All Articles Tagged - gold

Technical Analysis – Gold turns overbought near former key resistance

Posted on June 10, 2019 at 8:30 am GMT

Gold recorded its best weekly performance so far this year, topping near a former key resistance of 1,346 on Friday. The RSI and the Stochastics, however, indicated that the bulls are exhausted as the measures peaked in overbought territory – letting the bears take over on Monday. Yet, with the 20-day simple moving average (SMA) increasing its distance above the 50-day SMA, the positive market trend may likely extend forward in the short-term. Should the market close comfortably below the 1,320 level, the bearish action may extend towards the upper surface of the Ichimoku cloud and the 23.6% [..]

Daily Market Comment – Dollar see-saws on mixed data, trade risks; euro steady ahead of ECB

Posted on June 6, 2019 at 8:24 am GMT

US dollar stabilizes after roller-coaster session amid mixed data and little progress in US-Mexico talks Euro eases from 7-week highs as ECB meeting eyed for direction Oil plunges on rising stocks, global growth jitters but gold soars Fragile risk sentiment as hopes of Mexico deal fade Markets were mostly in a risk-averse mood on Thursday as hopes of a quick deal between the United States and Mexico over illegal migration were dashed after President Trump tweeted yesterday that “not nearly [..]

Daily Market Comment – Dollar extends slide as Fed rate cut bets intensify; Powell speech eyed

Posted on June 4, 2019 at 8:16 am GMT

US dollar continues to nosedive as Treasury yields touch fresh lows on rising rate cut expectations RBA cuts rates but Australian dollar defiant as it climbs to 3-week high Tech stocks tumble as US giants, including Facebook and Apple, face antitrust probe Dollar sell-off shows no sign of abating The US currency is headed for its third straight day of sharp losses against a basket of currencies as traders continue to price in an increasing probability that the Federal Reserve [..]

Technical Analysis – Gold advances considerably towards 2-month high

Posted on June 3, 2019 at 9:41 am GMT

Gold prices have been in a flying mode over the last couple of days, hitting a new two-month high around 1,315. The yellow metal jumped above the Ichimoku cloud and the 23.6% Fibonacci retracement level of the upleg from 1,160 to 1,346.61, near 1,302 as well as above the 1,310 barrier. The RSI and the stochastic oscillator signal that room for improvement is limited as the former is approaching the 70 overbought mark and the latter is rising above the 80 level in the daily timeframe. Yet the [..]

Daily Market Comment – Yen shines bright as Trump slaps tariffs on Mexico

Posted on May 31, 2019 at 7:47 am GMT

Risk aversion engulfs markets after US unleashes more trade havoc Dollar holds its ground even as Fed easing bets grow further US PCE inflation, German preliminary CPIs, and Canadian GDP due today Yen soars, loonie & peso crumble as Trump fires another tariff salvo Following a relatively calm session yesterday, risk aversion returned with a vengeance early on Friday, after the US President announced new tariffs overnight. All goods coming to the US from Mexico after June 10 will be [..]

Technical Analysis – Gold finds obstacle near 1,287; indicator suggest bearish bias

Posted on May 27, 2019 at 8:46 am GMT

Gold prices had another touch of the 1,287 resistance level today, remaining above the 23.6% Fibonacci retracement level of the descending movement from 1,346.60 to 1,266 near 1,285 and is standing within the Ichimoku cloud in the 4-hour chart. The RSI and the stochastic oscillator signal that the next move in the price is more likely to be on the downside as the former is negatively sloped above its 50 neutral mark and the latter continues to weaken slowly in the overbought zone, recording [..]

Technical Analysis – Gold eyes key support around 1,266

Posted on May 20, 2019 at 8:18 am GMT

Gold made another lower high last week after finding resistance at 1,303. The market action is currently taking place at the bottom of the symmetrical triangle and both the RSI and the MACD signal that the next move in the price is more likely to be on the downside as the former is negatively sloped below its 50 neutral mark and the latter continues to weaken slowly towards its red signal line. While a cross under the triangle (1,274) could be discouraging, a decisive close under the previous low of [..]

European Open Preview – Stocks bounce back as Trump downplays China tensions but weak data weigh on aussie

Posted on May 15, 2019 at 8:16 am GMT

Trade worries continue to ease after Trump calls latest escalation “a little squabble” Equities attempt a rebound on the back of the improving risk appetite But aussie and yuan held back from disappointing Chinese data Risk appetite recovers on Trump’s “little squabble” comments The US president, Donald Trump, sought to play down the latest spat with China on Tuesday, telling reporters “We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades”. Trump also [..]

European Open Preview – Markets steadier after Trump’s comments; gold eases from highs

Posted on May 14, 2019 at 8:51 am GMT

China retaliates by raising its own tariffs against US products, throwing markets into turmoil But some optimism returns to markets after Trump says he thinks trade talks will “be very successful” Gold softer after surging on Monday, stocks sell-off eases Volatility eases as Trump keeps trade deal hopes alive After a day of turmoil in financial markets, things got off to a steadier start on Tuesday with the help of some upbeat comments by US President Trump. Global equities plunged [..]

Technical Analysis – Gold builds base below 1290; neutral in short-term

Posted on May 13, 2019 at 8:38 am GMT

Gold prices have been developing within a consolidation area over the last month, with upper boundary the 1290 resistance level and lower boundary the 1266 barrier. Currently, the price hovers beneath the 23.6% Fibonacci retracement level of the downleg from 1346.60 to 1266, around 1285 as well as between the 20- and 40-simple moving averages (SMAs). From the technical point of view, in the 4-hour chart the stochastic oscillator is turning lower, while the RSI and the MACD are pointing down below 50 and the [..]

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