All Articles Tagged - gold

Daily Market Comment – Dollar roars higher, stocks muted amid Fed uncertainty, recession risks

Posted on August 19, 2022 at 9:27 am GMT

Dollar stretches weekly gains, hits 1-month high, on Fed talk, dimming outlook Wall Street headed for flat week as growth worries keep optimism in check Gold and oil set to end week on the backfoot, but gas prices hold near highs Markets look to Jackson Hole as Fed rate path gets blurred Sentiment was subdued on Friday as investors struggled to get an accurate reading on the US economy as well as on the Fed’s intentions about the pace of [..]

Technical Analysis – Gold extends decline, 200-day SMA in focus

Posted on August 19, 2022 at 8:45 am GMT

Gold has been trending downwards during the past two weeks, creating a clear structure of lower highs and lower lows. So far, bullion has crossed below both its 50-period simple moving average (SMA) and the Ichimoku cloud, while it is currently ready to challenge the crucial 200-period SMA. The momentum indicators suggest that bearish forces remain in total control. Specifically, the stochastic oscillator is descending within the 20-oversold area, while the MACD histogram is below both zero and its red [..]

Technical Analysis – Gold pulls below 1,800; bias still neutral

Posted on August 16, 2022 at 7:05 am GMT

Gold started the week on the wrong foot, sliding to a low of 1,772 on Monday after two days of unsuccessful efforts to claim the 1,800 psychological mark. The bearish correction, however, has not raised alarms yet, as the price seems to be setting a foothold around the broken bearish channel from March and the 50-day simple moving average (SMA) at 1,779. The 50% Fibonacci retracement of the 1,878 – 1,680 is also cementing that base. Moreover, the RSI, although weaker, is marginally [..]

Daily Market Comment – Inflation slowdown knocks US dollar, sends stocks flying

Posted on August 11, 2022 at 8:29 am GMT

US inflation slows by more than expected, traders unwind rate hike bets Dollar retreats, stock markets party, but bonds and gold not buying it Disney reports decent earnings, producer price data coming up next Cooling down Expectations that inflation in America may have peaked already went into overdrive yesterday following a cooler-than-expected CPI reading. Consumer prices were flat in July from the previous month, with declines in energy products and used cars neutralizing increases in food and rents. A sense [..]

Technical Analysis – Gold abandons bullish channel, but confirmation required

Posted on August 11, 2022 at 8:15 am GMT

Gold could not sustain its bullish power above the 1,795 ceiling despite its flash spike to 1,807 on Wednesday, with the price retreating below the upward-sloping channel instead to reach a low of 1,783 early on Thursday. While the negative breakout has raised the odds for more downside, the precious metal might have another opportunity to find its feet near the surface of the March bearish channel at 1,785, while the 50-period simple moving average (SMA) on the four-hour chart, currently aligned [..]

Daily Market Comment – Wall Street runs into resistance wall, oil eyes Iran deal

Posted on August 9, 2022 at 8:13 am GMT

Stock and bond markets tell very different stories about what’s next Euro/dollar continues to chop sideways, gold claws its way higher Oil in focus as Iran talks reach ‘final text’, deal awaits approval Conflicting narratives Equity and bond markets have been at odds with each other lately, painting conflicting pictures of what lies ahead. The price action in stocks has been consistent with a soft economic landing, with Apple shares down less than 10% from record highs and the meme [..]

Technical Analysis – Gold stays within bearish channel

Posted on August 8, 2022 at 7:29 am GMT

Gold was trading with a muted tone during Monday’s early European trading hours at $1,774 following the pullback near the 50-day simple moving (SMA) and the surface of the downward-sloping channel last Friday. The latest decline raised concerns about whether a new downturn will start within the bearish channel, but the momentum indicators have yet to clarify this. Although losing steam, the RSI is still above its 50 neutral mark, while the MACD remains attached around zero and marginally above its red signal [..]

Daily Market Comment – Stocks drift, dollar firms as markets brace for US jobs slowdown

Posted on August 5, 2022 at 9:33 am GMT

NFP report awaited as recession risks remain front and centre Dollar inches higher ahead of the jobs data, stocks drift sideways Pound regains footing after fall from BoE’s warning of long recession Oil steadies after sliding again, gold shines as yield-curve inversion deepens Jobs report to put US economy to the test Recession jitters were abound on Friday even as markets got off to a steady start following a few wobbles along the week. PMI indicators around the world painted [..]

Daily Market Comment – Fed hawks lift yields out of the doldrums, yen pauses for breath

Posted on August 3, 2022 at 9:31 am GMT

US yields jump after Fed pours cold water on notion that rate hikes are nearing end Yen rally eases, stocks mixed as Taiwan escalation seen limited after Pelosi visit Oil prices drift lower ahead of OPEC+ output decision Fed bets back on after hawkish talk Bond markets were reeling and interest rate futures were being recalibrated after Federal Reserve officials questioned the recent scaling back of rate hike expectations by investors. Following the July FOMC meeting where Powell was perceived [..]

Technical Analysis – Gold edges higher, descending trendline in focus

Posted on August 1, 2022 at 9:24 am GMT

Gold has been experiencing a sustained downtrend since early March, creating a profound structure of lower highs and lower lows. However, the precious metal managed to cease its decline at the one-year low of 1,681 and is currently in recovery mode, targeting its upper Bollinger band and the restrictive trendline. The momentum indicators are reflecting a positive near-term bias. Specifically, the stochastic oscillator is sloping upwards within the 80-overbought zone, while the RSI has jumped above its 50-neutral threshold. Should buying [..]

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