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, 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.
Silver forecast: Metal heading to $25?
Falling US dollar is boosting the silver forecast, along with gold and copper. Precious metals have had a great month so far and that run could continue.
Why trade with FOREX.com?
Tight spreads on 80+ FX pairs
Nearly 2,500 markets including Stock CFDs, Indices & Commodities
Award-winning platforms with fast & reliable execution
Asian Open: Ukraine crisis weighs on Europe, Silver bulls eye $26
European equity markets and the euro currency sustained heavy losses on Friday as fighting in Ukraine showed no signs of receding.
European Open: FTSE struggles at 7600, silver tries to carve out a low
Whilst the FTSE has been one of the stronger performers during a risk-off period for equities, 7600 remains a level which defies its next breakout.
Asian Open: The Dollar Retains Dominance, Yet Silver Defies Its Strength
The US dollar extended gains against all its major peers. Yet that didn’t prevent silver from breaking above $25 and confirming a multi-month reversal.
Asian Open: It’s Raining Yen, Hallelujah
If weekend reports are to be believed, large stimulus packages are to be announced in Japan which include cash handouts to all children aged 18 and below, regardless of household income.
[Video] Silver Rally Falters Below $25
Silver’s short-covering rally has covered an impressive 15% rise over the past 17 session, suggesting it may be time to mean revert.
Asian Open: USD Lower Despite Strong CPI and Hawkish Fed
It appears to be a case of “buy the rumour, sell the fact” for the US dollar, as prospects of higher inflation effectively confirming a November taper and earlier hike sent the dollar lower.