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.
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.
USD/ILS to Seven-Year High; Gold, Oil Rally as Geopolitical Tension Jumps
Markets started the week on edge as geopolitical tensions have increased, leading to a bounce in both gold and oil prices.
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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.
US Dollar Technical Forecast: EUR/USD, GBP/USD, Gold, USD/JPY
The focus shifts to the Fed next week, with the big question as what the bank sees on the horizon for the rest of the year. US data has remained hot but there are minimal expectations for any actual moves next week.
Gold Prices Test Key Support as USD Strength Drives to Fresh Highs
Gold prices are testing a massive spot of support above the 1900 handle, even as the US Dollar jumps to fresh highs. Can gold bulls turn a support test into a swing?
Pre-CPI US Dollar Price Action Setups: EUR/USD, Gold, USD/JPY
The US Dollar is holding near resistance ahead of high-impact data, with tomorrow’s CPI release followed by the Thursday ECB rate decision, and then next week’s FOMC meeting.
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.
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.
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.
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.
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.
Gold Short-term Price Outlook: XAU/USD Breakout Setup- FOMC on Tap
Gold has carved a well-defined monthly opening-range just above support- breakout imminent. The levels that matter on the XAU/USD short-term technical charts into FOMC.
Gold Price Forecast: XAU/USD Bears Face First Major Hurdle
Gold prices are attempting to snap a three-week losing streak after plunging more than 7% off the high. Levels that matter on the XAU/USD weekly chart heading into June.
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...
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.
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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Gold Short-term Price Outlook: XAU/USD Plunge Searches for Support
Gold plummeted more than 6% off the highs with a break of the May range threatening further losses. The levels that matter on the XAU/USD short-term technical charts.
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.
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.
Gold price forecast: Did XAU/USD Just Top?
Gold prices surged to record highs on the heels of the FOMC- previous attempts to mount this ceiling have not been fruitful. The levels that matter XAU/USD weekly chart.
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.
Gold short-term price outlook: XAU/USD vulnerable to larger setback
Gold prices rebounded off monthly-open support this week but remains vulnerable to a larger bull market correction. The levels that matter on the XAU/USD technical charts.