All Articles Tagged - gold

Can gold climb to a new record high? – Special Report

Posted on May 14, 2024 at 2:52 pm GMT

Gold pulls back after hitting record high near $2430 Retreat remains short-lived as geopolitical risks escalate But demand from China seems to be slowing Yet, the chances for fresh advances remain elevated Geopolitics among the main drivers After hitting a record high at around $2,430 on April 12, gold entered a corrective phase due to the easing of geopolitical tensions at the time allowing investors to continue offloading safe-haven positions. However, the retreat remained short-lived, with the precious metal [..]

Higher euro/dollar volatility ahead of US CPI report – Volatility Watch

Posted on May 14, 2024 at 2:25 pm GMT

Euro/dollar enjoys strong volatility ahead of key data releases Gold and silver see higher volatility amidst muted price rally Volatility drops in US equities as risk appetite returns Euro/dollar volatility has jumped higher as the market is preparing for some key US data prints. On the flip side, volatility in yen crosses remains moderate after the recent Japanese interventions, with market participants trying to avoid further provoking the BoJ at this stage. Volatility in the commodities space remains mixed. Oil price [..]

Technical Analysis – Gold loses some ground but still bullish

Posted on May 13, 2024 at 8:29 am GMT

Gold loses momentum after reaching a two-week high Short-term risk remains skewed to the upside above 2,325 The week began with gold losing ground and giving up the gains it made on Friday when it reached a two-week high of 2,378. Technically, the bounce back above the resistance line from March and the 20-day simple moving average (EMA) feeds optimism that the latest upturn could resume as the RSI keeps fluctuating clearly above its 50 neutral mark and the price has [..]

Market Comment – Dollar slides, gold shines after soft US labor market data

Posted on May 10, 2024 at 8:23 am GMT

Dollar drops as jobless claims signal labor market is losing steam Gold and stock markets climb, capitalizing on Fed rate cut bets Sterling retreats on BoE decision, but recovers after GDP stats Softer US jobs data fuels rate cut hopes Global markets are set to close the trading week in a cheerful mood after another round of incoming US employment data pointed to an ongoing softening in the labor market, fueling hopes that the Fed might cut interest rates sooner [..]

Midweek Technical Look – EURUSD, Gold, US 500

Posted on May 9, 2024 at 9:30 am GMT

EURUSD declines further after pullback off 200-day SMA Gold moves sideways within short-term SMAs; broader outlook is still bullish US 500 loses steam but successfully surpassed SMAs [..]

Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing

Posted on May 8, 2024 at 7:49 am GMT

Fed expectations drive the market; three Fed speakers on the wires today Dollar recovers but all eyes are on the US stocks and Treasury yields The pound prepares for the BoE meeting as elections gain more airtime Yen on the back foot again; gold steady amid the Israeli ground operation Dollar recovers, equity rally stalls The US dollar has almost erased its NFP losses against the euro as the US stock indices’ rally has stalled. Dovish expectations have taken centre [..]

Technical Analysis – Gold stands above 2,300

Posted on May 8, 2024 at 7:02 am GMT

Gold retains sideways move in 4-hour chart MACD and RSI look weak Gold prices are holding near the 50-period simple moving average (SMA) and the mid-level of the Bollinger band, trading within a sideways channel of 2,277-2,332 in the 4-hour chart. According to technical oscillators, the MACD is losing momentum beneath its trigger line in the positive territory, while the RSI is ticking down, meeting the neutral threshold of 50. Both reflect the weakening momentum in the price. Upside moves are likely [..]

Technical Analysis – Gold attempts recovery to only face limitations again

Posted on May 7, 2024 at 8:17 am GMT

Gold stays trapped below 2,325 after Monday’s bounce Technical signals reflect persisting caution Gold had a positive start to the week, bouncing back above its 20-day exponential moving average (EMA), but the bullish attempt was not strong enough to drive the precious metal successfully above the constraining zone of 2,325. This is where the 23.6% Fibonacci retracement of the February-April uptrend and a former restrictive line are placed. The price seems to have reached a make-or-break point and the technical picture cannot guarantee [..]

Technical Analysis – Gold seeks safety after Tuesday’s drop

Posted on May 1, 2024 at 7:52 am GMT

Gold trends lower in the short-term picture, near oversold territory Stronger buying needed above 2,355 for a bullish outlook FOMC policy announcement due today at 18:00 GMT Gold bears took control on Tuesday, pressing the price below the resistance-turned-support trendline, which halted last week’s decline, and towards the 200-period exponential moving average (EMA) in the four-hour chart at 2,280. In the technical indicators, the RSI and the stochastic oscillator have stabilized their downfall near their previous lows within the [..]

Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch

Posted on April 30, 2024 at 9:55 am GMT

Japan’s intervention spurs volatility in yen pairs, usual action elsewhere in FX market Commodities enjoy lower volatility as geopolitical tensions subside Equities at neutral volatility levels during earnings season, Bitcoin volatility picks up Volatility in yen crosses has exploded on the back of a suspected Japanese intervention. Moreover, apart from dollar/yen, other dollar pairs are trading in the middle of their volatility range ahead of the Fed decision on Wednesday and NFP report on Friday. Volatility in the commodity space has also dropped, particularly [..]

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