After an impressive New-Year rally, what does 2020 hold for gold? – Special Report

Posted on January 15, 2020 at 3:30 pm GMT

Gold has been on a tear lately, reaching heights not scaled since 2013 to temporarily breach the $1600 an ounce level. However, with risk appetite also riding high on the back of easing trade frictions, and US and Iranian tensions appearing to have been defused for now, what is keeping the popular safe haven at such elevated levels and can the rally be sustained in 2020? Trade war and central bank easing have been positive for gold    The price [..]

Daily Market Comment – Dollar hits 110 yen after US removes China as currency manipulator

Posted on January 14, 2020 at 9:17 am GMT

US removes currency manipulator label from China ahead of signing of trade deal Yuan surges, yen slides as risk-on theme continues Wall Street hits another record as earnings season gets into full gear US-China tensions thaw further ahead of trade deal signing Relations between the United States and China got a boost on Monday after the US Treasury Department decided to no longer designate China as a currency manipulator. The announcement, which comes just two days before the two countries [..]

Daily Market Comment – Risk assets remain well bid ahead of signing of trade deal; pound slips on rate cut speculation

Posted on January 13, 2020 at 9:31 am GMT

Risk assets start week on positive note, driven by optimism of ‘phase one’ trade deal being signed on Wednesday Risk-on sentiment, along with easing Iranian tensions, weigh on safe havens; gold and yen slide Pound under pressure as more BoE policymakers join the rate cut bandwagon Trade deal optimism continues to set market tone The week got off to an upbeat start as investors set their sights on the imminent signing of the US-China trade pact on Wednesday, which is [..]

Technical Analysis – Gold retreats within Ichimoku cloud; bears take control in near term

Posted on January 13, 2020 at 7:32 am GMT

Gold has declined considerably over the last couple of trading days after the touch on the almost seven-year peak of 1,611 on January 8. The price entered the Ichimoku cloud and is capped by the bearish crossover within the short-term 20- and 40-period simple moving averages (SMAs), assuming a negative correction. The technical indicators in the 4-hour chart seem to be neutral to bearish. The RSI indicator has just dropped beneath the 50 level with nearly flat momentum, while the [..]


Technical Analysis – Gold returns lower after surpassing 1,600 in near term

Posted on January 8, 2020 at 1:09 pm GMT

Gold looks to be overbought as it returns the significant gains that it posted in the preceding days. Earlier today, the price jumped to a fresh almost seven-year high of 1,611. The technical indicators seem to be overstretched in the 4-hour chart. The RSI slipped below the oversold area and the 70 level and continues to slope down, while the MACD fell beneath the trigger line but is still moving in the positive zone. Both are indicating a possible downside [..]

Daily Market Comment – Iran attacks US bases, but risk aversion doesn’t last

Posted on January 8, 2020 at 9:16 am GMT

Safe havens spike higher, stocks drop as Iran hits US bases in Iraq Yet, risk aversion fades as both sides show little appetite for more escalation Meanwhile, dollar advances on healthy US data, aussie burned by wildfires Oil and gold jump, stock futures briefly dip after Iran strikes back Tehran didn’t take long to retaliate against the US assassination of its most powerful general, as overnight Iran attacked with ballistic missiles two military bases in Iraq that are hosting American [..]

Daily Market Comment – Geopolitical fears ease, but risk sentiment remains fragile

Posted on January 7, 2020 at 9:29 am GMT

Safe havens pull back, stocks recover as some geopolitical risk is priced out Alas, it might be only a matter of time before Middle East fears resurface – how will Iran retaliate? In economics, the ISM non-manufacturing PMI today may prove crucial for the dollar Yen retreats, stocks rebound as Middle East worries ease – for now Global risk appetite improved on Monday, with defensive currencies such as the Japanese yen surrendering some recent gains while US stocks recovered lost [..]


Technical Analysis – Gold jumps higher but strong resistance awaits near 1,556

Posted on January 3, 2020 at 11:51 am GMT

Gold prices are continuing the strong bullish rally, reaching a fresh four-month high of 1,550 today. The short and medium-term biases look positive as the RSI keeps gaining ground in the overbought territory, while the MACD completed a positive crossover with its trigger line above the zero line in the 4-hour chart. Immediate resistance to further gains would likely come from 1,556, which was last touched on September 4. If there is a successful break above this area, further resistance [..]


Daily Market Comment – Oil jumps, Mideast tensions rise after US air strikes kill Iranian commanders

Posted on January 3, 2020 at 9:15 am GMT

Tensions flare up in the Middle East after US air strikes kill Iran’s top military leader Oil prices shoot higher, stocks turn negative after the attacks Gold hits 4-month high, yen and Swiss franc soar US air strikes kill risk-on mood Heightened geopolitical tensions threatened to destroy the risk-on sentiment that’s been driving the markets since December after the United States launched air strikes in Iraq, killing top Iranian military officials. The US Defense Department said President Trump had ordered [..]


Daily Market Comment – Stocks start new year on positive note; dollar recoups some losses

Posted on January 2, 2020 at 9:36 am GMT

Policy easing in China lifts stocks in Asia on first trading day of the year But as stocks extend their rally, in FX markets, most majors pull back against the dollar Gold edges up towards 3-month highs amid some tensions in Middle East and North Korea Quiet start to new year The new year got off to a subdued start with equity markets extending their incredible rally of 2019 and little new developments to rattle currency markets. But with Japanese [..]

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