All Articles Tagged - gold

Technical Analysis – Gold begins 2024 on a weak note

Posted on January 3, 2024 at 9:45 am GMT

Gold has a cautious start to the new year Technical signals weaken but need confirmation Gold opened the new year with mild losses after its bullish attempts to close above the May 2023 bar of 2,079 proved fruitless in the last week of December. The price is currently trading muted slightly below the 23.6% Fibonacci retracement of the previous upleg at 2,065 but there is still a ray of hope for another upturn. The RSI is still clearly above its [..]

Market Comment – Dollar starts 2024 on strong footing, Friday’s NFP eyed

Posted on January 2, 2024 at 8:59 am GMT

Dollar gains against most of its major counterparts Fed minutes and US jobs data this week’s highlights Euro awaits Eurozone’s preliminary inflation numbers Gold and oil rebound, Asian stocks open the year mixed Dollar traders lock gaze on Fed minutes and NFP data The US dollar began the first trading day of 2024 on a strong footing against its major counterparts, losing some ground only against the aussie and the pound. Following an uneventful final week of 2023, when investors [..]

Market Comment – Gold and equities shine bright in thin trading

Posted on December 28, 2023 at 10:15 am GMT

Gold closes at its highest level ever as US yields keep falling Shares on Wall Street also hit record highs, fueled by rate cut bets Dollar retreats across the board, boosting the euro and yen Gold rides higher on Fed bets Global markets continue to trade on the notion that major central banks, spearheaded by the Fed, will launch a powerful easing cycle next year. This theme has dominated trading activity in recent weeks as investors ramped up bets that [..]

Technical Analysis – Gold enjoys another rally

Posted on December 28, 2023 at 8:05 am GMT

Gold edges higher, surpasses 2,075 level Festive period fueling gold rally amidst low liquidity Momentum indicators support the current move Gold is trading higher again today, recording the fifth consecutive green candle, as the low-liquidity festive period appears to be fueling demand for the precious metal. Gold is currently around 6% higher than the December 13 trough as it managed to surpass the 2,075 level and has returned above the October 6, 2023 trendline, after spending almost 20 days below [..]

Market Comment – Dollar slips on Q3 data revisions, PCE inflation eyed

Posted on December 22, 2023 at 9:13 am GMT

Q3 GDP and PCE prices revised lower Dollar resumes slide as Fed rate cut bets increase Aussie and yen the main gainers in FX arena Wall Street rebounds, gold breaks key resistance PCE prices for Q3 trimmed ahead of PCE inflation for November The US dollar resumed its downtrend yesterday against all its major counterparts, with the aussie and the yen taking the most advantage and gaining more than 1% each. The greenback is trying to recover a small portion [..]

Market Comment – Dollar rebounds ahead of PCE data, yen recovers

Posted on December 21, 2023 at 9:28 am GMT

Dollar gains, but investors still expect sharp Fed rate cuts Focus turns to tomorrow’s core PCE inflation metric Yen recovers ahead of Japan’s national CPI numbers Sharp sell-off on Wall Street snaps rally, gold slides Dollar trades higher ahead of PCE inflation release The US dollar rebounded on Wednesday against all but one of the other major currencies, with the pound losing the most after the larger-than-expected slowdown in UK inflation for November convinced investors to add to their BoE [..]

Technical Analysis – Gold battles with 50% Fibo amid declining volatility

Posted on December 20, 2023 at 12:45 pm GMT

Gold has been trading sideways in the four-hour chart The narrowing Bollinger bands point to lower volatility ahead Momentum indicators deteriorate but remain positive Gold had been stuck in a rangebound pattern in the four-hour chart, following its persistent inability to conquer the 50.0% Fibonacci retracement of the 1,931-2,144 upleg. Although the short-term oscillators are reflecting fading positive momentum, near-term risks remain cautiously tilted to the upside. Should the price manage to claim the 50.0% Fibo of 2,038, immediate resistance could be [..]

Market Comment – Stocks hit new records on rate cut excitement

Posted on December 20, 2023 at 9:47 am GMT

Dow Jones and Nasdaq 100 cruise to new record highs British pound drops as inflation cools off, yen stabilizes Supply concerns lift oil prices, gold gains some ground Party on Wall Street It’s been a stellar year for stock markets. The Dow Jones and Nasdaq 100 both closed at fresh record highs yesterday, despite some pushback from Fed officials who warned that markets are getting ahead of themselves in pricing in such heavy rate cuts for next year. Investors are [..]

Volatility Report – December 19, 2023

Posted on December 19, 2023 at 10:29 am GMT

EUR/USD volatility eases aggressively, major JPY crosses remain in turbulent waters Gold and oil volatility at their midpoints, silver expected to experience sizeable moves Volatility drops in stock indices except JP225; Bitcoin returns to calmer periods EUR/USD expected volatility dropped to the lowest level of the past 30 days as the market appears to be preparing for the much-needed break. However, volatility in yen crosses remains extremely elevated but it is eventually expected to embrace the festive spirit. In commodities, [..]

Weekly Technical Outlook – EURUSD, GBPUSD, Gold

Posted on December 18, 2023 at 10:26 am GMT

EURUSD’s 2023 performance looks muted GBPUSD tries to resume its uptrend in 2024 Gold shines in 2023 EURUSD: Euro faces another challenging year The dollar was under pressure at the start of the year due to expectations of a dovish Federal Reserve. However, those dismal predictions have not come true, and the dollar is anticipated to finish the year unchanged. Despite the near certainty of a Fed rate drop, EURUSD bulls may struggle to draw a higher trajectory. In 2023, [..]

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