Metals

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 spent the whole of last week consolidating its sharp 7% rise recorded in October, ending a run of three consecutive weekly gains. The precious metal has struggled to move north of the key $2000 mark, though the metal hasn’t exactly sold off yet.

Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this edition of Technical Tuesday, we will analyse the EUR/USD, Gold and the Dollar Index.

A trade idea to play what what is traditionally strong period for mining stocks.

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.

Commodity trading has grown from a physical market to a largely digital one used by traders and investors to hedge positions and speculate on the future.

Our long-term bullish gold outlook received a boost today as fresh doubts were cast over a June Fed rate hike.

Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here

Gold's struggle are due to profit-taking and rebound in dollar and yields -- factors likely to be temporary. Our longer-term gold outlook remains bullish.

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 is holding above $2K ahead of the Fed & ECB rate decisions. Our bullish gold outlook remains intact heading into these events.