Precious Metals market
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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
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.
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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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.
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.
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.
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.
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.
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.
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%.
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?
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.
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.
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.
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.
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.
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?
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.
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?
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?
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?