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Gold forecast: XAU/USD extends losses amid strengthening yields, dollar
For now, the ongoing hawkish repricing of US rates after Trump's emphatic victory is keeping US dollar and yields underpinned, and buck-denominated gold undermined.
Bets against gold are perking up, prices retreat from record highs
It has certainly felt like a one-way bet for gold bulls recently. But with short bets rising an early signs of a pullback on gold prices, perhaps the trend needs a break.
Gold, silver, copper: September cranks up the vols for heavy metals
Gold, silver and copper were dragged lower with appetite for risk on Tuesday, although it may be the latter two which show the greater potential for bears going forward.
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Gold, silver, copper: A dovish Fed hold be just the ticket for bulls
Bond traders are stepping back into the market on bets that the Fed will deliver a dovish hold today, which weighed on the US dollar and supported gold, silver and copper ahead of today’s FOMC meeting.
Gold was overbought weeks ago, according to this measure
Gold futures traders waded into the metal ahead of the record high set last week. But if we adjust large speculative positioning for open interest, it turns out they reached a record level of bullish exposure five weeks ago.
EUR/USD firms up ahead of US CPI, gold appears hesitant to reclaim 2400
It seems there is already excitement in the air for a soft CPI report, with EUR/USD rising in today’s Asian session. But if CPI delivers an upside surprise, gold may be the better bet for bears over the near term.
Gold, silver, copper could break to new highs if Powell, CPI allow
Key risk events this week include Jerome Powell’s testimony to the Senate Banking Committee on Tuesday and a CPI report. Should Powell strike a dovish tone and CPI data come in soft, gold, silver and copper could be poised to rally.
Silver leads the breakout for gold, but resistance looms
Silver broke above $30 to reach a 9-day high today, before gold tried to mimic its move with limited success. And with silver stalling around resistance, I remain suspicious of the move higher on gold.
Gold Wrap, Silver Lining: June 11, 2024
A multi-timeframe view of gold suggests $2600 could be its next upside target on its way to $3000 (just don't hold your breath). For now, gold and silver could find some support ahead of a key US inflation report and FOMC meeting.
Gold, copper, silver forecast: Metals drop on NFP, China concerns
Concerns over China and a hot labour market report in the US caused metals to fall sharply. However, the long-term gold forecast remains positive despite the recent struggles, even if prices were to weaken further in the short-term outlook.
The mild rebound for gold and copper wreaks of a dead-cat bounce
Gold and copper have made mild attempt to recoup last week's losses, which puts us on alert for a potential 'dead cat bounce'. Whilst silver’s rebound has been much more impressive, resistance looms.
Gold outlook: inflation data takes centre stage as metal consolidates
This week’s key data is the core PCE price index, due on Friday. Ahead of it, gold may remain in a consolidation phase. Whether we see further short-term weakness following last week’s 3% drop doesn't significantly alter the long-term bullish gold outlook.
Gold outlook remains positive as traders eye key US data
Gold outlook remains fundamentally supported in the long term as discussed in this article. In the short-term, traders are awaiting the release of US GDP and Core PCE data this week, ahead of NFP next week. Meanwhile, technical analysis shows the metal is finding some renewed support around its 21-day exponential average.
Gold analysis: precious metal ignores dollar, yields strength
Key factors precious metals traders will be watching for the rest of this week are discussed in this article. US dollar and yields rise following on hawkish comments from the Fed’s Christopher Waller, but this has not prevented gold from rising back above $2200. Technical analysis point to new records for gold.
Gold forecast: Pullback on the radar - just don’t expect Armageddon
Looking at an equal-weighted gold basket against FX majors, its bullish character has certainly changed since breaking above its previous ATH.
Gold, silver and copper analysis: Metals rally on China optimism and weaker dollar
Gold, silver and copper all rally as US dollar drops despite hot inflation, with base metals finding additional boost from optimism about Chinese demand. Silver analysis suggests the grey metal could be in for more gains, while gold analysis point to a new record high.
Gold analysis: Metal heading back to sub-$2K?
Gold bears are in charge amid a hawkish Powell and FOMC, and follows a strong NFP report. We ISM PMI coming up next but don’t expect a quick US dollar reversal unless the data is super bad. Gold technical analysis point to a potential drop towards, if not below, $2K.
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Gold analysis: Metals bounce back as dollar eases on mixed NFP data
Revisions to past NFP data takes shine off headline beat, sending metals higher as the dollar retreats. Gold technical analysis: $2030ish support holds for now, eyes turn to $2075/80 resistance area...
Gold on a sec… gold just posted its highest monthly close on record
Gold just posted its highest monthly close on record, and now trades less than $40 from its record high set in May. With seasonality on its side, I suspect another crack at the record high could be in order. Although it does run the risk of a shakeout around the milestone level.
Gold analysis: Metal falls back as yields rebound
Gold spent the whole of last week consolidating its sharp 7% rise recorded in October, ending a run of three consecutive weekly gains. The precious metal has struggled to move north of the key $2000 mark, though the metal hasn’t exactly sold off yet.
Dollar analysis: EUR/USD, DXY and Gold in focus - Technical Tuesday
Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this edition of Technical Tuesday, we will analyse the EUR/USD, Gold and the Dollar Index.
Stimulus and seasonality could power mining sector gains
A trade idea to play what what is traditionally strong period for mining stocks.
Gold may be lower against the dollar, but it’s holding up elsewhere
Despite competing with the strength of the dollar, gold has been trading higher against all other major currencies since its low in August. This could suggest that gold is acting as a safe haven, even if it is not immediately obvious from the XAU/USD chart.