All Articles Tagged - gold

Daily Market Comment – Year end flows hit dollar, but gold can’t capitalize

Posted on December 30, 2019 at 9:21 am GMT

Greenback takes a hit in thin markets – a prelude to 2020? Gold unable to take advantage of weaker dollar and lower US yields Calendar empty, scarce liquidity still a theme No news is bad news for the US dollar News flow in financial markets remains non-existent as things wind down heading into the New Year, but that hasn’t stopped investors from cutting their exposure to the US dollar, which continues to bleed amid year-end flows. Many argue that [..]

Technical Analysis – Gold trades at overbought waters near 1,500 and key resistance

Posted on December 30, 2019 at 8:13 am GMT

Gold returned to the 1,500 territory after almost two months following the breach of the 1,490 barrier, which is the 23.6% Fibonacci of the 1,266-1,566 uptrend. The market is currently looking overbought as the RSI is flattening slightly above its 70 mark, the Stochastics are ready to complete a bearish cross above 80, and the price itself is trading around the upper Bollinger band. A downside correction could retest the 1,500 round-level, where any violation would shift attention back to [..]

Daily Market Comment – Gold and stocks march higher as dollar bleeds

Posted on December 27, 2019 at 9:21 am GMT

US equities reach new peaks, but dollar can’t stay afloat Gold shines even brighter heading into year-end Aussie and kiwi make a comeback, both scale 5-month peaks Stocks push even higher as Amazon soars, dollar retreats Financial markets remain in a holiday mood, with moves in the FX spectrum being somewhat limited in magnitude in an environment of thin liquidity and without any noteworthy news to drive the price action. The underlying theme is still an increased appetite for riskier [..]

Daily Market Comment – Wall Street hits new highs for Christmas; gold gains too

Posted on December 24, 2019 at 9:00 am GMT

Dow Jones lifted by Boeing, aussie and kiwi follow stocks higher Sterling edges lower as Brexit worries persist Gold does its own thing again – swims against the risk-on tide US stocks close at fresh records; aussie and kiwi climb as well Another day, another record close for all three major US equity indices, this time with the Dow Jones (+0.34%) leading the pack. The price-weighted index was propelled higher by some gains in Boeing (+2.9%), which has the highest [..]

Daily Market Comment – Dollar recovers some poise, stocks hit new records

Posted on December 23, 2019 at 9:21 am GMT

Solid US data propel equities higher alongside the greenback Loonie stumbles as retail sales plunge, oil prices pull back Liquidity may remain thin overall, so any piece of news – or a tweet – might shake markets Dollar rebounds in quiet markets; stock rally in full swing It was a relatively quiet session in the FX market on Friday, as things started to wind down for the holiday season and news flow was thin. The overarching theme was an increased [..]

Technical Analysis – Gold finally climbs above resistance trendline; eyes turn to 1,490

Posted on December 23, 2019 at 9:12 am GMT

Gold is reviving bullish momentum after an almost flat week, with the precious metal finally looking for a closure above the four-month old restrictive descending trendline that is part of a downward sloping channel before the Christmas and New Year’s festivities begin. The RSI and the MACD are endorsing the positive move in the price (also in the 4-hour chart) as the former is resuming its upside direction above its 50 neutral mark and the latter is trying to expand [..]

Daily Market Comment – Dollar shrugs off Trump impeachment; aussie jumps on upbeat jobs data

Posted on December 19, 2019 at 9:03 am GMT

Dollar unfazed from US House vote to impeach Trump, edges up on higher Treasury yields Aussie and kiwi bounce higher on better-than-expected domestic data; loonie also firmer Pound steadier ahead of Bank of England decision President Trump is impeached; markets don’t care President Trump became the third president in the history of the United States on Wednesday to be impeached after the House of Representatives, as expected, approved two charges against him for abuse of power and obstruction of [..]

Technical Analysis – Gold remains capped below downtrend line

Posted on December 18, 2019 at 3:21 pm GMT

Gold prices have been trending lower in recent months, posting lower highs and lower lows below a downtrend line drawn from the highs of September. The outlook therefore looks cautiously negative, with a clear break below the 1445 zone needed to refuel the bears. Short-term oscillators paint a flat picture, suggesting that the latest consolidation phase between 1490 and 1445 could continue for now. The RSI has flattened near its neutral line, while the MACD is at zero. If the [..]

Daily Market Comment – Pound storms higher as Tories win; stocks hit new records on US-China deal

Posted on December 13, 2019 at 9:30 am GMT

Cable touches $1.35 as Conservatives win majority – but mind the risks on the horizon Yen disintegrates, stocks soar as US and China reportedly reach partial trade deal ECB provides little new; US retail sales the focus today Sterling flies as Conservatives secure big majority in Parliament The British pound exploded higher overnight, after exit polls for the UK election suggested that Boris Johnson’s Conservatives would win a strong majority in Parliament, something confirmed by the official results a few [..]

US tariff decision: Art of the deal or election playbook? – Special Report

Posted on December 12, 2019 at 5:07 pm GMT

The White House is set to announce whether it will postpone the next round of tariffs on China, with President Trump tweeting moments ago that a phase one deal is “very close”. Even if this deal isn’t reached by Sunday, when the new tariffs are set to kick in, Trump is still likely to postpone them in order to keep the negotiations going. It seems very unlikely at this stage that he would pull the trigger on the new tariffs, [..]

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