Precious Metals Market News
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Gold short-term price outlook: XAU/USD breakout pending
Gold prices are in consolidation just below uptrend resistance- battle lines drawn into the monthly close. The levels that matter on the XAU/USD technical charts.
Forex Friday: Risk OFF
In this week’s edition, we discuss the yen, gold, dollar and yields
Gold price rallies as SVB failure casts doubt for Fed rate hikes
Developments coming out of the US may keep the price of gold afloat as the update to the US Consumer Price Index (CPI) is anticipated to show slowing inflation.
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Gold short-term price outlook: XAU/USD reversal gathers pace
Gold is poised to mark a third consecutive daily advance with price now approaching a key pivot zone. The levels that matter on the XAU/USD short-term technical charts.
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 fails to defend March opening range
The price of gold may continue to give back the rebound from the February low ($1805) as it fails to defend the opening range for March.
Gold price rebound keeps RSI out of oversold territory
The price of gold may stage a larger rebound over the coming days as the Relative Strength Index (RSI) appears to be reversing ahead of oversold territory.
Two Trades to Watch: EUR/GBP, Gold
EUR/GBP looks to a new Brexit deal. Gold falls ahead of US durable goods orders.
Gold finds relief but risks tilted to downside
But will today’s FOMC minutes match the recent hawkish Fedspeak? And – more importantly for gold traders – will the dollar and yields have further to run on the Fed story?
Two Trades to Watch: EUR/USD, Gold
EUR/USD rises ahead of German IFO business climate data & FOMC minutes. Gold awaits the Fed minutes.
Gold extends drop on strong US data
Retail sales become latest data to beat expectations, adding to sticky inflation narrative
Two trades to watch: GBP/USD, Gold
GBP/USD rises after UK wages increase. Gold awaits US inflation data.
Gold price forecast hinges on response to 50-Day SMA
The price of gold may continue to give back the advance from the January low ($1824) if it struggles to hold above the 50-Day SMA ($1855).
Is gold set for a ‘sympathy bounce’ towards 1900?
Whilst we suspect gold could eventually head for $1800, it shows the potential to revert to $1900 first.
Precious metals remain under pressure
Investors now expect the Fed to maintain contractionary policy longer than expected to dampen inflationary pressures arising from tight labour market.
Two trades to watch: USD/CAD, Gold
USD/CAD falls ahead of speeches from Fed Chair Powell & BoC’s Macklem. Will Gold fall after Powell’s speech?
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#EURUSD bullish trend intact as key data eyed 👉 https://t.co/1MachzH290 • Price in consolidation after recent gains • Traders eye German CPI and US Core PCE Price Index • Diverging policy between ECB and Fed points to appreciation in exchange rate #FX | #Trading | https://t.co/G4Reyj802C
5:44 PM − 29 Mar 2023
How much higher can gold move?
By the reaction after today’s ECI, it looks like gold bugs still mean business.
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Markets steady ahead of GDP, earnings and CB meetings
There are still a few important macro pointers that investors will be watching this week ahead of a very busy next week
Gold could be next as silver takes a plunge
Gold has not formed a bearish reversal signal yet, although silver’s sharp drop today may be a warning for what’s to come.
Silver’s rally has been strong, but a pullback could be due
Silver prices have rallied nearly 40% since the September low, yet key resistance looms around $25 and a multi-week bearish divergence is forming.
Currency markets pause for NFP, Equities pull back
Today’s NFP report is the main event for traders, and the consensus forecasts is for headline job growth to soften to 200k (261k previously), and the unemployment rate remain at 3.7%.
What’s next for the highly correlated assets of Gold and DXY?
As long as this correlation holds, traders can get clues as to where Gold may be headed based on the direction of the DXY.
A guide to the gold silver ratio
Find out everything you need to know about the gold-silver ratio, including what it is, how to calculate it and how to use it to find trading opportunities with the two precious metals.
