All Articles Tagged - gold

Asian Session – Aussie and yen shrug off weak data to gain against dollar

Posted on October 15, 2015 at 7:20 am GMT

Weak retail sales data continued to weigh on the dollar on Thursday as investors remain doubtful whether the Fed would raise interest rates by the end of the year. However, Richmond Fed President Jeffrey Lacker appeared unconvinced by the recent disappointing data. Lacker said on Wednesday that the weak data does little to change his outlook for the US economy. The dollar fell to 118.71 yen in late Asian trading, having risen to 119.16 yen earlier in the session. The [..]

Technical Analysis – Gold surges past 1150; outlook mixed

Posted on October 9, 2015 at 1:43 pm GMT

Gold prices rallied on Friday to rise above 1150 to a two-week high as bullion took advantage of a weakened outlook for the dollar. Prices have risen above the Ichimoku cloud but remain well below the 200-day moving average and within the narrowing trading range that’s been forming since July, giving a somewhat mixed outlook for the medium term. The 61.8% of the Fibonacci retracement level of the May-July downleg is the key resistance level at 1170.50 that gold needs [..]

Technical Analysis – Gold rallies above 1140 but outlook neutral

Posted on September 24, 2015 at 1:41 pm GMT

Gold continued to gain momentum on Thursday, climbing above 1140 and adding to Wednesday’s 0.5% gain. The top of the Ichimoku cloud has been providing resistance around 1138.40 as prices struggled to rise much past this level in recent days. But today’s clear break above it puts it within closer scope of the August 24 high of 1169.97. A sustained rise above the cloud is needed to strengthen the upside momentum and the medium-term outlook is likely to stay neutral [..]

Technical Analysis – Gold bearish below 200-day moving average and trend line

Posted on September 18, 2015 at 7:13 am GMT

Gold has found strong support at the key 1100 level and has consistently closed above it for a week. After reaching a high of 1135.16, prices are expected to consolidate around this level in the near-term. As long as gold remains above its 50-day moving average then upside momentum would hold. But any move higher would find resistance at the 100-day moving average around 1152 and also at the downtrend line. In the bigger picture, gold looks bearish, especially if [..]

China manufacturing activity continues to slow; official PMI at 3-year low

Posted on September 1, 2015 at 10:55 am GMT

The official manufacturing gauge in China slipped below 50 in August for the first time since February to a three-year low. The manufacturing PMI fell to 49.7, in-line with estimates and down from July’s reading of 50.0. The service sector performed better with the non-manufacturing PMI showing expansion at 53.4 but at the slowest rate since May. Also released on Tuesday were the final readings of the Caixin PMI figures for August. The manufacturing PMI was revised higher to 47.3 [..]

Technical Analysis – Gold holds bearish bias below 1200

Posted on August 26, 2015 at 7:15 am GMT

Gold has remained below the key psychological level of 1200 since the end of June. Prices are challenging the 61.8% Fibonacci retracement of the rise from the 2008 low (681.43) to the 2011 high (1920.80). This was a record high and since then, prices have been falling and making lower peaks. Looking at the weekly chart, the outlook is bearish especially after the 50 and 100-week moving averages crossed below the 200-week moving average. Also the MACD is in negative [..]

European Session – Euro back above 1.09 as dollar seesaws on Fed comments and mixed data

Posted on August 5, 2015 at 2:05 pm GMT

After having a strong start to the day on the back of hawkish comments from Atlanta Fed President Dennis Lockhart, the dollar went into sharp reverse on contradicting remarks from another Fed official. On Tuesday, Lockhart had raised expectations of a September rate rise by saying that “the economy is ready and it is an appropriate time to make a change” with regards to the September meeting. But on Wednesday, Fed governor Jerome Powell said that “nothing has been decided” [..]

European Session – Oil rebound helps commodity currencies; dollar falls on factory orders

Posted on August 4, 2015 at 2:29 pm GMT

Oil prices rebounded on Tuesday after falling to a 6-month low on Monday as the global supply glut weighed on prices. Brent crude futures fell below $50 a barrel for the first time since January, but a steady recovery on Tuesday helped it climb by 1.6% to $50.30 in late European session. Other commodity prices such as copper and gold were boosted from the higher oil prices and a muted dollar. Copper prices were 1% higher at $237, while gold [..]

FX Daily Outlook

Posted on August 4, 2015 at 9:24 am GMT

[..]

Asian Session – Aussie higher on RBA statement; Oil rout pushes loonie to new lows

Posted on August 4, 2015 at 8:02 am GMT

The Reserve Bank of Australia kept its cash rate unchanged at 2% on Tuesday as was widely expected. After two quarter point cuts earlier this year, the RBA has toned down its easing bias and made no mention of the need for further depreciation of the Australian dollar in its statement. Instead, the Governor Glenn Stevens said that the currency is adjusting to the fall in commodity prices. The aussie jumped by over 1% from around 0.7288 to 0.7384 against [..]

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