All Articles Tagged - gold

How the markets could react to the Fed meeting – Special Report

Posted on March 20, 2024 at 4:32 pm GMT

Fed meeting coming up next; the market is in waiting mode The 10-year US Treasury yield usually reacts first to Fed decisions Gold and EURUSD could benefit from lower US yields The much talked about Fed meeting is taking place tonight at 18.00 GMT with the usual press conference held 30 minutes later. There is a growing debate about the outcome of the meeting, the overall rhetoric by Chairman Powell and the famous dot plot. There are some voices in [..]

Technical Analysis – Gold in a descending correction mode

Posted on March 20, 2024 at 7:36 am GMT

Gold creates bearish triangle after bullish rally MACD and RSI look weak Gold prices have been developing within a descending triangle in the 4-hour chart, after the rally towards the new all-time high of 2,195 on March 8. The price is posting a bearish correction with the technical oscillators indicating weak momentum. The MACD is moving horizontally beneath the zero level, while the RSI is pointing down below the 50 level. If resistance at 2,163 stands firm though, the precious metal could plummet again towards [..]

Market Comment – BoJ hikes, scraps yield curve control, but yen slumps

Posted on March 19, 2024 at 10:08 am GMT

BoJ ends negative rates and yield curve control in historic move But yen can’t catch a break as Ueda signals ongoing accommodative stance Aussie also under pressure as RBA tones down tightening bias Dollar resumes climb before Fed comes into the limelight BoJ ditches most stimulus-era policies As had been widely speculated, the Bank of Japan announced an end to eight years of negative interest rates and sharply scaled back its asset purchases after its policy meeting on Tuesday, in [..]

Technical Analysis – Gold retreats from all-time high

Posted on March 18, 2024 at 11:03 am GMT

Gold pulls back from its recent record peak Momentum indicators exit overbought conditions Gold experienced a massive surge following its profound break above the 50-day simple moving average (SMA), posting a fresh all-time high of 2,195 on March 8. However, bullion has been undergoing a minor downside correction since then as it had approached extremely overbought conditions. Should the pullback extend, the November peak of 2,142, which coincides with the 123.6% Fibonacci extension of the 2,079-1,810 downleg, could act as the first [..]

Fed decision: Will the new ‘dot plot’ boost the dollar? – Preview

Posted on March 14, 2024 at 3:22 pm GMT

Fed will announce its latest decision at 18:00 GMT Wednesday Almost certain to keep rates steady, so focus will fall on ‘dot plot’ Signals of fewer rate cuts this year could help the dollar recover Solid economy pushes back Fed cuts The US economy continues to defy expectations. Economic growth is on track to hit 2.5% this quarter, juiced by enormous government spending and solid consumer demand. Labor markets have shown some early signs of loosening lately, but remain [..]

Market Comment – US PPI and retail sales data enter the limelight

Posted on March 14, 2024 at 9:23 am GMT

After hot CPI inflation, dollar awaits PPI and retail sales data Yen on the back foot as BoJ March hike bets decrease S&P 500 and Nasdaq pull back, gold rebounds Dollar trades cautiously ahead of US data The US dollar traded lower against most of its major peers yesterday, gaining some ground only against the Swiss franc and staying virtually unchanged against the Japanese yen. Today, the greenback is trading slightly higher or unchanged. It seems that dollar traders have [..]

Market Comment – Stocks power to new records despite hot US inflation

Posted on March 13, 2024 at 9:49 am GMT

US inflation comes in hotter than expected, but markets brush it off Dollar unable to gain much, equities close at new all-time highs Gold hit by profit taking, yen soft even as BoJ speculation heats up Inflation surprise doesn’t scare markets A surprisingly hot US inflation report was not enough to frighten investors yesterday. Inflation as measured by the consumer price index clocked in at 3.2% in February, missing expectations that it would remain steady at 3.1%. It was a [..]

Technical Analysis – Gold advances again after rebound off 2,150

Posted on March 13, 2024 at 8:21 am GMT

Gold turns up after negative retracement Technical signs are mixed Gold prices rebounded off the 2,150 support level after creating a bearish correction from the strong rally towards the fresh all-time high of 2,195 on Friday in the 4-hour chart. The technical oscillators are showing some contradicting signs as the MACD is losing momentum beneath its trigger line. However, the stochastic is gaining some momentum following the bullish crossover within the %K and %D lines in the oversold territory. If the [..]

Technical Analysis – Gold advances again after rebound off 2,150

Posted on March 13, 2024 at 7:32 am GMT

Gold prices rebounded off the 2,150 support level after creating a bearish correction from the strong rally towards the fresh all-time high of 2,195 on Friday in the 4-hour chart. The technical oscillators are showing some contradicting signs as the MACD is losing momentum beneath its trigger line. However, the stochastic is gaining some momentum following the bullish crossover within the %K and %D lines in the oversold territory. If the market continues to the upside, then the market could [..]

Why are Gold and Bitcoin hitting new records together? – Special Report

Posted on March 12, 2024 at 3:34 pm GMT

Gold and Bitcoin cruise to new all-time highs simultaneously However, there are different drivers behind these rallies Overall, both assets might have more scope to run higher Gold and bitcoin go through the roof It’s pretty rare to see gold and bitcoin setting new record highs at the same time. Gold is considered the ultimate safe haven asset, while bitcoin is often viewed as one of the riskiest and most speculative plays. When both of them stage an incredible rally, [..]

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