Precious metals
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Silver analysis: precious metal takes out $30
Our silver analysis suggests that the precious metal could potentially rise far beyond the $30 level, if the recent gains by gold and copper are anything to go by and in light of the big technical breakout from a multi-year consolidation pattern.
Silver analysis: Precious metal about to break $30 barrier
Following the release of more disappointing US data, silver now looks poised to hit that key $30 level and potentially rise far beyond that level, if the recent gains by gold and copper are anything to go by.
Gold forecast boosted by weaker US dollar ahead of CPI
How is the metal likely to react to today’s CPI data? Well, it may not be quite straight forward as I have explained in this article. CPI is expected to have moderated in April to 3.4% y/y from 3.5% previously.
Gold forecast remains positive as metal eases on profit-taking
Today’s 1% drop in gold prices appears to be driven by profit-taking, as it comes amid a quiet day for data and follows a decent 2.5% rally last week. However, our gold forecast remains bullish, with the precious metal potentially heading towards its third consecutive month of gains.
Gold forecast remains bullish despite dollar strength this week
The greenback was higher again at the time of writing, which partly explains the earlier weakness in metals prices. Despite that, though, gold and silver recovered from their earlier weaknesses along with equity indices once US investors entered the fray.
Gold and silver analysis: Grey metal poised for fresh breakout
Silver breaks bull flag resistance trend to signal potential trend resumption following the big rally in early last month.
Gold analysis: Outlook remains positive despite post NFP drop
Gold remains in dip-buying mode but fresh bull signal needed. On Friday, NFP and ISM services PMI both came in weaker although gold couldn't break out. Economic calendar is lighter for US data in the week ahead.
Gold and silver analysis: XAG/USD nears major support
Precious metals have been hit by profit-taking, strong USD and reduced rate cut bets in recent weeks. However both gold and silver remain in dip-buying mode, with prices no longer extremely overbought. Silver technical analysis suggests that XAG/USD could rebound from breakout area circa $25/$26 zone.
Gold analysis: Metal ready to take off again?
Gold analysis: Metal remains fundamentally support, so we could see a renewed rally. This week’s macro highlights include FOMC policy decision, NFP and ISM PMIs. Gold technical analysis shows prices respecting the 21-day exponential moving average.
Gold analysis: Can metal start rising again now?
Has gold selling already or nearly done? Gold remains fundamentally supported in the long term, although there is room for further correction. Gold technical analysis shows prices are no longer as overbought as a couple of weeks ago.
Gold analysis: Balancing geopolitical risks and rising dollar, yields
Gold investors face key dilemma as rising geopolitical risks could keep gold supported on dips, but even higher yields continue to increase the opportunity cost of holding gold. Gold technical analysis point to overbought conditions, so a bit of short-term weakness should not come as surprise.
DJIA analysis: Risk off as stocks plunges and even gold reverses
DJIA analysis: Stocks tumble on Middle East jitters, as VIX spikes. US dollar has also extended its rally on reduced rate cut expectations and risk off sentiment. Meanwhile, gold looks like it may have topped out.
Gold analysis: Charts point to extreme overbought levels – Technical Tuesday
Gold analysis: Technical levels and factors to watch on gold as the metal hits a fresh record high. But at these extremely overbought levels, do watch out for a possible correction. Gold's resistance against rising yields may be short-lived.
Gold technical analysis: Overbought conditions need addressing
Gold's weekly RSI above 75 is too high for bulls to be comfortable with following its big rally. Additionally, gold may be unable to defy rising yields for too long, as it increases the opportunity cost of holding gold. US CPI coming up later in the week could trigger the next big move in gold.
Gold analysis: Overbought metal could be hit by profit-taking as silver breaks out
Precious metals again disregard rising yields, as silver stages big breakout and gold rallies to a new record high. Gold technical analysis suggests yellow metal is at extreme overbought levels.
Gold analysis: Metal looking over-stretched after big rally
Gold within $5 shy of $2300 in another record hitting session after the ISM PMI missed expectations. Gold technical analysis suggests metal is looking overbought and that a pullback could be on the way soon.
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 and silver analysis: Technical Tuesday, March 26, 2024
Welcome to another edition of 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 week’s report, we will get technical on precious metals.
Gold outlook remains positive despite dollar strength
While gold displayed mild bearish price action, leading to some calls that it may have peaked, I am unequivocally convinced that its long-term trajectory remains bullish, and it is conceivable that prices could soon reach unprecedented highs again.
Gold analysis in focus as FOMC day arrives
Gold has been falling back in the past week and a half after hitting a record high at $2195. The key question is whether today’s FOMC policy decision will cause it to fall back even further, or will it trigger a fresh wave of buying that could propel the precious metal towards a new all-time high.
USD/JPY, Gold and GBP/USD analysis - Forex Friday, March 15, 2024
Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the US dollar, Japanese yen, gold and the pound ahead of a busy next week for central banks.
Commodities warning of shifting directional price risks
Gold, copper, silver, crude, cocoa – it’s a rarity to not come across a particular commodity that’s suddenly running hard. Every day there seems to be another one joining the increasingly lengthy list, providing a sense we may be at a turning point for the broader commodity complex.
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.