All Articles Tagged - gold

Daily Market Comment – Post-election rally eases as Biden advances in swing states

Posted on November 6, 2020 at 9:59 am GMT

White House race remains too close to call but Biden win becoming more likely Equity rally cools as markets give Washington gridlock a thumbs up Dollar steadies with Treasury yields as Fed keeps policy on hold NFP up next but US election and record virus cases to stay in focus Biden inches towards victory in knife-edge election The US presidential election remains an open race as counting enters day four, though the odds appear to be moving in favour of [..]

Technical Analysis – Gold gears up within 1,900 area; bullish but overbought

Posted on November 5, 2020 at 2:48 pm GMT

Gold switched to green on Thursday, speeding up within the 1,900 area, which barely could touch in the previous day. The precious metal is currently close to breaching the bar around 1,930, though the bulls seem to be running out of fuel as the RSI is approaching a key resistance zone slightly below its 70 overbought level, making a pullback in the price possible. The Stochastics are already above 80, further backing this view. Nevertheless, should the market find new [..]

Daily Market Comment – Biden leads as Trump begins legal fight; dollar eases, stocks surge

Posted on November 5, 2020 at 9:56 am GMT

Biden edges closer to the White House but faces legal battles as Trump not giving up Markets undaunted by election stalemate, see good and bad in all outcomes Dollar near lows as Treasury yields extend slide, stocks shine in post-election rally Pound lifted by fresh BoE stimulus; less room for surprises by the Fed World holds breath in tightest election race ever Democratic nominee Joe Biden was one state away from victory early on Wednesday as counting continued across the [..]

Daily Market Comment – Dollar slips, stocks rally as world awaits next US president

Posted on November 3, 2020 at 9:57 am GMT

Few signs of market jitters on Election Day despite uncertainty about outcome Strong manufacturing data help ease virus fears, stocks bounce back Dollar retreats from highs, aussie shrugs off rate cut to turn higher Biden still in the lead, Trump talks legal action Americans go to the polls today to vote for the next president of the United States following a chaotic election campaign amidst a global pandemic. Most final polls ahead of the election put Democratic candidate Joe Biden [..]

Daily Market Comment – Upbeat China PMI lifts mood but dollar holds firm

Posted on November 2, 2020 at 9:41 am GMT

Stocks edge up as Chinese manufacturing rebound gathers pace in October But dollar maintains gains as US election and Fed meeting lurk around the corner Pound slips as England back in lockdown, aussie down ahead of RBA Calm before the storm? Equities got off to a somewhat positive start on Monday as stronger-than-expected manufacturing PMI data out of China provided investors with some respite from the doom and gloom of the pandemic. A quickening in Chinese manufacturing activity in October [..]

Technical Analysis – Gold declines further below short-term SMAs

Posted on November 2, 2020 at 8:02 am GMT

Gold prices have been in a slightly descending mode after they reached the 2,076.64 barrier in August. The price is currently holding beneath the 20- and 40-day simple moving averages (SMAs) and the Ichimoku cloud. The MACD oscillator is confirming this bearish bias as it stands beneath its trigger line, however, the RSI is pointing marginally up in the negative territory. Immediate support could come from the 1,847 level before the bears drive the yellow metal even lower towards the [..]

Technical Analysis – Gold fades below capping MAs; sideways tone remains

Posted on October 29, 2020 at 3:58 pm GMT

Gold was recently redirected downwards by its congested simple moving averages (SMAs), neutralising the gradual one-month incline from 1,848. The fairly sideways demeanour of the SMAs over the last month, endorses the commodity’s neutral tone between the boundaries of 1,845 and 1,933. The short-term oscillators convey opposing signals in directional momentum. The MACD is declining below its red trigger line in the negative region, while the downward sloping RSI is flirting with the 30 mark. The stochastic oscillator maintains a [..]

Daily Market Comment – Stocks tank, yen shines amid lockdown blues; ECB coming up

Posted on October 29, 2020 at 9:33 am GMT

Panic selling in equities as France and Germany announce new virus-fighting measures Yen and dollar surge amid the turmoil, commodity FX and gold hammered Markets have stabilized on Thursday, but the calm seems fragile Today: ECB policy decision and US third-quarter GDP Equities fall apart, haven currencies shine Global markets buckled under the weight of the new shutdowns in Europe yesterday, with the newfound uncertainty around the US election making matters worse. The straw that finally broke the camel’s back [..]

Technical Analysis – Gold in wait-and-see mode ahead of US election; bears eye 1,900

Posted on October 26, 2020 at 8:44 am GMT

Gold completed another indecisive week, maintaining a horizontal trajectory within the 1,848-1,930 area as the final countdown to the US election nears an end, the stimulus confusion remains intact, and vaccine hopes rise. The technical indicators justify the sideways move in the price, with the RSI remaining muted around its 50 neutral mark and the MACD stabilizing between its zero and signal lines. On the downside, the 1,900 level is a crucial barrier to watch, especially in the weekly chart [..]

Daily Market Comment – Stimulus deal moves closer; stocks cheer but dollar sags

Posted on October 21, 2020 at 8:58 am GMT

Talks continue on virus relief bill as Trump backs large stimulus Stocks rise but gains contained amid doubts about Republican support Dollar slumps to one-month low as euro soars, gold catches a bid too Markets anxiously await a stimulus deal Growing optimism that a bipartisan deal on a new coronavirus aid package in the United States is within reach lifted equities on Wednesday while investors dumped the safe-haven US dollar. Talks between House Speaker Nancy Pelosi and Treasury Secretary Steven [..]

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