All Articles Tagged - gold

Daily Market Comment – Stocks drift, dollar holds firm amid growth, second wave worries

Posted on June 19, 2020 at 8:53 am GMT

Markets struggle for direction as persisting second wave fears weigh on sentiment US-China relations back in spotlight as Trump threatens to ‘decouple’ Pound steadier after hawkish surprise from BoE sends currency spinning lower Markets dogged by virus spike, recovery doubts Risk appetite is looking increasingly on borrowed time as stocks turn sideways, having lost momentum after last week’s sell-off. Global shares on Friday could only manage a tepid rebound from yesterday’s dip while gold headed higher amid ongoing worries about [..]

Daily Market Comment – Geopolitical tensions and virus spike dampen sentiment, but not much

Posted on June 17, 2020 at 8:51 am GMT

Rising regional tensions and a worrying increase in coronavirus cases weigh on risk assets But safe havens barely supported as growth optimism and drug hopes keep risk appetite alive Yen and gold slip, aussie bounces back from lows as stocks turn green Geopolitical tensions on the rise Clashes along the border between India and China as well as fresh provocations by North Korea over the last 24 hours raised fears of a serious flare up in regional conflicts amid a [..]

Technical Analysis – Gold in the process of head and shoulders pattern; neutral bias

Posted on June 17, 2020 at 7:18 am GMT

Gold prices have been consolidating over the last week, currently stuck in a sideways channel. Looking at the past three weeks, the yellow metal has been creating an inverse head and shoulder pattern with a significant neckline near 1,746. A successful climb above the neckline may change the recent bearish bias to bullish in the short-term. Resistance was met at around the 1,729 region, being the 61.8% Fibonacci retracement level of the down leg from 1,765 to 1,671 after prices hit the 38.2% Fibonacci, forcing the commodity to reverse [..]

Daily Market Comment – Risk-on back in play as Fed goes overkill with stimulus

Posted on June 16, 2020 at 8:28 am GMT

Sell-off cut short as markets reminded Fed not done yet with stimulus Possible $1 trillion infrastructure plan by Trump further fuels stocks But will Powell spoil the party again as softer dollar eyes Fed chief’s testimony Pound outperforms after UK and EU agree to intensify Brexit talks Second wave, what second wave? It was a dramatic turnaround for Wall Street on Monday, with all three main indices wiping out earlier sharp losses to close with solid gains, as investors brushed [..]

Daily Market Comment – Stocks slide again on second wave fears; Pound skids ahead of Brexit talks

Posted on June 15, 2020 at 8:42 am GMT

A resurgence of coronavirus cases sends stocks into a tailspin again Aussie takes a beating, yen and franc up, but gold unable to capitalize Pound extends losses as Johnson tries to kickstart stalled Brexit talks End of the risk rally? The unstoppable risk rally that’s pushed global stocks close to erasing their virus-led losses is in danger of faltering as fears of a second wave of infections intensify. Several states in America have seen a large increase in the number [..]

Technical Analysis – Gold may not expect higher highs in the near-term

Posted on June 15, 2020 at 8:01 am GMT

Gold remained trapped within a two-month old sideways move after refusing to drop into the Ichimoku cloud last week. Yet, the fact that the yellow metal is unable to print higher highs above the 1,765 peak favors the bearish side of trading, something also endorsed by the RSI and the MACD which keep trending downwards. Should the price retreat below 1,718 and the 20-day simple moving average (SMA), the bears may push harder to exit the neutral zone below the [..]

Daily Market Comment – Markets plummet as second wave fears grip investors

Posted on June 12, 2020 at 8:02 am GMT

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers might decide that Risk aversion returns with a vengeance Just when it seems that all the bears have capitulated and that stock markets can’t bleed anymore, risk sentiment falls apart [..]

Daily Market Comment – Fed walks the dovish line, but markets want more

Posted on June 11, 2020 at 8:16 am GMT

Fed commits to rock bottom rates for years, reaffirms ‘whatever it takes’ stance Dollar drops initially and stocks jump, but moves reverse as Powell doesn’t commit to yield curve control Markets in risk-averse mood overall Thursday, worrisome US virus numbers not helping Today: Eurogroup meeting on recovery fund and US jobless claims Fed says the right things, but markets left wanting As expected, the Federal Reserve took no action yesterday, signaled via its ‘dot plot’ of interest rate projections that [..]

Technical Analysis – Gold returns above 1,700; still bearish in short term

Posted on June 9, 2020 at 9:44 am GMT

Gold is extending its positive momentum following the bounce off the 1,671 support level, having surpassed the 20-period simple moving average (SMA) in the 4-hour chart. However, the structure in the short-term remains bearish despite the latest upside correction. In momentum indicators, the RSI is pointing up near its neutral threshold of 50, while the MACD oscillator has posted a bullish cross with its trigger line in the negative territory. Should gold challenge more levels to the upside, immediate resistance could come from the 40-period SMA at 1,713. Clearing this line, [..]

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:30 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

gold

XM Live Chat