gold

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Technical Analysis – Gold snaps an improving pose ahead of the uptrend line

Posted on April 8, 2020 at 7:52 am GMT

Gold appears to have found some footing at the 1,643 level from March 26 as it creeps towards a very short-term uptrend line drawn from the 1,455.17 low of March 20. Although the simple moving averages (SMAs) are not giving the strongest and clearest trend signals, they do lean slightly to the positive picture, specifically the 50- and 100-period SMAs. That said, the short-term oscillators are suggesting that positive directional momentum may be starting to pick up. The MACD, in [..]

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Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:53 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe   Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]

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Technical Analysis – Gold’s latest optimism looks to restart positive picture

Posted on April 6, 2020 at 7:41 am GMT

Gold’s fresh confidence is currently pushing off the 1,607 level – that being the 61.8% Fibonacci retracement of the down leg from 1,703.36 to 1,451 – following the recent positive sessions which commenced on April 1 from 1,566. Backing an improving near- and medium-term picture are all the inclining simple moving averages (SMAs) as well as the short-term technical indicators. The MACD has remained above zero and is expanding above its red trigger line, while the RSI is hovering above [..]

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Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]

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Technical Analysis – Gold bulls to stay in charge until trendline breaks

Posted on April 2, 2020 at 8:01 am GMT

Gold found strong footing near 1,450 and the upper surface of the Ichimoku cloud on the weekly chart and reversed north again, retaining its bullish structure in the long-term picture. Currently, the price is eating a portion of the bold gains it earned last week and the RSI and the MACD are providing little hope of another rocky rally in the short-term as the indicators are lacking positive momentum. Still, the market seems to be well supported by the ascending trendline [..]

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Daily Market Comment – Dollar firms, stocks dive again as US virus cases soar

Posted on April 1, 2020 at 8:41 am GMT

Risk sentiment sours again on mounting virus fallout, pulling stocks lower Manufacturing PMIs heighten recession fears; US ISM PMI next in focus Fed tries to ease dollar funding pressure but unable to keep currency down for long Stocks head south as virus panic returns It was a poor start to the second quarter for stock markets around the world as the growing coronavirus pandemic shows no sign of slowing, with the number of cases globally shooting past 800,000 yesterday. Stocks [..]

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Daily Market Comment – Dollar edges up, stocks muted in cautious start to week

Posted on March 30, 2020 at 8:32 am GMT

Stocks steady somewhat after Friday’s dip Dollar heads higher after worst week since 2009 Oil skids again; Brent hits 17-year low as world economy shuts down US stock futures attempt to rebound; risk of increased volatility Wall Street was unable to extend its winning streak to a fourth day on Friday but still managed to post its strongest week since 2009. Stocks had been steadily rising after a big gap lower at the open but went into reverse after the [..]

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Will endless QE push gold to new records? – Special Report

Posted on March 26, 2020 at 3:47 pm GMT

Gold’s reputation as the ultimate safe haven asset took a real beating lately, as the collapse in stock markets forced investors to ‘sell everything’ in order to meet margin calls. Yet, that might be about to change. With central banks unleashing a tsunami of quantitative easing (QE) at a time when fear is running rampant in the markets and government debts are about to explode, this seems like the perfect cocktail that could push gold back to record highs. That [..]

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Technical Analysis – Gold approaches 2-week high; recoups strong losses

Posted on March 26, 2020 at 2:10 pm GMT

Gold prices continue to rise above the simple moving averages (SMAs), towards the two-week high of 1,638, stretching its upward movement from the four-month trough of 1,451.  According to the RSI, positive momentum could push for further gains in the short-term as the indicator picks up steam near its overbought zone. The stochastic oscillator is also advancing, creating a bullish crossover within its %K and %D lines. Also, the 20-period SMA crossed above the 40- and 100-period SMAs, confirming the [..]

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Daily Market Comment – US jobless data: A trial by fire for markets

Posted on March 26, 2020 at 9:42 am GMT

US jobless claims today will reveal how much economic damage the virus has already inflicted Make or break moment for stocks – a worse than feared number could quash the recent recovery Yen leads, aussie lags as risk aversion slowly creeps back into markets US jobless data could derail the latest recovery Economic data finally comes back into the spotlight today, as the number of Americans filing for unemployment benefits last week will give us a taste of just how [..]

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