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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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...
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.