All Articles Tagged - gold

Daily Market Comment – Contagion fears intensify; stocks tumble, gold surges, dollar rebounds

Posted on February 24, 2020 at 9:38 am GMT

Jump in number of infections outside China sends panic across financial markets Stocks take a large hit; gold scales fresh 7-year high amid flight to safety Dollar’s gains more restrained as Fed rate cut bets rise after weak US data Concerns mount about virus impact after spike in global cases The number of confirmed coronavirus cases outside of China continued to multiply over the weekend, sending shivers across financial markets as investors were forced to reassess their view that the [..]

Technical Analysis – Gold at fresh 7-year high; strongly bullish on virus fears

Posted on February 24, 2020 at 7:40 am GMT

Gold surged to a fresh seven-year high earlier today, hitting the 1,679.65 level and continuing the sharp upside extension, posting a gap up. The market recorded four consecutive green days and opened the door for a long-term clear positive direction, following the penetration of the previous top of 1,612 on virus fears. From a technical viewpoint, the RSI indicator is holding in the overbought territory with strong momentum, and the MACD oscillator is heading north above trigger and zero lines. [..]

Daily Market Comment – Dollar and gold shine but yen subdued as virus cases spike again

Posted on February 21, 2020 at 9:22 am GMT

Flight to safety boosts dollar and gold, yen nurses losses as new virus cases jump again Risk aversion finally reaches equity markets as global stocks stumble All eyes on flash PMIs as virus outbreak shows no sign of abating Dollar holds firm; gold hits fresh 7-year highs The risk-off mood deepened on Friday as China reported another spike in new confirmed cases of the coronavirus, most of which were in two prisons in Hubei province. But investors were also spooked [..]

Daily Market Comment – Yen slumps, dollar reigns supreme as virus fears persist

Posted on February 20, 2020 at 9:24 am GMT

Yen tumbles on virus worries as investors seek safety elsewhere; dollar surges Virus spread slows but change in counting methodology casts doubt Aussie and kiwi extend slide on growth concerns Is yen losing its safe-haven status? The Japanese yen came under attack on all fronts on Wednesday, sending the safe-haven currency plunging against all its peers, even against the beleaguered euro and pound. The biggest beneficiary of the yen sell-off was the US dollar, which scaled a near 10-month peak, [..]

Daily Market Comment – Stocks rebound as new virus cases slow; dollar stands tall

Posted on February 19, 2020 at 9:23 am GMT

Equity markets bounce back from Tuesday’s slide amid slowdown in new coronavirus cases Stimulus hopes also help sentiment but gold still tops $1600 on heightened risks Unstoppable dollar scales fresh highs even as US yield curve inverts Stocks turn green again as investors focus on positives Risk appetite recovered somewhat on Wednesday following the knock from Apple’s profit warning yesterday, which elevated concerns about the impact from the coronavirus outbreak. The number of new confirmed cases of coronavirus in China [..]

Daily Market Comment – Apple profit warning rattles markets; gold edges up

Posted on February 18, 2020 at 9:34 am GMT

Apple Inc says it will miss revenue guidance due to China plant shutdown Stocks slide as Apple warning dashes hopes of quick rebound from virus fallout Gold hits 2-week high, oil declines on growing virus impact Pound under pressure as Britain talks tough on future trade deal with EU Markets get dealt reality check by Apple profit warning US tech giant, Apple Inc, issued a rare profit warning on Monday, saying it will miss its first quarter revenue guidance as [..]

Technical Analysis – Gold bulls look exhausted near 2-week peak in very short-term

Posted on February 17, 2020 at 7:15 am GMT

Gold stretched its upside rally to a two-week high of 1,584.90 on Friday before pulling slightly lower in a bullish sloping channel in the 4-hour chart. Currently, in the near term, the price is losing some momentum confirmed by the technical indicators as the RSI is flattening near the 70 level, suggesting an overbought market. Also, the stochastic oscillator is turning lower as it posted a bearish crossover within its %K and %D lines above the 80 level, signaling a [..]

Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 9:25 am GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]

Daily Market Comment – Wall Street hits new records, but beware of the Democratic primary

Posted on February 11, 2020 at 9:21 am GMT

Fading virus fears boost equities, but New Hampshire primary today poses risks Euro pummeled as markets price out prospect of a big German spending package Fed chief Powell testifies, ECB’s Lagarde and BoE’s Carney speak RBNZ rate decision coming up – a more dovish tone seems likely Stocks climb as virus fears fade, but how long until they ‘feel the Bern’? Concerns around the economic fallout of the coronavirus seem to be fading off the market’s radar, as the rate [..]

Technical Analysis – Gold’s climb restricted by Bollinger band and 23.6% Fibonacci

Posted on February 10, 2020 at 9:42 am GMT

Gold’s gradual incline – after reversing ahead of the 1,546 low – appears to have stalled between the 50-period simple moving average (SMA) and the upper-Bollinger band residing at the 23.6% Fibonacci retracement of the up move from 1,458.42 to 1,611.28. The short-term oscillators reflect improving positive momentum. The MACD, above its red trigger line, has risen above the zero mark, while the RSI is increasing in the bullish territory. Moreover, all SMAs have kept their bullish picture intact. A [..]

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