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EUR/USD firms up ahead of US CPI, gold appears hesitant to reclaim 2400

It seems there is already excitement in the air for a soft CPI report, with EUR/USD rising in today’s Asian session. But if CPI delivers an upside surprise, gold may be the better bet for bears over the near term.

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July 11, 2024 04:24 AM
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Gold, silver, copper could break to new highs if Powell, CPI allow

Key risk events this week include Jerome Powell’s testimony to the Senate Banking Committee on Tuesday and a CPI report. Should Powell strike a dovish tone and CPI data come in soft, gold, silver and copper could be poised to rally.

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July 8, 2024 04:13 AM
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Silver leads the breakout for gold, but resistance looms

Silver broke above $30 to reach a 9-day high today, before gold tried to mimic its move with limited success. And with silver stalling around resistance, I remain suspicious of the move higher on gold.

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June 20, 2024 07:05 AM

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Gold Wrap, Silver Lining: June 11, 2024

A multi-timeframe view of gold suggests $2600 could be its next upside target on its way to $3000 (just don't hold your breath). For now, gold and silver could find some support ahead of a key US inflation report and FOMC meeting.

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Gold, copper, silver forecast: Metals drop on NFP, China concerns

Concerns over China and a hot labour market report in the US caused metals to fall sharply. However, the long-term gold forecast remains positive despite the recent struggles, even if prices were to weaken further in the short-term outlook.

Gold nuggets

The mild rebound for gold and copper wreaks of a dead-cat bounce

Gold and copper have made mild attempt to recoup last week's losses, which puts us on alert for a potential 'dead cat bounce'. Whilst silver’s rebound has been much more impressive, resistance looms.

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Gold outlook: inflation data takes centre stage as metal consolidates

This week’s key data is the core PCE price index, due on Friday. Ahead of it, gold may remain in a consolidation phase. Whether we see further short-term weakness following last week’s 3% drop doesn't significantly alter the long-term bullish gold outlook.

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May 28, 2024 05:43 PM
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Gold outlook remains positive as traders eye key US data

Gold outlook remains fundamentally supported in the long term as discussed in this article. In the short-term, traders are awaiting the release of US GDP and Core PCE data this week, ahead of NFP next week. Meanwhile, technical analysis shows the metal is finding some renewed support around its 21-day exponential average.

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April 25, 2024 12:14 PM
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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 10:30 AM
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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 26, 2024 11:24 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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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 5, 2024 02:45 PM
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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 5, 2024 02:45 PM
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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 01:16 AM
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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 6, 2023 04:00 PM
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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 03:41 AM

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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.

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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 22, 2023 03:49 PM
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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 02:31 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 04:03 AM