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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?
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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 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
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, 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 outlook: Above $2K again as dollar eases
The gold outlook has improved because of a drop in US dollar and bond yields, following the release of more disappointing US data.
Gold outlook: Metal below $2K as dollar advances
While the metal may well extend its drop in the short-term, my longer-term gold outlook remains positive. I therefore envisage a rise to a new record high soon.
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Gold outlook: US inflation in focus
Today’s US inflation report could be the difference between a 25bp Fed hike or pause at their May meeting, making it a key data point to watch.
Gold outlook: Metal closes in on all-time high
Renewed weakness in bond yields and US dollar, thanks to soft US data, has brightened the gold outlook
UBS agrees to purchase Credit Suisse – what does that mean for sentiment?
Following tense weekend talks, UBS has agreed to purchase Credit Suisse by the end of the year for Fr 3 billion ($4.5 billion).
Gold finds relief as dollar rally pauses – for now
For gold to make a stronger recovery, we will have to see a surprise miss on Friday’s NFP
Gold price forecast: XAU/USD bulls ramp off support
Gold prices are poised to mark an outside-weekly reversal off a key technical support pivot- bears on notice. The levels that matter on the XAU/USD weekly chart.
European Open: Traders to get another inflation fix ahead of the weekend
Markets cannot get enough of US inflation data at present and what it means for the Fed. And that means today’s PCE figures are now likely the more important.