All Articles Tagged - gold

Technical Analysis – Gold struggles to jump above 2,400

Posted on April 17, 2024 at 9:24 am GMT

Gold finds support at mid-level of Bollinger band Technical oscillators remain in positive territory Gold prices are finding strong obstacles to surpass the 2,400 resistance level despite the spike towards the record peak of 2,431.48 in the preceding week. The price is still standing at the upper half boundary of the Bollinger band and the technical oscillators are indicating more gains. The MACD oscillator is trying to move above its trigger line in the positive territory, while the RSI is [..]

Market Comment – Stocks slide, dollar soars as rate cut bets take another hit

Posted on April 16, 2024 at 8:50 am GMT

Surging US retail sales dampen Fed rate cut expectations Wall Street sinks, dollar scales fresh highs as yields jump China GDP beat offers only tepid support as March data disappoints Yen continues to tumble, risk of intervention grows The problem with a hot economy As markets awaited Israel’s response to Iran’s missile and drone assault over the weekend, Fed rate cut expectations took centre stage again. Specifically, it is the latest narrative of US exceptionalism that is unsettling markets as [..]

What’s next for markets amid Israel-Iran tensions? – Special Report

Posted on April 16, 2024 at 8:22 am GMT

Iran launches strikes against Israel, but markets don’t panic Traders seem hopeful this won’t escalate into full-blown war How Israel responds will be crucial for risky assets and oil prices Political theater? Tensions in the Middle East reached boiling point over the weekend after Iran launched drone and missile strikes against Israel, in retaliation to an Israeli attack on an Iranian diplomatic consulate in Syria earlier this month. With the help of US forces, Israeli defense systems managed to [..]

Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch

Posted on April 16, 2024 at 8:02 am GMT

Volatility remains extremely high across the FX spectrum Commodities volatility reaches new highs; Bitcoin poised for smaller moves Equities volatility is off the charts led by the S&P 500 and DAX 40 indices Volatility in EUR/USD remains very high as the pair recorded a decent weekly drop following the stronger US CPI data. Geopolitical events have also played a crucial role in pushing volatility higher in the remaining currencies, including the yen crosses, with the market now looking for bigger [..]

Market Comment – Iranian attacks put markets on edge, but fallout limited

Posted on April 15, 2024 at 8:42 am GMT

Markets steady after Israel and allies intercept Iranian missiles and drones Hopes of no further escalation in conflict lift equities, oil slips But gold and dollar hold near highs Yen at fresh 34-year lows ahead of US retail sales Markets brush off Middle East escalation Iran’s unprecedented attack on Israel over the weekend was met with an unusual calm in the markets on Monday as investors downplayed the risk of an Israeli counteroffensive. Warnings that a response by Tehran to [..]

Technical Analysis – Gold in a wait-and-see mode

Posted on April 15, 2024 at 8:26 am GMT

Gold opens near Friday’s closing price as safe-haven demand stabilizes Bulls wait for a break above 2,430; Bears anticipate a drop below 2,325 It was a harsh weekend, as Iran’s retaliatory missile and drone attack against Israel sparked concerns of global conflict. But traders seem to have concluded this attack will not lead to further escalation for the time being, averting another record rally in the safe-haven gold. Bullion started the day steady, remaining close to the 2,350 level, [..]

Market Comment – Dollar pulls back; ECB sends clearer cut signals

Posted on April 12, 2024 at 8:05 am GMT

Dollar takes a breather, but Fed bets remain unchanged Euro suffers as ECB points to June rate cut Yen intervention warnings intensify S&P 500 and Nasdaq rebound, gold hits fresh record high Fed officials say rate cut not imminent The US dollar pulled back against most of its major peers yesterday, taking a breather following Wednesday’s CPI-related rally, perhaps as the softer-than-expected PPI numbers allowed traders to lock in some profits. Having said that though, the market’s perception about how [..]

Market Comment – Dollar and equities trade higher in anticipation of US CPI release

Posted on April 10, 2024 at 8:05 am GMT

US dollar and stocks are in the green today ahead of the key US CPI report All eyes will be on equites if CPI surprises on the upside RBNZ remains hawkish; BoC could show a dovish tilt Dollar and stocks in the green ahead of US CPI The US dollar is higher today as the market is preparing for this week’s key event. While Thursday’s ECB meeting is crucial, today’s US inflation report could determine the wider market performance until [..]

Technical Analysis – Gold attempts to unlock new high

Posted on April 10, 2024 at 7:15 am GMT

Gold holds within upper Bollinger band range MACD and RSI indicate bearish retracement Gold is attempting to test yesterday’s record high of 2,365 again with the technical oscillators holding near their overbought territories. The MACD oscillator is falling beneath its trigger line well above the zero level, while the RSI is ticking slightly lower, remaining beneath the 70 level. Also, the price is holding within the upper range of the Bollinger band. If the market extends its strong buying interest [..]

Market Comment – Gold shines bright, yen knocks on intervention door

Posted on April 9, 2024 at 8:02 am GMT

Gold prices remain near record highs – is the rally overstretched? Yen hovers at multi-decade lows, FX intervention still on the radar Dollar inches lower, stocks trade sideways, RBNZ meeting next All that glitters is gold The world’s oldest safe-haven asset has gone on a tear this year, rising more than 13% to reach consecutive new record highs, despite the negative pressure exerted by rising bond yields and a firmer US dollar. Gold has been turbocharged by purchases from central [..]

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