All Articles Tagged - gold

Weekly Technical Outlook – GBPUSD, AUDUSD, Gold

Posted on October 16, 2023 at 1:56 pm GMT

Gold hits important resistance as geopolitics remain on the forefront GBP/USD has weak technical outlook ahead of key data releases AUD/USD supported near October low; technical picture still fragile Israel-Hamas war –> Gold In response to Israel’s warning, investors sought safety in gold, driving the precious metal up by 3.0% to $1,932 and near its 200-day simple moving average (SMA). The risk of escalation remains intact as the timing of a possible invasion remains unclear while clashes with Lebanon’s Hezbollah militants intensify [..]

Market Comment – Gold and oil surge as Middle East conflict intensifies

Posted on October 16, 2023 at 8:43 am GMT

Gold surges as Israel carries ground operations inside Gaza Geopolitics and Harker weigh on Fed rate hike expectations Oil rallies as fears of supply disruptions due to the war heighten S&P 500 and Nasdaq slip as geopolitics offset strong earnings results Gold shines as Israel-Hamas tensions flare up Gold surged more than 3% on Friday as the escalating conflict between Israel and Hamas forced market participants to seek safety. On Friday, Israel’s infantry carried out raids inside the Gaza Strip, [..]

Market Comment – Dollar bounces back, stocks slip after US CPI beat

Posted on October 13, 2023 at 9:10 am GMT

Stronger-than-expected US CPI data revives rate hike bets Dollar re-energised, heads for weekly gains as yields jumps Stocks come under pressure, but selloff limited ahead of Q3 earnings Dovish Fed bets dented by CPI surprise Markets whipsawed on Thursday after the US consumer price index rose more than expected in September, dashing hopes that the Fed is done hiking rates. The CPI measure of inflation edged up 0.4% month-on-month, beating forecasts of a 0.3% increase, while the annual figure was [..]

Technical Analysis – Gold increasingly bullish in short term, reaches 100-period SMA

Posted on October 11, 2023 at 11:47 am GMT

Gold extends rebound, tries to overtake 100-period SMA But risk that rally is becoming overstretched Gold climbed to a near two-week high on Wednesday, briefly hitting 1,874.65, as the rebound from the seven-month low of 1,810.31 continued to gain traction. The momentum indicators point to an ongoing positive bias in the short term, but there is a risk the recovery could soon run out of breath. The RSI is crossing into the overbought region above 70 and the stochastics are [..]

Market Comment – Yields slide as Fed tones down hawkish talk, stocks shrug off ME flareup

Posted on October 10, 2023 at 9:31 am GMT

Higher yields prompt a rethink at the Fed as policymakers turn cautious But less hawkish tone pushes yields lower, boosting equities Ongoing tensions in Middle East further pressure yields, keep gold supported Oil slips slightly while dollar braces for more Fed speak, CPI data Fed has second thoughts about additional tightening As markets wait anxiously to see how far the latest conflict between Israel and Hamas will escalate, Fed policymakers provided some soothing words to jittery investors already caught wrong [..]

Market Comment – Oil jumps, safe havens gain as war erupts in Middle East

Posted on October 9, 2023 at 9:28 am GMT

Israel-Hamas war pushes up oil prices amid risk of wider conflict Dollar, yen and gold rise too as investors rush to safety Fed rate hike odds reverse NFP boost; US CPI, Fed speakers eyed next Middle East violence sparks turmoil Markets woke up to the worst flare-up of violence between Israel and Palestine in 50 years on Monday after Hamas launched surprise missile attacks into Israeli territory over the weekend. Oil futures initially shot up more than 5% as fears [..]

Technical Analysis – Gold trades higher but not yet ready for a full reversal

Posted on October 9, 2023 at 7:30 am GMT

Gold jumps higher on the back of geopolitical risks This is the first reaction from the bulls after the strong sell-off Upleg could have legs if momentum indicators align Gold is trading higher today as the bulls are trying to recover part of the significant losses incurred during the nine consecutive red candles that pushed gold from the mid-1,900s down to 1,800. The bulls’ ability to continue this upleg is critical for the short-term outlook of gold. In the meantime, the momentum [..]

Market Comment – Nonfarm payrolls to test the dollar’s winning streak

Posted on October 6, 2023 at 8:57 am GMT

Nonfarm payrolls coming up, forecasts point to a solid report Dollar winning streak set to extend to 12 weeks if data is solid Gold stabilizes as yields calm down, but oil prices crash Nervous markets brace for nonfarm payrolls A fragile sense of calm has returned to global markets ahead of the latest round of US employment data. After reaching their highest levels since the financial crisis this week, US Treasury yields have stabilized somewhat, waiting for nonfarm payrolls as [..]

Technical Analysis – Gold collapses towards 1,800, stuck in oversold conditions

Posted on October 5, 2023 at 7:13 am GMT

Gold posts eighth straight daily loss, touching its lowest levels since March Decline shows no signs of easing, widening Bollinger bands point to high volatility Oscillators deep in oversold zone for quite some time, bulls remain on the sidelines Gold has been in a steep downtrend after violating both its 50- and 200-day simple moving averages (SMAs). Even though the momentum indicators suggest that the retreat has been overstretched, the price appears unable to stage a rebound. If the bears attempt to push the price [..]

Market Comment – Yen surges after possible intervention

Posted on October 4, 2023 at 8:19 am GMT

Yen spikes after breaching the 150-per-dollar mark Markets suspect intervention, but officials do not confirm Dollar charges higher on more upbeat US data Wall Street and gold suffer as dollar and yields extend rally Yen surges, stoking intervention speculation The yen was the sole major currency to end Tuesday with gains against the US dollar, unexpectedly and instantly surging after dollar/yen breached the 150 level. That barrier was closely monitored by traders and considered as the line in the sand, [..]

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