All Articles Tagged - gold

Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]

Daily Market Comment – Virus resurgence haunts stocks but dollar edges lower

Posted on June 29, 2020 at 8:30 am GMT

Markets start week in risk-off mode as virus surge halts reopening plans in the US Stocks slip, but less cautious mood in FX markets as dollar and yen pull back Pound bounces off lows as Brexit talks enter intensive phase Virus fears keep Wall Street on the back foot Worries that the world could be in the midst of a second Covid-19 outbreak continued to weigh heavily on market sentiment as the second quarter almost draws to a close. Stocks [..]

Technical Analysis – Gold trades near almost 8-year peak; still bullish

Posted on June 29, 2020 at 7:19 am GMT

Gold prices are continuing the upside movement, creating new highs and touching an almost eight-year peak at 1,779. The short-term technical indicators are neutral-to-bullish and point to a somewhat stronger market. The MACD is holding well above its zero and trigger lines, while the RSI is hovering in positive territory. The Ichimoku lines are also suggesting a bullish bias as the red Tenkan-sen line is standing above the blue Kijun-sen line and the cloud is looking for more upside movements. [..]

Daily Market Comment – Stocks jump into the green, but dollar doesn’t play along

Posted on June 26, 2020 at 8:06 am GMT

Investors ignore a litany of bad news, push stocks higher on deregulation hopes But FX retains a more cautious tone, dollar holds onto gains as US cases hit new record Texas and Florida “pause” their re-opening plans Rebalancing flows heading into quarter end could bite markets Stocks and dollar focus on different narratives The epic market battle between stimulus-driven bulls and virus-fearing bears seems set to end in a draw this week, as worries of a rapid resurgence in virus [..]

Emerging from lockdown: A V-Shaped recovery or false optimism? – Special Report

Posted on June 25, 2020 at 11:15 am GMT

Looking at how risk assets have been performing over the past three months, it’s hard to tell there’s a global pandemic going on. To put it into more context, if someone had been living on a desert island during this time, they would be forgiven for thinking that the world is in the midst of an economic boom when glancing at stock markets. But although there’s been no shortage of crisis response measures since the coronavirus outbreak erupted, how rational [..]

Technical Analysis – Gold surges to highest since 2012; bullish tendency

Posted on June 24, 2020 at 12:37 pm GMT

Gold prices skyrocketed to a fresh seven-and-a-half-year high around 1,779, breaking the neckline of the head and shoulder pattern, endorsing the bullish structure in the short-term timeframe. The positive bias is confirmed by the RSI indicator, which is pointing slightly down, suggesting a possible pullback, while the MACD is extending its ground above the trigger line above the zero line. More upside pressure could find the next resistance around the immediate multi-year high of 1,779. A successfully climb above this line could move towards [..]

Daily Market Comment – Gold flies to new highs, RBNZ talks kiwi down

Posted on June 24, 2020 at 8:10 am GMT

Dollar retreats after encouraging PMIs turbocharge euro Gold capitalizes on weaker dollar, reaches heights last seen in 2012 Stocks inch higher led by tech, despite US virus spike and rising bankruptcies RBNZ expresses discomfort with exchange rate, kiwi obliges Gold takes advantage of softer dollar Global markets continue to be torn between conflicting narratives, as signs that the world economy has entered the recovery stage – with a little help from a tsunami of stimulus – clash with a worrisome [..]

Daily Market Comment – White House sends markets spinning, European PMIs bolster euro

Posted on June 23, 2020 at 8:19 am GMT

Conflicting statements from White House on China send currencies and stocks for a wild ride But markets back to square one as dust settles, still in a good mood overall Nasdaq closes at new record as US virus cases ease back down European PMIs show France back in expansion, boost euro Navarro channels his inner China hawk, then walks it back Global markets went for a wild ride overnight, after White House trade advisor Peter Navarro – probably the administration’s [..]

Daily Market Comment – Investors grapple with the virus blues

Posted on June 22, 2020 at 8:08 am GMT

Markets struggle for direction as second wave worries intensify WHO reports record increase in global cases, Apple re-closes some US stores Gold spikes higher but FX and stocks still not overly concerned Looking ahead, the battle between stimulus-fueled optimism vs second wave concerns will drive sentiment Emotional rollercoaster continues With the correlation between FX and stock markets going through the roof in recent months as the dollar reclaimed its safe-haven throne, risk sentiment has become the dominant force in the [..]

Technical Analysis – Gold’s sideways picture remains skewed to the upside

Posted on June 22, 2020 at 7:33 am GMT

Gold is currently pushing efforts to overrun the upper Bollinger band residing at the 1,754 resistance. The mid-Bollinger band and the 50-day simple moving average (SMA) have managed to maintain optimism in a sideways market that has taken over since the 91-month peak of 1,765.03. The short-term oscillators reflect the latest boost in the price of the commodity. The MACD, in the positive region, has pushed above its red signal line, while the RSI, following a bounce at the 50 [..]

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