All Articles Tagged - gold

Market Comment – Dollar stays strong despite sliding Treasury yields

Posted on November 9, 2023 at 10:25 am GMT

Dollar extends recovery above 151-yen level But long-dated Treasury yields slip further China’s woes dent sentiment in Asia Oil and gold extend their slides Dollar stands tall even as long-dated yields extend slide The dollar continued gaining ground against most of its major peers on Thursday, breaking back above the 151 level against the yen and adding to the risks of intervention, even as a former BoJ official said he thinks the Bank should end its negative interest rate policy [..]

Is the geopolitical rally in gold exhausted? – Special Report

Posted on November 8, 2023 at 2:05 pm GMT

Gold prices retreat from recent highs, despite sharp drop in US yields It seems safe-haven flows are unwinding as geopolitical nerves calm For gold to rally back to record highs, it might need a recession Sinking yields unable to boost gold On paper, last week had all the elements to be incredibly bullish for gold. Yields on US government bonds came crashing down, which in turn inflicted heavy damage on the US dollar. Both of these developments are normally [..]

Market Comment – Gold slides, dollar regains strength as yields storm back

Posted on November 7, 2023 at 9:37 am GMT

Dollar regains some lost ground as US yields bounce back Gold and oil edge lower – geopolitical risks getting priced out? Aussie sinks despite RBA rate increase, Fed speakers ahead Dollar back in the ring Global markets continue to grapple with a variety of risk factors, from geopolitical tensions to a softer economic data pulse, although the most pressing question for traders is whether yields on government bonds have peaked for this cycle. Yields are essentially the price of money, [..]

Market Comment – Dollar gets crushed after nonfarm payrolls miss

Posted on November 6, 2023 at 9:36 am GMT

Dollar pummeled after disappointing US employment data Stock markets rally, but gold fails to capitalize on falling yields Australian interest rate decision and Chinese trade data next Dollar hammered after NFP A disappointing US employment report inflicted some serious damage on the dollar last week. Nonfarm payrolls clocked in at 150k in October, missing the forecast of 180k, while the unemployment rate ticked higher and wage growth continued to cool off. Hence, the US labor market has started to loosen [..]

Technical Analysis – Could gold return above 2,000?

Posted on November 6, 2023 at 8:30 am GMT

Gold extends last week’s sideways move below 2,000 Bullish structure in progress above 1,980 Gold shifted to a sideways pattern after its impressive rally from a seven-month low of 1,800 run out of steam slightly above the 2,000 mark. The consolidation phase seems to be developing within a bullish pennant formation, feeding hopes that the bulls have more fuel in the tank. In other encouraging signals, the 20-day simple moving average (SMA) has drifted above the longer-term SMAs, while the price itself has yet [..]

Market Comment – Stocks rally, yields slump as Powell strikes neutral tone

Posted on November 2, 2023 at 10:06 am GMT

Powell signals Fed is likely done hiking rates, sparking relief rally Wall Street cheers Powell’s balanced tone, but dollar stays resilient as yields tumble Pound steady ahead of Bank of England decision Fed asks “should we hike more” The Federal Reserve left interest rates unchanged on Wednesday as expected, citing tighter financial conditions as a factor for pausing for a second straight meeting. With the rout in bond markets worsening since the previous FOMC meeting in September, the yield on [..]

Technical Analysis – Gold trades near key barrier of 1,985

Posted on November 2, 2023 at 9:46 am GMT

Gold pulls back to rest near 1,985 key zone Daily oscillators detect slowing upside momentum A break lower could signal the metal’s return within a broader range Gold has been in a retreat mode since October 30, after hitting resistance near the 2,010 zone. The metal has seen massive gains due to concerns surrounding the conflict in the Middle East, but the current retreat has brought it back near the 1,985 barrier, which acted as the upper bound of the [..]

Market Comment – Yen sinks as Fed enters the spotlight

Posted on November 1, 2023 at 9:29 am GMT

Yen nears October 2022 lows against dollar on BoJ disappointment Will a hawkish Fed trigger a yen intervention episode? Gold, oil retreat as Middle East fears ease Wall Street closes in the green ahead of Fed decision Dollar/yen defies gravity after BoJ decision The dollar traded higher against all the other major currencies on Tuesday, gaining the most ground against the yen. The Japanese currency came under massive selling interest after the Bank of Japan disappointed those expecting bold changes [..]

Market Comment – Yen defies BoJ, tumbles after tweak to yield policy

Posted on October 31, 2023 at 10:19 am GMT

Bank of Japan adjusts yield curve control policy again, but yen skids Yields edge lower after Treasury Department says will borrow less in Q4 Dollar mixed, euro extends gains, stocks perk up Yen not impressed by BoJ’s incremental move The Bank of Japan took another step towards policy normalization on Tuesday, tweaking its yield curve control policy (YCC) for the second time this year amid signs of broadening inflationary pressures. As expected, the Bank upped its inflation forecasts for the [..]

Market Comment – Gold eases from highs as markets stay calm despite Gaza offensive

Posted on October 30, 2023 at 9:57 am GMT

Gold hits $2,000 as Israel begins ‘second stage’ of war in Gaza, oil jumps too But safe haven demand eases on Monday as focus turns to central banks Dollar slips below 150 yen as yields consolidate ahead of Treasury announcement Markets on edge but no panic as Gaza conflict escalates Israel’s long-expected ground offensive into the Gaza Strip got underway over the weekend, raising the stakes in an ever-escalating conflict that is looking increasingly like it’s turning into a long-drawn-out [..]

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