All Articles Tagged - gold

Market Comment – Calm ahead of US jobs report as markets pin hopes on cool-off

Posted on September 1, 2023 at 9:37 am GMT

Dollar and stocks drift sideways as August payrolls awaited for direction Asian equities outperform after China boosts support but aussie fails to catch fire Oil extends rebound amid tightening market, gold holds near highs All eyes on August NFP report It’s been a week of ‘bad news is good news’ for the markets as investors ramped up their bets that rates in the US have peaked following a slew of soft data suggesting that Fed tightening is starting to put [..]

Technical Analysis – Gold reclaims 200-day SMA after bouncing off 5-month low

Posted on August 28, 2023 at 7:58 am GMT

Gold had been experiencing a strong pullback following its recent peak at 1,987, with the price falling to a fresh five-month low of 1,884. However, bullion managed to find its footing and recoup some losses, jumping back above the crucial 200-day simple moving average (SMA). The momentum indicators currently suggest that bearish forces are fading but remain in control. Specifically, the RSI gained significant ground but failed to pierce through its 50-neutral threshold, while the MACD is strengthening above its red signal [..]

Market Comment – Gold and tech stocks receive boost from weak PMI data

Posted on August 24, 2023 at 8:40 am GMT

Global bond yields plummet after disappointing business surveys Gold and stocks capitalize, Nvidia earnings add fuel to Nasdaq rally Major FX pairs swing violently, Japanese yen comes out on top Soft PMIs highlight global slowdown It was an electrifying trading session in financial markets, after a round of disappointing business surveys from the major economies cemented the notion that the days of central bank tightening are numbered. In a nutshell, global economic momentum is evaporating and Europe is at the [..]

Technical Analysis – Gold leans on the bullish side

Posted on August 23, 2023 at 9:58 am GMT

Gold is looking to exit a bearish channel in the four-hour chart after its sell-off stalled around the 1,884 level. Encouragingly, the precious metal has surpassed its 20- and 50-period simple moving averages (SMAs), making its latest rebound more credible. The positive momentum in the technical indicators is further boosting hopes for an upside reversal; the MACD has entered the positive region for the first time since the end of July, while the RSI is clearly trending up above its 50 neutral mark. [..]

Is gold destined to lose more of its shine? – Special Report

Posted on August 22, 2023 at 12:50 pm GMT

With US Treasury yields and the dollar marching north, gold has come under selling interest, breaking last week below the key zone of $1,900. Although the short-term picture of the precious metal appears to have turned bearish, whether larger declines are in store will likely depend on Fed Chair Powell’s monetary policy remarks at Jackson Hole on Friday. US economy fires on all cylinders August appears to be a very hot month for US Treasury yields, with the 10-year climbing [..]

Market Comment – Jackson Hole suspense keeps traders defensive

Posted on August 21, 2023 at 9:13 am GMT

Markets in a stalemate, waiting for Jackson Hole clarity All eyes on bond yields – will Powell disturb the waters? Dollar and gold stable, China rate cut fails to impress Quiet before the Fed storm? A fragile sense of calm has returned to global markets. From currencies to equities to commodities, most assets started the new trading week in relatively narrow ranges. Investors seem reluctant to adjust their portfolios ahead of what promises to be a stormy week, featuring the [..]

Technical Analysis – Gold drops to fresh 5-month low

Posted on August 21, 2023 at 8:16 am GMT

Gold had been experiencing a strong pullback following its recent peak at 1,987, with the price slicing through both its 50- and 200-day simple moving averages (SMAs). Moreover, in today’s session, bullion fell to a fresh five-month bottom as the bulls seem to be staying on the sidelines. The momentum indicators suggest that the recent decline might be overstretched. Specifically, the RSI is battling with its 30-oversold mark, while the stochastic oscillator has been hovering within its oversold territory for the [..]

Market Comment – Global stock rout deepens amid China gloom, jump in yields

Posted on August 18, 2023 at 9:33 am GMT

Stocks extend slump as China fears intensify, yields scale fresh highs Dollar on a winning streak as Wall Street heads for third weekly loss Markets eye more China rate cuts and Jackson Hole for Fed clues More pain for risk assets The rout in global stock markets shows no signs of ending on Friday even as the surge in bond yields has eased off a little. It’s been a torrid week for equities, which have been hammered by a tale [..]

Performance of key market instruments when the 10-year US yield rises above 4% – Special Report

Posted on August 18, 2023 at 7:58 am GMT

August is traditionally seen as a quiet month, but once again significant developments are taking place globally. In particular, the 10-year US yield has climbed decisively above the 4% threshold as market participants are scrambling to explain this move amidst a low liquidity environment. A quick look at market history could give us some valuable insight as to what the future holds for euro-dollar and other key market instruments. Significant developments everywhere The market has once again proven that it [..]

Market Comment – Dollar shines as yields shoot up, gold and yen suffer

Posted on August 17, 2023 at 8:38 am GMT

Yields approach new cycle highs, boosting US dollar Gold and stock markets absorb collateral damage Yen meltdown continues; how likely is intervention? Bond rout spills over The havoc in bond markets has started to spread into other asset classes. Yields on 10-year US Treasuries continue their relentless rally and are currently just a shade away from reaching new highs for this cycle. In turn, this has kneecapped riskier trades, which mechanically become less attractive as the risk-free interest rate rises. [..]

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