All Articles Tagged - gold

Technical Analysis – Gold finds feet at 38.2% Fibonacci but downside risks linger

Posted on March 14, 2022 at 10:49 am GMT

Gold’s downward pressures are weighing on the 1,959 level, which is the 38.2% Fibonacci retracement of the recent 1,780-2,070 rally. Despite the deep retreat in the price of the commodity, the bullish simple moving averages (SMAs) continue to endorse the ascent in the precious metal. Meanwhile, the short-term oscillators are skewed to the downside, confirming that positive impetus is fading. The MACD is far north of the zero threshold and looks set to slide beneath its red trigger line, while [..]

Weekly Comment – Fed and BoE meetings awaited amid intensifying ceasefire negotiations

Posted on March 11, 2022 at 2:22 pm GMT

It was a highly volatile week for markets as investors constantly assessed the developments over the Russian invasion of Ukraine. In the upcoming week, the spotlight will turn to the Fed’s, BoE’s and BoJ’s monetary policy decisions, while inflation and employment reports will also hit the markets. The highlights: In America, the Fed is anticipated to proceed with its first rate increase in the post-Covid-19 era on Wednesday, in its effort to tackle the persistently high inflation, which reached a 40-year peak of 7.9% in February. [..]

US Open Note – Risk appetite improves on President’s Putin remarks

Posted on March 11, 2022 at 1:49 pm GMT

Alleged Putin comments improve market sentiment Global markets seem set to finish the week on a risk-on mode as the Russian President Vladimir Putin was reportedly cited saying that talks with Ukraine have been positive, offsetting yesterday’s defensive mood. This appears to have weighed on safe haven demand with the US dollar staying relatively flat against a basket of currencies, while the Japanese yen and gold have witnessed significant pullbacks on Friday. Moreover, US sovereign bond prices eased, sending the [..]

Daily Market Comment – Buoyed sentiment ahead of peace talks; oil sinks on UAE supply signals

Posted on March 10, 2022 at 10:29 am GMT

Equities rally on hopes of a ceasefire as Russian and Ukrainian foreign ministers meet Oil recoups some losses after tumbling on possible supply increase by OPEC Euro drifts lower ahead of crucial ECB meeting, firmer dollar eyes US CPI data Cautious optimism for talks supports mood The first high-level talks between Russian and Ukrainian diplomats are due to take place later today, spurring some optimism in hard-trodden markets. The foreign ministers of Russia and Ukraine are meeting in Turkey and [..]

Technical Analysis – Gold corrects to 1,975 level but bullish risks linger

Posted on March 9, 2022 at 3:34 pm GMT

Gold’s negative impetus has eased after an aggressive retreat down to the 1,975 level, which is the 50.0% Fibonacci retracement of the up wave from 1,878 until the 19-month high of 2,070. That said, the climbing simple moving averages (SMAs) continue to endorse the more than one-month bull run. The short-term oscillators are reflecting the recent increase in negative momentum. The MACD, deep in the positive region, is falling further below its red trigger line, while the strong negative charge [..]

US Open Note – Energy prices ease as risk appetite improves

Posted on March 9, 2022 at 1:51 pm GMT

Oil supply disruptions weigh on global growth outlook With the unfolding Russian invasion of Ukraine in focus, the US and the UK have announced an embargo on Russian fossil fuel imports. Meanwhile, the European Union has also declared its decision to slash its reliance on Russian natural gas by two thirds. Responding to these sanctions, Russia threatened to cut gas supplies to Europe, while President Putin has already signed an order to restrict exports of some goods and raw materials. [..]

Daily Market Comment – Markets calmer as Russian ‘setback’ supports risk appetite

Posted on March 9, 2022 at 10:22 am GMT

Stocks attempt another rebound amid lack of fresh Ukraine headlines But markets struggling for clear direction ahead of key events Oil keeps surging after US and UK ban imports of Russian oil Slowing Russian advances might be aiding sentiment Riskier assets were back in fashion on Wednesday while safe havens were largely on the retreat as ‘risk-on’ was attempting another comeback after yesterday’s bid fell flat in another highly choppy session. There is no single factor that seems to be [..]

US Open Note – Dollar and US futures look steady; gold shines

Posted on March 8, 2022 at 1:49 pm GMT

Ukraine – Russia tensions; rouble continues the drop Russia-Ukraine peace talks have made no headway, and despite Germany’s resistance to a ban on Russian energy imports, oil futures have fallen from a 14-year high reached on Monday. Analysts expect the supply shock to linger and harm growth in the coming months. A convoy of buses are on their way to Mariupol to evacuate civilians from the southern port, which has been cut off from food, water, electricity, and heat for more [..]

Daily Market Comment – Stocks crushed by relentless rally in oil as Ukraine crisis deepens

Posted on March 8, 2022 at 10:10 am GMT

Commodities surge across the board, heightening fears about a global recession Crude oil hits $130 a barrel, gold soars past $2,000/oz, but dollar slightly softer today Selloff in euro and equities takes a breather for now after fresh lows Markets seek respite as fighting continues The fighting in Ukraine is intensifying and a third round of talks between Russian and Ukrainian officials has not led to much progress, but markets are nevertheless taking a breather from the recent turmoil on [..]

Technical Analysis – Gold re-enters 2,000 zone; outlook bullish

Posted on March 8, 2022 at 8:37 am GMT

Gold staged another exciting bullish run early on Tuesday to finally re-enter the 2,000 level after almost two years since its pandemic peak. Particularly, the price is currently testing the resistance zone of 2,020 from August 2020, making any downside corrections or some consolidation likely at this point as the RSI and the Stochastics flash overbought conditions. That said, neither of those indicators is showing signs of abating, while the MACD continues to gain momentum at two-year highs, reflecting persisting buying forces. Meanwhile [..]

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