All Articles Tagged - gold

Technical Analysis – Gold faces setback after hitting 5-month peak

Posted on October 30, 2023 at 9:07 am GMT

Gold surges to a fresh 5-month high amid increasing geopolitical tensions Pulls back below the 2,000 psychological mark in the following session Momentum indicators ease from overbought levels Gold has been in a steep uptrend since October 10, reclaiming crucial technical regions such as the 200-day simple moving average (SMA) and the 2,000 psychological mark before posting a fresh five-month peak of 2,009. However, bullion experienced a minor pullback probably due to reaching overbought conditions. Should gold extend its recent correction, the [..]

Market Comment – Gold stands tall, stocks keep sinking despite solid US data

Posted on October 27, 2023 at 8:57 am GMT

Upside surprise in US GDP was not enough to boost the dollar Stock markets slide in the aftermath, euro little changed after ECB Gold advances, drawing fuel from yields and geopolitical escalation Dollar unable to gain on solid data Another stormy week for global markets comes to an end as investors continue to grapple with a range of risk factors, from a lukewarm earnings season to the heightened volatility in bond markets to the unfolding geopolitical crisis. On the bright [..]

Market Comment – Dollar retreats, stocks stabilize as yields fall back

Posted on October 24, 2023 at 8:53 am GMT

Dollar follows US yields lower after rejection from 5% region But gold and yen cannot take advantage of this correction Euro rebound cut short by disappointing business surveys Retreat in yields slams dollar Global markets breathed a sigh of relief yesterday, as the furious rally in US yields finally lost some steam. The yield on the 10-year Treasury briefly topped the 5.0% region – sending shivers down the spine of riskier assets such as equities – but got rejected and [..]

Market Comment – Stocks suffer collateral damage as yields blast higher

Posted on October 23, 2023 at 9:01 am GMT

Stock markets get kneecapped by relentless rally in US yields Gold and oil prices lose steam amid lack of geopolitical escalation Euro/dollar stable ahead of key events, yen ignores BoJ reports Stocks get bruised The shockwaves from the seismic rally in US bond yields have started to cause tremors in the stock market. Shares on Wall Street fell sharply last week as a mixture of geopolitical concerns and the meteoric rise in US yields dampened risk appetite, sending investors scrambling [..]

Technical Analysis – Gold pulls back after touching 2,000

Posted on October 23, 2023 at 7:12 am GMT

Gold surges to a 5-month high on geopolitical tensions Retreats slightly before claiming the 2,000 psychological mark Momentum indicators suggest overbought conditions Gold has been in a steep uptrend after bouncing off its October low, jumping back above crucial technical regions such as the 200-day simple moving average (SMA) and posting a fresh five-month peak of 1,997. However, bullion experienced a minor correction due to reaching overbought levels. Should buying interest persist, the July peak of 1,987 could initially curb bullion’s [..]

Market Comment – Gold and oil keep rising as Israel-Gaza conflict shows no sign of easing

Posted on October 20, 2023 at 9:23 am GMT

Possibility of weekend escalation in Middle East propels gold and oil higher Powell remarks provide only modest respite to bond selloff, dollar holds steady Stocks continue to struggle as uncertainties rise, Powell keeps rate hike option Simmering tensions keep markets on edge The ongoing conflict in the Middle East continued to weigh on market sentiment on Friday as investors were on alert for a possible escalation over the weekend. With reports suggesting that a ground offensive by Israel into the [..]

Market Comment – Stocks pummelled as yields and oil extend gains, dollar firms ahead of Powell

Posted on October 19, 2023 at 9:10 am GMT

Bond yields continue to rise as surging oil prices add to higher for longer case Stocks pressured as higher yields start to bite, earnings disappoint Oil and gold ease from highs but eye more gains amid ongoing tensions in Mideast Markets unsettled by geopolitics as oil rallies Stock markets fell deeper into the red on Thursday after widespread losses yesterday on the back of the tense mood in the Middle East that has fanned the rally in crude oil, which [..]

Technical Analysis – Gold advances above 200-day SMA

Posted on October 19, 2023 at 7:53 am GMT

Gold violates crucial trendline as geopolitical tensions increase Erases its October decline, marching to a fresh 2-month high Momentum indicators reach overbought levels Gold has been in a steep uptrend after bouncing off its October low, jumping back above crucial technical regions such as the 200-day simple moving average (SMA) and the Ichimoku cloud. Although the short-term oscillators are hinting that the advance is overstretched, fresh geopolitical concerns may add more fuel to the latest rally. Should buying interest persist, the recent two-month peak of [..]

Market Comment – Investors add to Fed hike bets after solid US retail sales

Posted on October 18, 2023 at 8:34 am GMT

US retail sales rise more than expected, bolster Fed hike case Pound slides on slowing wages, rebounds on sticky inflation Aussie and kiwi aided by China’s GDP beat; loonie supported by higher oil prices Wall Street ends mixed; gold extends gains on safe-haven flows Dollar receives support, yields surge on US retail sales beat The US dollar traded mixed against the other major currencies on Tuesday, gaining against the pound, the yen, and the kiwi, but losing ground versus the [..]

Market Comment – Equities gain, gold slips amid diplomatic push to contain Mideast crisis

Posted on October 17, 2023 at 9:07 am GMT

Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in Israel and Gaza developing into a wider conflict ebbed somewhat. A rush of diplomacy by global leaders to defuse the crisis appears to have soothed [..]

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