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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
Gold nuggets

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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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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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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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.

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March 14, 2024 01:26 PM
Gold nuggets

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 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
Gold nuggets

Gold and silver analysis: Can silver follow gold higher?

Silver may be about to play catch up with yellow metal, after a multi-year consolidation. For this week, all eyes are on US CPI which could impact the direction of dollar and therefore gold and silver. Silver technical analysis point to a potential breakout towards $30.

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March 12, 2024 12:00 AM
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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.

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Gold analysis: Metal nears fresh record but can rally sustain itself?

What factors have contributed to the metal’s ascend? Coming up later in the week, we have Powell's testimony and February jobs report to look forward to. For now, gold technical analysis point higher and suggest we could see a new record high soon.

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Silver surge sparks speculation over potential super squeeze

Silver has recorded its largest gain in months, sparking plenty of excitement on social media and other investment platforms that the move may be the start of a prolonged price rally.

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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

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February 23, 2024 04:47 AM
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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.

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February 19, 2024 12:40 PM
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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.

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February 14, 2024 03:00 AM
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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.

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February 1, 2024 09:37 PM

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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.

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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.

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January 30, 2024 02:35 AM
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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.

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Gold analysis: Metals down, oil up and US stocks hit fresh highs

Today saw US equity markets hit fresh highs, crude oil recovered from early weakness and safe-haven gold remained out of favour. The risks to global supplies driven by tensions and violence in the Middle East continue to provide support for oil on the dips. But we are also in a positive risk sentiment, with three major US indices all breaking to fresh unchartered territories today as the tech-fuelled rally continues.

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January 23, 2024 03:00 AM
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Gold, USD/JPY analysis: Dollar in focus as CPI looms

Gold analysis: in this article I have discussed how to trade the metal around CPI release. USD/JPY analysis is also discussed, with technical levels to watch. Meanwhile CPI is seen rising to 3.2% from 3.1%.

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January 11, 2024 10:18 PM
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Gold forecast: Seasonals point to Jan gains, or did gold peak to soon?

January is usually a decent month for gold prices looking at this seasonality chart. But with gold rallying each month in Q4 and failing to hold onto gains above the prior record high, has it peaked too soon to expect another strong month?