Precious metals

Gold’s relentless 2024 rally has defied strong dollar headwinds and rising yields, smashing records and flipping traditional relationships on their head. Is it still a safe haven, or has the game changed for good?

Crude Oil, Gold Forecast: Following China’s commitment to a moderately loose monetary policy in 2025, demand sentiment for Chinese oil and gold has surged, pushing crude oil above $70 and gold above $2,700. Middle East tensions continue to reinforce support levels for these commodities as drastic regional developments unfold.

A shift in Beijing’s monetary strategy provided a boost to Chinese stocks and rippled through global markets, lifting commodity prices, including gold. Add geopolitical tensions from the Middle East to Europe, and it’s clear why safe-haven assets like gold saw a recovery. The week ahead, however, brings high-stakes events like interest rate decisions from major central banks and key US inflation data, all set to influence the gold forecast.

Gold prices (XAU/USD) have been range-bound recently, following a pullback from record highs in late October. This decline ended a nine-month winning streak, with November closing in the red. Some investors anticipate a more significant correction before re-entering the market, leading to a cautious short-term gold outlook.

After falling a big 3% last Monday, gold has been trading in tight ranges since, holding mostly within that day’s range. In other words, it hasn’t fallen any further, although it has also made little upside progress.

Gold has found some relief from a weaker US dollar and lower yields in the last couple of days, but it could come under renewed pressure as the greenback’s weakness could be temporary, while easing Middle East tension owing to the ceasefire agreement point to lower haven demand.

Bitcoin, Gold Analysis: Ceasefire agreements are transitioning from speculation to reality ahead of the holiday season and Trump’s upcoming term. Gold’s rally has stalled below the $2,700 mark as haven demand wanes, while Bitcoin has retreated slightly below the psychological $100,000 level.

Gold analysis: After the big sell-off on Monday, I will try to examine what this means for gold in terms of direction in the near-term outlook, purely from a technical point of view.

Gold, Oil Outlook: Following a period of geopolitical and USD-related uncertainty, gold’s uptrend has stalled below $2,800, while oil remains in a tight consolidation below $72. Markets are calm and appear poised for a potential spark.

Gold has started a busy week on the front-foot, after finishing last week on a downbeat note. The recovery is due in part to a weaker US dollar as investors have evidently scaled back some Trump trades – which also explains the gap seen in the EUR/USD pair we saw overnight .

The yellow metal ended Friday near its session lows, creating some bearish-looking price candles on both the daily and weekly time frames. So the near-term gold forecast is somewhat bearish ahead of the much-anticipated US presidential election and the FOMC’s policy meeting in the week head.

Gold, Silver Outlook: Gold reached a record high of $2790/ounce on October 31st before ending the month with a 60-point pullback. Is this a short-term correction or the start of a longer-term trend reversal?

Nasdaq, Gold Outlook: The Nasdaq and gold are both hovering near record highs as the market braces for a crucial week of tech earnings and economic data, just ahead of the US elections.

On Wednesday, the gold outlook dimmed further as investors assessed the main message coming from this week's Sintra conference – that more policy tightening is on the way – and decided to punish the metal further.

Now that we are seeing the bullish momentum fade somewhat, and prices remaining at significantly overbought technical levels on the higher time frames, even some of the most bullish enthusiasts would find it difficult to maintain a short-term bullish gold outlook, without first seeing a bit of a pullback in prices at the very least.

Gold prices retreated sharply after hitting a record high earlier. Did we just see a near-term top in gold prices, or was this yet another trap for gold traders speculating on lower prices?

USDJPY Forecast: Safe-haven assets are gaining traction, with the US Dollar Index surging above the 104-mark, USDJPY above 150, and silver reaching 12-year highs.