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Gold rises on renewed Fed-cut bets, crude oil falters at resistance

Soft inflation figures from Canada and a poll of economists backing a June Fed cut sent gold higher on Wednesday, as traders refreshed their dovish bets. Crude oil has also faltered once more at a key resistance area.

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February 20, 2024 10:27 PM
Gold nuggets

Gold remains in demand, but less so against the US dollar

Gold is currently down -1.8% in January, and I see further downside potential due to the growing case for a stronger US dollar. But that doesn’t mean gold will fall against everything by the same degree, if at all.

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January 17, 2024 04:29 AM
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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?

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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 glistens as the US dollar plunges (XAU/USD, DXY)

It seems the dollar correction is finally underway, with the US dollar index suffering its worst single day in one year. And it shows the potential for further losses, even if it has found support for now. Gold also shows the potential to have another crack at $2000.

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November 15, 2023 02:02 AM
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Gold remains at the mercy of USD and bond yields: Asian Open – 27/09/2023

Gold prices suffered their worst day in 8 weeks on Tuesday with spot prices falling below the 200-day EMA and closing on the key $1900 level. But with gold lower against a basket of currencies, it shows gold is weaker and it's not just a case of a stronger USD or yields.

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September 26, 2023 11:48 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.

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USD/JPY, Gold, ASX 200 analysis: Asian Open – 17th August 2023

Hawkish FOMC minutes caught markets by surprise which saw US bond yields and the USD continue to rise and sending Wall Street lower for a second day. Whilst spot gold closed beneath 1900, futures have not - so perhaps support awaits). USD/JPY is soaring higher despite a warning from the MOF. And now the ASX reached my first bearish target, I’m now wondering if it can it reach for the second.

Research

EUR/USD, Gold key levels ahead of today’s US CPI report: European open

The day has finally rolled around for today’s US inflation report, which likely has the power to sway the Fed’s next interest rate decision. So today we look at key levels for EUR/USD and gold ahead of the key CPI report.

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August 10, 2023 07:28 AM
Gold nuggets

Gold Price Forecast: XAU/USD Moment of Truth at Trend Support

Gold prices snapped a four-week winning streak with XAU/USD now testing multi-month uptrend support. Battle lines drawn on the weekly technical chart.

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August 4, 2023 04:47 PM
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Gold outlook finely balanced

On Wednesday, the gold outlook dimmed further as investors assessed the main message coming from this week's Sintra conference – that more policy tightening is on the way – and decided to punish the metal further.

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Gold outlook: Metal rebounds as dollar and yields fall

While the short-term gold outlook remains murky, there is little doubt in my mind that the longer-term gold forecast is positive...

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Gold , ASX 200 Analysis: Morning brief - 29th May 2023

Wall Street posted a strong rally on Friday on reports that the debt ceiling is on track to be raised, yet gold managed to hold above key support levels and sits at a potential inflection point.

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May 28, 2023 11:53 PM
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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
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
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Gold outlook remains positive as US CPI cools

My gold outlook remains positive because the Fed is likely to start cutting rates by as early as September.

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Gold, Silver outlook: Metals break higher as yields drop

Tumbling bank stocks and a sharp slide in crude oil prices are highlighting financial stability and recession risks, underscoring our bullish silver outlook.

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May 4, 2023 05:09 PM

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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: US inflation in focus

Today’s US inflation report could be the difference between a 25bp Fed hike or pause at their May meeting, making it a key data point to watch.

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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UBS agrees to purchase Credit Suisse – what does that mean for sentiment?

Following tense weekend talks, UBS has agreed to purchase Credit Suisse by the end of the year for Fr 3 billion ($4.5 billion).

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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