Gold

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.

Has gold selling already or nearly done? Gold remains fundamentally supported in the long term, although there is room for further correction. Gold technical analysis shows prices are no longer as overbought as a couple of weeks ago.

The bigger the rally the harder the fall? Traders dabbling in the precious metals space may be asking that exact question with gold and silver extending their losses on Tuesday after a brutal start to the week.

There has been a shakeup at the top for gold, which opened the week at the high and closed the day at the low during its worst day in two years. We also look at a potential swing trade long on WTI crude oil.

EUR/USD futures traders are on the cusp of flipping to net-short exposure, and managed funds are increasing their short exposure to gold and crude oil.

The inverse relationship between bond yields and US dollar with the gold price has broken down in 2024, meaning technicals and inflation expectations are arguably a more important driver right now.

Gold outlook remains steady, for now, even as Iran has downplayed the impact of Israel strikes. The focus turns to sticky inflation and elevated interest rates narrative, as overbought gold hardly shows any signs of a bearish reversal yet.

WTI crude oil was up over 4% during the Asian session on reports that Israel’s middles had struck a site in Iran, further fans fears of a broader-scaled war in the middle East.

Gold and silver are doing exactly what you’d expect after breaking long-running resistance. And that's before you consider fundamentals such as geopolitics, central bank purchases, limited mine development, rising inflation expectations and troubling fiscal outlooks from some of the world’s largest economies.

Gold analysis: Technical levels and factors to watch on gold as the metal hits a fresh record high. But at these extremely overbought levels, do watch out for a possible correction. Gold's resistance against rising yields may be short-lived.

Momentum is turning higher for AUD/USD during a month that tends to promote positive returns, and gold bulls continue to dominate price action as it reaches yet another record high.

Gold's weekly RSI above 75 is too high for bulls to be comfortable with following its big rally. Additionally, gold may be unable to defy rising yields for too long, as it increases the opportunity cost of holding gold. US CPI coming up later in the week could trigger the next big move in gold.

The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.

It’s not just fundamentals and technicals driving the rally across large parts of the commodity complex right now, but also a collective rethink from traders about what more than 250 basis points worth of rate cuts from the Federal Reserve this cycle will mean for the long-term global inflation trajectory.

Precious metals again disregard rising yields, as silver stages big breakout and gold rallies to a new record high. Gold technical analysis suggests yellow metal is at extreme overbought levels.

Forget focusing on the payrolls figure in the US jobs report. It’s not as important as it’s made out to be. Traders would be better off looking at unemployment and average hourly earnings data if they want to know how markets are likely to react.

Data since the Pandemic shows that NFP job growth has generally outperformed estimates and seen the prior figure upwards revised, which has played out well for US dollar bulls.