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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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March 28, 2024 09:30 PM
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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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March 27, 2024 10:24 AM
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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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Gold nuggets

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.

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February 6, 2024 01:45 AM
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Gold analysis: Metals bounce back as dollar eases on mixed NFP data

Revisions to past NFP data takes shine off headline beat, sending metals higher as the dollar retreats. Gold technical analysis: $2030ish support holds for now, eyes turn to $2075/80 resistance area...

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January 6, 2024 01:45 AM
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Gold on a sec… gold just posted its highest monthly close on record

Gold just posted its highest monthly close on record, and now trades less than $40 from its record high set in May. With seasonality on its side, I suspect another crack at the record high could be in order. Although it does run the risk of a shakeout around the milestone level.

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December 1, 2023 12:16 PM
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Gold analysis: Metal falls back as yields rebound

Gold spent the whole of last week consolidating its sharp 7% rise recorded in October, ending a run of three consecutive weekly gains. The precious metal has struggled to move north of the key $2000 mark, though the metal hasn’t exactly sold off yet.

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November 7, 2023 03:00 AM
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Dollar analysis: EUR/USD, DXY and Gold in focus - Technical Tuesday

Welcome to 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 edition of Technical Tuesday, we will analyse the EUR/USD, Gold and the Dollar Index.

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Stimulus and seasonality could power mining sector gains

A trade idea to play what what is traditionally strong period for mining stocks.

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September 12, 2023 12:41 PM
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Gold may be lower against the dollar, but it’s holding up elsewhere

Despite competing with the strength of the dollar, gold has been trading higher against all other major currencies since its low in August. This could suggest that gold is acting as a safe haven, even if it is not immediately obvious from the XAU/USD chart.

Quarry and various stones

History of commodity markets

Commodity trading has grown from a physical market to a largely digital one used by traders and investors to hedge positions and speculate on the future.

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June 23, 2023 12:49 AM
Gold nuggets

Gold outlook brightens as services activity dims

Our long-term bullish gold outlook received a boost today as fresh doubts were cast over a June Fed rate hike.

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Gold forecast: Metal declines but outlook positive

Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here

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May 23, 2023 11:31 PM
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Gold outlook bullish despite short term struggles

Gold's struggle are due to profit-taking and rebound in dollar and yields -- factors likely to be temporary. Our longer-term gold outlook remains bullish.

Gold nuggets

Gold Analysis: It looks tough at the top for gold

Gold has continued to hit the headlines as it teases investors with a record high. But that doesn’t mean gains will be plain sailing from here, even if we remain bullish this year overall.

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May 11, 2023 01:03 PM
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Gold outlook: Will Fed trigger rally or sell-off?

Gold is holding above $2K ahead of the Fed & ECB rate decisions. Our bullish gold outlook remains intact heading into these events.

Research

Gold outlook: Above $2K again as dollar eases

The gold outlook has improved because of a drop in US dollar and bond yields, following the release of more disappointing US data.

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Gold outlook: Metal below $2K as dollar advances

While the metal may well extend its drop in the short-term, my longer-term gold outlook remains positive. I therefore envisage a rise to a new record high soon.

Gold nuggets

Gold outlook: Metal closes in on all-time high

Renewed weakness in bond yields and US dollar, thanks to soft US data, has brightened the gold outlook

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Silver forecast: Metal heading to $25?

Falling US dollar is boosting the silver forecast, along with gold and copper. Precious metals have had a great month so far and that run could continue.

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Copper outlook: Metal sets for potential rally

Copper is benefiting from a weaker US dollar and China re-opening

Commodity

Commodity prices forecast to be strong in 2023

The StoneX Metals and Energy Markets Annual Outlook forecasts double digit percentage increases for seven out of twelve commodities tracked.

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March 14, 2023 04:34 AM
Research

Gold finds relief as dollar rally pauses – for now

For gold to make a stronger recovery, we will have to see a surprise miss on Friday’s NFP