All Articles Tagged - gold

Technical Analysis – Gold remains under pressure; maintains short-term bearish bias

Posted on February 22, 2023 at 8:06 am GMT

Gold remains under pressure and risk is still to the downside as prices continue to drift lower from the 1,847 key level and the short-term simple moving averages (SMAs). The technical oscillators are looking neutral and point to more weakness in the market. Looking at the 4-hour chart, the RSI is pointing marginally down below the 50 level, while the MACD is moving sideways near the zero level. The next target to the downside is the 1,830 support level. At [..]

Daily Market Comment – Mounting Fed bets cannot propel dollar higher

Posted on February 20, 2023 at 10:05 am GMT

Dollar unable to capitalize on ‘higher for longer’ Fed bets Yen and gold feel the heat of rising US yields instead Stocks remain resilient, but risk/reward is unattractive Dollar lethargic despite Fed speculation A series of powerful US economic data releases this month dispelled concerns about an economic slowdown, engineering a massive repricing of Fed policy. Incoming data revealed the labor market is still booming, consumer demand is resilient, and inflationary pressures are not abating fast enough – fueling speculation [..]

Technical analysis – Gold’s decline takes a breather; caution remains

Posted on February 20, 2023 at 8:56 am GMT

Gold slid to a seven-week low of 1,818 last Friday before closing narrowly back above the 1,835 support for the third consecutive day. The precious metal was trying to extend its minor gains above the 1,835 base during Monday’s early trading hours. But excluding the upside reversal in the Stochastic oscillator, the RSI and the MACD did not show any meaningful reaction, with the former remaining below its 50 neutral mark and the latter hovering within the negative area and near its previous [..]

Daily Market Comment – Dollar stays strong, pound plummets as UK inflation eases

Posted on February 16, 2023 at 9:09 am GMT

US retail sales rebound strongly, adding to soft landing hopes Dollar climbs higher as investors maintain Fed hike bets Pound falls as slowing inflation alleviates pressure on BoE Equities gain, but gold extends decline US retail sales rise most in two years, dollar extends gains The US dollar continued to march north on Wednesday, outperforming all the other major currencies, although it pulled back somewhat today. What added extra fuel to the dollar’s engines may have been the hotter-than-expected US [..]

What does the current yield curve inversion tell us about future asset performance? – Special Report

Posted on February 15, 2023 at 2:52 pm GMT

Economists and market participants enjoy identifying indicators that, according to their analysis, reveal the future economic performance. Among the plethora of such indicators, the inverted 2-year/10-year (2s10s) US yield curve holds a special place in their hearts as it has predicted the most recent recessions. At the moment, the 2s10s US curve trades at an extremely inverted level that has been seen only twice in the past 40 years. What were the economic conditions that led up to this inversion [..]

Technical Analysis – Gold plummets to fresh 5-week low

Posted on February 15, 2023 at 9:53 am GMT

Gold plunged towards a fresh five-week low of 1,831, continuing the strong selling interest of the ten-month peak of 1,960. The RSI is diving towards the oversold territory with strong momentum and the MACD is losing ground beneath its trigger and zero lines. In trend indicators, the 20- and the 50-period simple moving averages (SMAs) are following the descending move in price action. Further declines may meet support around 1,825, taken from the lows on January 15, while even lower [..]

Daily Market Comment – Mood improves ahead of US inflation data; stocks perk up, dollar slips

Posted on February 14, 2023 at 10:18 am GMT

Stocks rebound as bond yields fall back, but US inflation report poses a risk Yen firmer after Ueda confirmed as nominee for BoJ governor Pound inches higher on UK jobs data, gold finds support ahead of US CPI Equity markets fearless ahead of CPI test It’s all about the US inflation report today as the January figures (due at 13:30 GMT) will either endorse the view that disinflation is taking hold or point to a long battle ahead to contain [..]

Technical Analysis – Gold’s bullish channel at risk; support at 50-SMA

Posted on February 13, 2023 at 9:06 am GMT

Gold was experiencing a flat trading session around the 1,860 level during Monday’s early European hours after a not-so-encouraging week, which sent the price to a one-month low of 1,852. Specifically, the precious metal could not attract enough buying to crawl back above the support-turned-resistance trendline, edging lower instead to test the 50-day simple moving average (SMA) at 1,856. That is where the lower boundary of a bullish channel seems to be positioned. Hence, failure to rebound here could cause a relatively [..]

Daily Market Comment – Caution ahead of Powell after RBA’s hawkish drumbeat

Posted on February 7, 2023 at 10:21 am GMT

Equity markets struggle to get back on their feet after hawkish Bostic and RBA Dollar holds near one-month highs, aussie jumps as RBA flags more rate hikes Yen perks up on wage data, gold firmer ahead of Biden’s State of the Union speech Stocks make limited headway as Powell looms large Trading got off on a somewhat steadier note on Tuesday, with some equity markets turning positive, while the US dollar’s rebound appeared to run out of steam. But the [..]

Technical Analysis – Gold recoups some losses after strong sell-off

Posted on February 6, 2023 at 7:41 am GMT

Gold prices experienced a steep bearish move in the preceding week, losing more than 5% from the recent ten-month top of 1,960 and breaking the uptrend line to the downside. The price found a support level near the 50-day simple moving average (SMA) at 1,864, failing to continue the bearish move. The RSI is picking up speed near 50; however, the MACD continues to distance itself below its red signal line. A reversal to the downside could stall at the 1,825 barrier, before challenging the crucial [..]

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