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Gold attempts breakout as yields dip
Investors appear convinced the Fed will slow down rate hikes despite officials indicating otherwise.
Gold, dollar steady ahead of ISM services PMI as yields push higher
Let’s see if today’s US data or Fed speeches will cause more volatility in bond – and, in turn, gold – prices.
Gold looking to extend rally as yields and dollar retreat
Will we see precious metals make further ground this week?
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Gold holds post-FOMC bounce ahead of GDP
Expectations that inflation will soon peak and that the economy will deteriorate further points to a contractionary monetary policy stance from the Fed in 2023
Silver: Can precious metals rebound despite Fed tightening?
We are seeing some mild dollar selling ahead of FOMC, which is boosting the appeal of precious metals, yen and franc
Two trades to watch: Gold, DAX
Gold rises ahead of Fed rate decision. DAX rises despite consumer confidence dropping to a record low.
Gold steady ahead of FOMC - potential breakout in focus
Gold is holding above support ahead of today's FOMC meeting, and shows the potential for a continuation breakout.
European Open: FTSE falters at resistance, gold steady ahead of FOMC
Another reversal pattern has formed at a key resistance level on the FTSE 100, whilst gold shows the potential for a continuation breakout.
Bond markets signal end of aggressive tightening near
Gold and silver stand ready for a potential comeback…
Precious metals start busy week firmer
Investors know that front-loading of interest rates around the world is only going to bring a potential recession – and therefore interest rate cuts – sooner.
Commitment of traders report (COT): Bulls return to the yen
Whilst traders remain heavily net-short Japanese yen futures, we’ve taken note that gross longs have risen to their highest level since March 2021.
Two trades to watch: FTSE, Gold
FTSE rises, retail sales slip less than forecast. Gold set for first weekly gain after 5 weeks of losses.
European Open: Has gold finally found a floor?
We warned of potential support in yesterday’s gold wrap report, and price action since appears promising that a swing low is in the making – at least over the near-term.
Gold Wrap: 1700 gives way, but key support awaits
Momentum is clearly pointing lower for gold, but we’re keeping an eye on the monthly charts as we head into August due to a potential level of support.
Gold edges closer to the trap door. Will it fall or recoil?
Fresh cycle lows for gold today as it printed a low near $1683, a level not seen since August of 2021.
Will gold stage a recovery from $1700 key support?
Gold bulls were hoping to see an end to the 5-week losing streak
Gold rises, dollar slumps despite hot CPI
Hot CPI readings may hurt the economy so badly that the Fed may start cutting rates again in as early as Q1
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European Open: UK data dump, BOC meeting and US inflation on tap
UK data kicks off at 07:00 BST, with final CPI reads for Europe, a BOC interest rate decision and the all-important US inflation report.
Multi-decade highs in DXY continues to push Gold lower
The two assets currently share a correlation coefficient of -0.96, a very strong negative correlation. Therefore, if the DXY continues to move higher, one could suspect that XAU/USD will be moving lower!
Two trades to watch: Gold, USD/CAD
Gold remain below 1750 ahead of the NFP. USDCAD rises above 1.30 with US & Canadian jobs data in focus.
European Open: Boris Clings on, gold buckles under its own weight
Boris Johnson has vowed to fight on despite 44 government officials now resigning over his refusal to resign. Gold breaks another key level and continues to appear weak.
Recession Trade Keeps Risk Assets Under Pressure
Fears over a recession continues to drive financial markets, with commodities feeling the heat
Volatility subsides in Asia, Gold plunges through $1800
Volatility seen across European markets have yet to make their way to Asia. Yet gold’s notable crash through 1800 is yet to tempt any meaningful bids.