All Articles Tagged - gold

Technical Analysis – Gold moves horizontally in near term

Posted on January 17, 2024 at 8:24 am GMT

Will gold extend its negative wave below 2,013? Holds beneath SMAs and Ichimoku cloud Technical oscillators suggest bullish correction Gold prices have been posting a negative wave over the last two days in the 4-hour chart, holding beneath the Ichimoku cloud and the short-term moving average lines. The 2,013 level is significant for traders as it failed several times in the past to have a closing session beneath it. So, any movements lower could endorse the bearish bias. Technically, the [..]

Volatility Report – January 16, 2024

Posted on January 16, 2024 at 8:15 am GMT

Volatility crashed across the FX spectrum including EUR/USD and JPY crosses Gold and Silver volatility drops; oil and Bitcoin set for sizeable moves Stock indices in turbulent waters, JP225 volatility records a new monthly high The recent range-trading in EUR/USD has caused the expected volatility to drop to the lowest level of the past month, despite some key data releases. This expectation for small price movements going forward is also depicted in the remaining currencies covered in this report and predominantly [..]

Technical Analysis – Gold edges higher after hitting 50-day SMA

Posted on January 15, 2024 at 9:18 am GMT

Gold finds its feet at the 50-day SMA Clocks a positive session but does not yet erase recent drop Momentum indicators suggest that positive momentum is strengthening Gold had been undergoing a downside correction after attempting to break above an upward sloping trendline drawn from its October lows. However, the price bounced off its 50-day simple moving average (SMA) and recouped some losses, with the short-term oscillators suggesting improving positive bias. Should the bulls attempt to push the price even higher, the [..]

Market Comment – Global markets go nowhere despite US inflation surprise

Posted on January 12, 2024 at 10:01 am GMT

US inflation surprises to the upside, but markets shrug it off Dollar and stocks close unchanged as Fed narrative remains intact Oil and gold spike higher as US and UK launch airstrikes on Yemen Traders dismiss US inflation surprise Global markets went on a rollercoaster ride on Thursday after the US inflation report, but ultimately ended exactly where they started. Inflation as measured by the consumer price index came in hotter than expected in December, clocking in at 3.4% on [..]

Technical Analysis – Gold keeps negative to neutral bias in near term

Posted on January 11, 2024 at 9:25 am GMT

Gold finds resistance at 200-period SMA MACD and RSI weaken Gold prices are moving within a narrow range, with upper boundary the 2,042 resistance level and lower boundary the 2,017 support in the 4-hour chart. The price is currently developing below the 200-period simple moving average (SMA) and is also finding support at the 20-period SMA. Technically, the RSI is heading south after the bounce off the 50 level; however, the MACD is showing some signals for an upside movement [..]

Market Comment – Stock markets flirt with record highs

Posted on January 9, 2024 at 9:58 am GMT

Stocks back near record highs as ‘tech fever’ grips investors Oil and gold prices lick their wounds after recent declines British pound and Japanese yen outperform in quiet FX trading Wall Street resumes rally Stock markets staged a ferocious rally on Monday, with the S&P 500 nearly erasing all of last week’s decline to approach its record highs once again. At the tip of the spear was Nvidia, which surged 6.4% to hit its highest levels ever after the chipmaker [..]

Volatility Report – January 9, 2024

Posted on January 9, 2024 at 9:21 am GMT

EUR/USD and GBP/USD volatility picks up, JPY crosses seem quiet Gold and Silver volatility inches lower, oil and Bitcoin set for big moves US indices in calm waters; DAX and JP225 volatility at monthly highs EUR/USD expected volatility remains high after a market moving NFP report and ahead of the US CPI data on Thursday. On the flip side, yen crosses are expected to experience very low volatility going forward. In commodities, gold and silver implied volatility has fallen substantially [..]

Market Comment – Dollar and equities in limbo after mixed US data

Posted on January 8, 2024 at 10:25 am GMT

Dollar struggles for direction after contradicting data releases Oil prices drop on Saudi price cuts, gold prices drift lower too Chinese shadow bank files for bankruptcy, reviving contagion fears Dollar caught in the middle A mixed batch of economic data releases left the US dollar and equity markets without a clear direction on Friday. On the bright side, the US employment report for December exceeded expectations, with nonfarm payrolls beating forecasts and wage growth coming in hotter than anticipated. However, [..]

Technical Analysis – Gold meets uptrend line in negative mode

Posted on January 8, 2024 at 8:14 am GMT

Gold eases beneath 20-day SMA MACD and stochastic indicate more losses Gold is challenging the medium-term ascending trend line near 2,030 after the sell-off that started from 2,088. The crucial support level for traders to have in mind is the 38.2% Fibonacci retracement of the upward wave from 1,810 to 2,145 at 2,016, where the yellow metal may create a rebound to continue the bullish trend. Momentum indicators are pointing to a neutral to negative bias in the short term [..]

Market Comment – New Year selloff eases despite Fed ambiguity, dollar falls back

Posted on January 4, 2024 at 10:25 am GMT

Fed minutes dent hopes of early rate cut but markets perk up anyway Higher services PMIs lift sentiment in Europe and Asia, boosting US futures too Dollar rebound pauses for breath, oil jumps on supply concerns Fed rate cut bets little changed after December minutes Markets wavered after the Fed published the minutes of its December policy meeting on Wednesday as investors weighed the prospect of rate cuts amid mixed signals from policymakers. The minutes gave no indication that rate [..]

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