation between the United States and other key global economic powers, instantly increasing volatility in the markets as traders love to trade. With Biden ready to pick up the torch now, questions are arising over whether he could raise the flag of peace and build stability. However, his recent political shift suggests that the “America first” nationalism may not be easily replaced, and some battles may not see a ceasefire soon. No majority, no control Without majority in the [..]

Technical Analysis – Gold lacks energy, trapped within a range

Posted on November 16, 2020 at 8:27 am GMT

Gold has barely recovered last week’s sharp downfall that drove the price towards September’s low of 1,848, lingering slightly below its 20- and 50-day simple moving averages (SMAs) and the Ichimoku cloud. The momentum indicators are currently painting a neutral-to-bearish picture for the short term as the RSI continues to lack direction and is marginally below its 50 neutral mark, while the MACD is also in a sideways move around its red signal line and within the negative area. A [..]

Daily Market Comment – White House steps back from stimulus negotiations

Posted on November 13, 2020 at 9:31 am GMT

Markets quiet on Friday as latest bout of risk aversion fades Equities set to end week barely higher, yen and gold much lower Investors grappling with vaccine hopes vs rising infections White House reportedly stepping back from fiscal talks It’s a battle of narratives Global markets appear trapped between conflicting drivers, with rampant optimism for a vaccine painting a brighter picture for next year but surging infections and fading prospects of powerful fiscal stimulus keeping the animal spirits in check. [..]

Daily Market Comment – Wall Street charges higher on vaccine news, but bond market ruins the party

Posted on November 10, 2020 at 9:18 am GMT

US stock market hits new record after Pfizer vaccine announcement Crude oil and commodity currencies soar, yen crumbles alongside gold However, the party doesn’t last – stocks give up most gains, dollar reverses higher RBNZ meeting coming up, vaccine and stimulus news remain in focus Pfizer vaccine news catapult markets to new records Christmas came early for investors this year, with global equities charging higher and safe havens falling apart after drug maker Pfizer announced that the coronavirus vaccine it [..]

Technical Analysis – Gold tackles consolidation’s top frontier; drive frail

Posted on November 9, 2020 at 9:11 am GMT

Gold appears shackled as it is struggling to break above the cloud’s ceiling, which coincides with the roof of the two-and-a-half-month ranging market. In spite of the dwindling 50-day simple moving average (SMA), the SMAs defend the broader dictating bullish tone. The near-term gradual fading of the 50-day SMA and the directionless Ichimoku lines promote the commodity’s neutral demeanour. The short-term oscillators maintain a positive attitude despite flimsy sentiment. The MACD is above its red trigger line and the zero [..]

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