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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.

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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.

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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.

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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.

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March 26, 2024 01:30 AM
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AUD/USD net-short exposure reached a record high last week: COT report

An increase of bearish bets against AUD/USD pushed net-short exposure to a record high among large speculators.

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Gold Weekly Forecast: Gold eases from all time high, inflation data in focus

After spiking to an all-time high, gold prices have eased lower. Attention is on Friday's core PCE inflation data after a deluge of central bank decisions last week.

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March 23, 2024 06:56 PM
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US dollar, Nasdaq 100, Gold forward returns over Easter: The Week Ahead

We have a shorter trading week due to the long Easter weekend. As there is a lack of top-tier data, we take at how the US dollar index, Nasdaq 100 and gold have performed around this time of year.

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March 22, 2024 01:13 PM
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Gold, USD/JPY, TLT ETF: Assessing trade setups for a Fed determined to cut rates

A macro guide for screening trade setups for a higher growth, higher inflation environment, featuring a bullish breakout, a potential bullish breakout and an important market indicator.

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March 21, 2024 01:08 PM
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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.

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March 20, 2024 11:00 PM
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Crude oil consolidates bullish break, gold heavy after record run

How many rate cuts the Federal Reserve signals for 2024 could have an outsized impact on how commodities such as crude oil and gold perform longer-term.

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March 18, 2024 05:10 PM
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GBP/USD hints at sentiment extreme ahead of BOE, FOMC: COT report

With a BOE and FOMC meeting pending and net-long exposure for GBP/USD at or near a sentiment extreme, I cannot help but wonder if the pound it due at least a pullback. I also take a closer look at the US dollar index (DXY), gold and the Nasdaq 100.

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Gold Price Forecast: XAU/USD Massive Bull Run Holding Near ATH

Gold has been extremely bullish since last October’s open and as the Fed’s retained a dovish stance the yellow metal has forced a massive breakout. The big question now is whether it can continue.

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March 16, 2024 01:00 PM
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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.

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Fed must commit to finishing the inflation fight to prevent gold upside

Gold traders have a decision to make with fundamental headwinds building from a stronger US dollar and higher bond yields with the price yet to meaningfully respond. What the Fed signals next week looms as crucial for directional risks.

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March 15, 2024 12:38 PM
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GBP/USD, gold in focus for US PPI, retail sales: European Open

GBP/USD has formed a bearish reversal pattern beneath a failed breakout level, and gold looks set to retrace lower ahead of US PPI data.

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March 14, 2024 04:24 PM
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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.

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AUD/USD holds 200 EMA post CPI, gold snaps 9-day winning streak: Asian Open

AUD/USD held above its 200-day EMA and shows the potential to bounce today, alongside gold - despite the fact it snapped its 9-day winning streak.

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March 13, 2024 09:03 AM

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Gold analysis: Metal dented after stronger CPI but trend intact

Gold analysis: The precious metal weakened after a stronger than expected CPI report, but the weakness is likely to be short-lived. Indeed, the trend is still quite strong and many traders will be looking fade into short-term weakness.

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March 13, 2024 03:00 AM
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A 9-day rally on gold is rare, but it hasn’t always led to a market top

Looking back at data from the 1960s, gold has only risen nine or more days on nine occasions. And such a sequence has failed to mark a market top this century.

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March 12, 2024 01:19 PM
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AUD/USD, ASX 200 pause for breath ahead of US CPI: Asian Open

With traders eager to price in Fed cuts, today’s US CPI could bolster the US dollar and see AUD/USD and the ASX 200 pull back further if the data comes in too hot.

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USD/JPY, GBP/USD, gold analysis: COT report – March 11, 2024

The reversal on USD/JPY did not come without warning, as traders had reached a record level of net-short exposure. And whilst USD/JPY may be due for a bounce, further downside potential remains.

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Gold Weekly Forecast: Will We Get a Pullback After XAU/USD’s Surge to Record Highs?

Gold is overbought on a short-term basis, but the long-term returns hint at more room to run higher from here...

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March 9, 2024 01:00 PM
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Gold analysis: Fresh record in sight as focus turns to Powell, data

Dollar weakens as focus turns to Powell testimony and key employment data. Gold technical analysis suggests metal is about to hit a new record high.