All Articles Tagged - gold

Market Comment – Stocks, dollar steady after goldilocks data as Fed awaited

Posted on January 29, 2024 at 10:31 am GMT

Stocks perky ahead of Fed decision as US data and China measures lift optimism Dollar and yields little changed after goldilocks reports, NFP eyed next Oil and gold spike on geopolitical concerns amid fresh ME tensions Markets await direction from the Fed Stocks were mixed on Monday amid a cautiously risk-on tone ahead of a very busy week for the markets that’s expected to get heated up mid-week by the Fed’s policy decision, culminating with the latest payrolls report on [..]

Technical Analysis – Gold opens week higher but not bullish yet

Posted on January 29, 2024 at 8:55 am GMT

Gold rises, but technical signals keep sentiment in balance Needs a break above bearish channel at 2,035 Gold started the week on a positive note, aiming to exit last week’s sideways trajectory above its 20-day exponential moving average (EMA) and the 2,035 trendline area after a couple of failed attempts. Although the horizontal move in the RSI and the stochastic oscillators are balancing hopes for a bullish breakout, upside pressures could stay in play if the 2,016 floor stays intact. A clear [..]

Market Comment – Euro turns to ECB decision, Tesla earnings disappoint

Posted on January 25, 2024 at 9:52 am GMT

Euro drifts ahead of ECB decision, dollar awaits US GDP data Gold retreats as solid business surveys dampen rate cut bets Tesla earnings miss estimates, Chinese stocks bounce back ECB to steer markets to summer rate cuts The spotlight will fall squarely on the European Central Bank rate decision today. Market pricing suggests the ECB will do nothing, so the action in financial markets will come mostly from the commentary by President Lagarde. Several ECB officials have tried to downplay [..]

Can rate cuts and geopolitics propel gold to fresh record highs? – Special Report

Posted on January 24, 2024 at 1:44 pm GMT

Gold’s uptrend hits a snag; 2024 characterized by consolidation phase But ingredients for a rally are still there Geopolitical risks and Fed rate cuts hold key to rekindling the bulls Scaling new heights as world goes from crisis to crisis Since 2020, the world has been stumbling from one crisis onto another, creating the perfect ground for a massive rally in gold prices. From the Covid pandemic in 2020, to the Russia-Ukraine war in 2022, to the mini-banking crisis in [..]

Technical Analysis – Gold is not out of the woods yet

Posted on January 24, 2024 at 9:31 am GMT

Gold below key barriers ahead of next week’s FOMC policy announcement Technical signals cannot promise a meaningful rally Gold has been in a tight range within the 2,016-2,030 region so far this week, struggling to find enough buyers to close successfully above its exponential moving averages (EMAs) on the four-hour chart and the broken support trendline from November. The technical indicators point to a neutral-to-bullish bias, with the RSI maintaining a sideways trajectory above its 50 neutral mark and the MACD set [..]

Volatility Report – January 23, 2024

Posted on January 23, 2024 at 10:45 am GMT

Volatility remains significantly low across the currency board Commodity markets seem quiet as well, oil exhibits more volatility than metals US indices in the middle of volatility range, JP225 and Bitcoin are rather hot The recent range-trading in most major currency pairs has caused their expected volatility to drop to relatively low levels. That said, there are several central bank meetings coming up, which could help reignite FX volatility In the commodity space, volatility of gold and silver continues its downward move despite the [..]

Market Comment – Yen rebounds as Ueda hints at policy shift

Posted on January 23, 2024 at 9:19 am GMT

BoJ stands pat as expected, lowers core CPI projection But yen rebounds on Ueda’s relatively hawkish remarks Risk sentiment improves on China’s stimulus plan S&P 500 and Dow Jones hit fresh record highs BoJ’s Ueda brings yen to life The yen was the protagonist on Tuesday, coming under some selling interest after the BoJ kept its ultra-loose policy unchanged as expected and lowered its forecasts for core inflation for the fiscal year beginning in April to 2.4% from 2.8% projected [..]

Market Comment – Yen awaits BoJ decision, stocks hit new records

Posted on January 22, 2024 at 10:01 am GMT

Stock markets reach new heights on solid US data and AI hype Risk-on sentiment keeps dollar on back foot, even as Fed cut bets fade Bank of Japan meets on Tuesday, unlikely to rescue battered yen US equities set another record Shares on Wall Street reached a new all-time high last week, as the enthusiasm surrounding artificial intelligence went into overdrive and another round of solid economic data reinforced hopes that the US economy can avoid a recession. Companies with [..]

Technical Analysis – Gold lower; tests key trendline

Posted on January 22, 2024 at 8:17 am GMT

Gold is lower again today Holds beneath short-term SMAs Momentum indicators disappoint below mid-levels Gold prices are fighting with the short-term uptrend line, which has been drawn since mid-November, and the 38.2% Fibonacci retracement level of the upward wave from 1,810 to 2,145 at 2,016. Also, the market is failing to surpass above the 20- and the 50-day simple moving averages (SMAs), indicating weak momentum. The MACD oscillator is moving lower beneath its trigger line and near the zero level, [..]

Market Comment – Strong retail sales pour more cold water on Fed rate cut hopes

Posted on January 18, 2024 at 9:08 am GMT

Dollar gains as US retail sales beat estimates Probability for Fed rate cut in March declines further Yen falls further ahead of Japan’s National CPI data Pound and euro recover some lost ground US retail sales beat forecasts, weigh on Fed rate cut bets The US dollar continued gaining against most of its counterparts on Wednesday, losing ground only versus the euro and the pound. That said, today it is pulling back, perhaps on profit-taking following its latest advance. What [..]

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