Precious Metals Market
Gold Weekly Forecast: XAU/USD Nears February Highs, Inflation in Focus
Gold is carrying short-term bullish momentum into the coming week, with potential for a move up toward the 2024 highs in the $2060 area.
Gold analysis: Rising yields could send metal below $2,000 again
The opportunity cost of holding gold rises with bond yields on the rise on stronger and amid a racier US equity market. Gold technical analysis suggests a potential break below $2015 could initiate renewed selling pressure
Gold analysis: Short-term outlook remains murky despite bounce
Given that the odds of rate cuts have been trimmed by hotter inflation data last week, this is increasing the opportunity cost of holding gold over bonds. Therefore, the short-term gains could evaporate soon. Gold is more likely to hit new records closer to time of rate cuts, though.
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Gold didn’t last long below $2000 despite higher US yields and dollar
Higher bond yields, stronger US dollar, no major escalation in geopolitical tensions in the Middle East. It’s the kind of backdrop you wouldn’t expect gold to thrive in. But its first probe below $2000 per ounce in 2024 didn’t last long, rebounding strongly to push back into the range it’s been operating in since mid-December.
Gold Price Forecast: XAU/USD Bulls Respond to First 2024 Test Below $2k
Gold has been resilient so far in 2024 even as USD strength re-appeared. The big question now is whether bulls can find a more favorable outcome on tests of resistance at $2,032 or $2,050.
Gold, crude oil looking heavy despite reversal in bond yields, US dollar
Gold and crude oil are looking heavy despite a large reversal in US bond yields from the highs struck on Tuesday, unable to find any meaningful traction despite the improvement in risk appetite and softer US dollar.
U.S. Dollar Price Action Webinar: DXY, Gold, Bitcoin, FX Majors
The U.S. Dollar set another fresh high yesterday, extending the bullish structure that’s priced in so far this year.
U.S. Dollar Post-CPI: EUR/USD, GBP/USD, USD/JPY, XAU/USD (Gold)
The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.
Gold analysis: Metal drops below $2K on hot inflation
Bears in charge of metal amid hot CPI and hawkish Fed. Today saw US CPI print 3.1% with core CPI remaining unchanged at 3.9%, both hotter than expected, Consequently, gold sold off along with bonds and equities.
US bond yields threatening to break higher in blow to soft landing beneficiaries
US two-year Treasury yields are at risk of breaking back into the higher range they traded in prior to the Federal Reserve’s policy pivot last year, creating opportunities in markets sensitive to shifts in US rate expectations such as Australia’s ASX 200, USD/JPY and gold.
S&P 500, DJIA, Gold: How 40+ Years of Fed Rate Cuts Have Impacted Stock Markets and Gold
The start of a new Fed rate cut cycle doesn’t necessarily lead to the “obvious” bullish reaction in the S&P 500 and DJIA that the “don’t fight the Fed” mantra would have you believe... read on to see the actual data!
Gold outlook: Home on the range with significant risk events ahead
Gold held up well last week despite rising US yields, assisted in part by continued geopolitical tension in the Middle East. But in week with key inflation reports in the United States and United Kingdom, there are plenty of catalysts looming on the horizon that could shake gold from its slumber.
Crude oil drifts into pivotal level, bears circle gold: European Open
WTI crude is trying to rise for a third day in line with my bullish bias, although resistance nearby hints at a pullback at the least. Momentum for gold has turned lower, and it looks like bears may not quite be done yet.
Range highs for US yields brings reversal risk for Gold, USD/JPY
A blowout payrolls report, another pushback from Jerome Powell against excessive rate cut bets and a surprise reacceleration in US service sector activity has seen the short end of the US Treasury curve come roaring back to life with yields surging higher.
Gold Forecast: Commodity Deflation and Wall Street’s Short Positions
Read on to see how inflation and Fed policy could impact the price of commodities like gold this year!
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.
Gold Forecast: Bond yields and geopolitics on the radar as traders’ eye fresh highs
Gold’s outlook looks set to be dictated by geopolitical tensions along with the US rate outlook. Having broken its downtrend, the directional risks appear skewed to the upside near-term, putting a retest of the highs hit last year on the radar.
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Gold outlook dimmed following hawkish FOMC
Attention will turn to the BoE rate decision and US jobs data next. Today we will have the challenger job cuts and jobless claims figures to look forward to, ahead of the official non-farm payrolls report on Friday.
Gold analysis: Yields slide on weak data, but FOMC poses key risk
Following the release of disappointing US data and company earnings, we saw bond yields take a nosedive ahead of the FOMC policy decision later in the day.
EUR/USD, USD/JPY, gold analysis heading into FOMC
Implied volatility levels for gold, USD/JPY and EUR/USD are elevated heading into this month’s FOMC meeting, where traders are hoping for clues on future Fed policy.
Gold analysis: Precious metal faces stiff test
Reasons why gold has been largely out of favour so far in 2024 are discussed in this article, plus a look ahead to this week's key events including the FOMC's rate decision and non-farm payrolls report. I reckon gold is likely to continue struggling in the short-term but the longer-term outlook remains positive.
Risks for crude oil and gold skewing higher as geopolitical tensions build
Geopolitical risks in the Middle East and the US interest rate outlook will be two of the dominant market themes traders will be grappling with this week, creating the potential for renewed volatility in the likes of crude oil and gold.
Gold and Dollar analysis: Forex Friday – January 26, 2024
Thanks to the positive risk tone across financial markets, the US dollar has struggled to hold onto its gains made in response to mostly positive data showing a resilient economy. Yet, it hasn’t sold off either, with many traders expecting the FOMC and its Chairman Jerome Powell to push back against early rate cut bets next week. For this exact reason, gold has been unable to find any lasting support, with traders happy to take quick profits in either direction.