All Articles Tagged - gold

Market Comment – Stock rout deepens on chipmaker selloff as dollar bounces back

Posted on July 19, 2024 at 9:12 am GMT

Wall Street headed for weekly slump amid China trade war fears Dollar stages dramatic reversal on safety bids but gold loses out Euro slips after ECB decision, yen steady but off week’s highs Rate cut optimism turns to gloom Equity markets were mostly in the red on Friday, adding to the weekly losses after a torrid week that began with optimism that a Fed rate cut is nearing but ended on heightened fears of a fresh trade standoff between China [..]

Technical Analysis – Gold shines at fresh all-time high

Posted on July 17, 2024 at 11:59 am GMT

Gold ends sideways trajectory; enters uncharted territory Short-term bias positive but overbought signals suggest some caution A close above 2,480 might be necessary to boost buying confidence Gold bulls powered ahead to finally exit the three-month range and chart an all-time high of 2,482 on Wednesday. The bullish breakout has placed the precious metal back into an uptrend, which may continue to attract buyers in the upcoming sessions. However, caution is necessary as the price has already exceeded the upper Bollinger [..]

Market Comment – Wall Street extends record streak, gold joins in

Posted on July 17, 2024 at 8:15 am GMT

Rate cut and soft landing bets propel US equities to new highs Gold also sets a new record as US yields sink despite Trump risks Pound and kiwi edge up on slight upside surprises in CPI data US stocks brace for soft landing Optimism that the Fed is well placed to engineer a soft landing by cutting rates soon continues to fuel risk appetite on Wall Street, even as equity markets globally struggle against the prospect of Trump 2.0. Worries [..]

Gold’s astounding rally and the challenges ahead – Special Report

Posted on July 16, 2024 at 10:25 am GMT

Gold gains around 18% year-to-date But is it time for the uptrend to cool down a bit? Even if so, the broader outlook remains positive Gold shines bright Gold had a great year-to-date performance, gaining around 18% and hitting a record high of 2450 on May 20. As discussed in previous reports, gold’s uptrend was fueled by geopolitical uncertainty, continued central bank buying and strong consumer demand, especially in China, as well as expectations of lower borrowing costs, at [..]

Higher market volatility led by yen, gold and equities – Volatility Watch

Posted on July 16, 2024 at 6:58 am GMT

Euro/dollar volatility remains low despite weekend’s events Volatility in commodities jumps, apart from oil Stock indices experience stronger volatility, decoupling from Bitcoin Euro/dollar volatility remains very low despite last week’s weaker CPI report and the weekend’s gun attack on the Republican Presidential candidate. On the flip side, volatility in yen crosses has increased considerably as the BoJ is rumoured to have intervened last week in dollar/yen, ahead of the end-July BoJ gathering. In the meantime, volatility in gold has jumped to the highest level of the [..]

Weekly Technical Outlook – EURUSD, GBPUSD, Gold

Posted on July 15, 2024 at 1:23 pm GMT

EURUSD tests June’s peak as ECB rate decision looms GBPUSD pauses impressive rally near 1.3000 ahead of CPI data Gold resumes weak momentum after closing above 2,400 US retail sales –> Gold It was a shocking weekend of a failed assassination attempt against Donald Trump, which caused a heated moment in the US political landscape. Despite that, the US dollar gained only moderately on safety bits, leading the non-yielding gold slightly to the downside as Biden and Trump called for [..]

Technical Analysis – Gold’s rally stalls at 7-week high

Posted on July 15, 2024 at 10:01 am GMT

Gold jumped to its highest level since May 22 last week But fails to extend rally, trading flat in past couple of sessions Despite latest weakness, oscillators remain positively tilted Gold has been experiencing solid gains since late June, with the break above its 50-day simple moving average (SMA) and restrictive trendline brightening the short-term technical outlook. However, the rally seems to be on pause in the latest sessions as indicators have approached overbought conditions. Should the advance falter, the price could [..]

Market Comment – A confused market tries to find its footing

Posted on July 15, 2024 at 7:49 am GMT

Dollar is steadier following the weekend’s events Chairman Powell speaks today as outlook becomes challenging Bitcoin benefits from developments and gold remains above $2,400 China’s CPC plenary starts today and could generate headlines Market digests the events of the weekend A numb start to the trading week as the market is digesting the weekend’s events regarding the US Presidential candidate Donald Trump. The attack during a Republican rally in Pennsylvania brought back memories from a distant past. There is lots [..]

Market Comment – Weaker US CPI sends US stocks into a tailspin

Posted on July 12, 2024 at 7:36 am GMT

Top US stocks fall despite the weaker CPI report Dollar suffers but euro/dollar fails to make significant gains Gold climbs above the $2,400 level again Yen benefits from dollar weakness and possible intervention The September Fed rate cut is a step closer The US inflation report for June managed to produce a downside surprise. Despite the headline figure failing to breach the 3% level, the first negative month-on-month change since June 2020 and lower shelter CPI print allowed the market [..]

Market Comment – Wounded dollar awaits inflation numbers

Posted on July 11, 2024 at 7:57 am GMT

Powell’s testimony dents the dollar US CPI data could deepen the wounds Pound gains as BoE’s Pill dampens August cut bets Wall Street at new highs, gold gains as well Dollar softens ahead of CPI data The US dollar drifted south against most of its major peers on Wednesday, gaining some ground only against the yen, the franc, and the kiwi. What may have allowed dollar traders to maintain their short positions was Powell’s testimony before the House Financial Services [..]

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