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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 22, 2024 05:47 PM
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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 01:40 AM

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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 13, 2024 04:00 PM
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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 10:37 AM
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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 29, 2024 03:35 PM
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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 22, 2024 04:00 PM
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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 11:18 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 outlook still positive despite slow start

Gold's long-term view remains bullish as the dollar and yields dip with investors pondering over mixed data ahead of CPI. Gold technical outlook – bullish trend still intact despite weaker start to 2024.

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January 8, 2024 03:30 PM
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Gold analysis: Investors await CPI and Fed as metal tests key support

Gold analysis: All eyes on US inflation and FOMC, don’t forget about BoE, ECB and SNB meetings later this week. Gold technical analysis suggests a bounce back may be on the cards as it test a key level ahead of these macro events.

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December 12, 2023 11:00 AM
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Gold outlook dimmed by stronger US data ahead of CPI and FOMC

It was a textbook reaction in gold in response to the stronger jobs and consumer sentiment data, with the metal falling, dollar and yields rising. It fell from around $2020 to a low so far of $2002. While down, it is certainly not out. It was only on Monday when it hit a new record high, albeit a short-lived one. Still, the downside could well be limited, especially if we see more evidence of waning inflationary pressures around the world.

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December 8, 2023 04:45 PM
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Gold analysis: Precious metals, stocks climb as yields and dollar drop

Gold was up nearly 1.3% by late afternoon trading in London, near $2040 while silver was closing in on the $25.00 level. The precious metals have been supported by two factors: Bond yields and US dollar, both falling.

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November 28, 2023 04:52 PM
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Gold and silver analysis: Silver looks set to resume rally?

Gold and silver should remain supported on the dips amid peak interest rates narrative, with the latter likely to be more active given that we are in a positive market environment with stocks also rising.

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November 20, 2023 04:31 PM
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Gold and silver analysis: US CPI sends dollar and yields sharply lower - Technical Tuesday

US inflation turned out to be weaker than expected on both the headline and core fronts, and the market’s response was a swift one. We saw gold and silver rise, as yields and the dollar dropped, while index futures jumped with the pace of the rally gaining further momentum once the cash markets opened on Wall Street.

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Gold analysis: Metal extends drop to test key support

Markets have been very quiet in the last couple of days, with the lack of any major data causing stocks to drift higher, extending their recent trend, while the dollar has drifted back higher following last week’s data-driven sell-off. As a result, gold and silver have weakened so far this week. But are we now going to see a recovery?

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November 9, 2023 12:00 PM
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Gold analysis: Is silver about to outperform gold?

Precious metals prices have weakened over the last couple of weeks, following gold’s impressive +7% gains in October, and silver’s not-so-impressive 3% rise. Last month’s gains for gold were mostly driven by safe-haven demand as the flare up in the Middle East conflict saw investors rush out of risk-sensitive assets.

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November 8, 2023 04:29 PM
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Gold falters around $2,000, although seasonality could be on its side

Gold enjoyed its best month in seven in October, with its 7.3% rise forming a clear bullish engulfing candle and was its third best month of the year. Whether it can extend its rally and make a run for a new record high remains to be seen, but we have seen gold failed around the $2075 highs three times since 2020. What would be so different this time?

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Gold analysis: precious metals extend rally on Middle East jitters

Precious metals have stood out in the past two weeks and today saw gold hit levels last seen in May and silver reached its best level since September. The yellow metal was about $7 shy of the $2K mark at the time of writing. With gold breaking above the July high of $1987, the key question is can it hold above here, or do we quickly go back below it?

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October 20, 2023 04:55 PM
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Gold outlook: Has the metal run too far too fast?

Gold and silver continued their fine form on Tuesday, with the yellow metal adding another 1.8% to its recent gains. At nearly $1960, gold is now at its best level since late August. But is the good run of form about to end?

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October 18, 2023 03:30 PM