The Gold price has once again reached the upper boundary of the short-term trading range it is in since late October. The price action, however, does not look impulsive so far as the form of the rise is full of overlapping three-wave structures. This implies that this upward move is part of a bigger downward […]
How the 1967 devaluation of Sterling killed the Gold Standard… THIS WEEKEND will mark 50 years since Harold Wilson’s infamous devaluation of Sterling, writes Adrian Ash at BullionVault. Hoping to cut the trade deficit by making imports dearer and exports cheaper, the Labour prime minister claimed that the “Pound in your pocket” hadn’t […]
The US Industrial Production jumped a solid 0.9% in October as factory activity recovered from the impact of Hurricanes Harvey and Irma (consensus: 0.5%). New light for the expected growth rate for the fourth quarter threw a massive jump in factory production (1.3% m/m, consensus: 0.6%) which was recorded at its seven-year high. Mining activity […]
Interesting comments from Mario Draghi has hit the newswires. Mario Draghi, the president of the ECB, points out in his speech at the Frankfurt European Banking Congress “Europe into a New Era – How to Seize the Opportunities” that a change in the pace of buying-in is signaling an inevitable end to European slack. In […]
GOLD PRICE gains of 0.5% from last Friday’s finish held firm in London trade today as world stock markets recovered more of this week’s drop and commodities also rallied after falling from their recent multi-year highs. Gold held at $1282, some $5 per ounce below Wednesday’s attempt at 4-week highs versus the US Dollar. […]
Gold price continues to trade sideways. Trend remains neutral as Gold price is moving above and below the Ichimoku cloud in an overlapping structure. Gold price is vulnerable to the downside but I remain longer-term bullish. Blue lines – sideways channel Gold price is above the Ichimoku cloud. However this does not give us a […]
GOLD PRICES edged back up to $1280 per ounce on Thursday in London as world stock markets rose for the first session in six. With gold prices trading just $10 per ounce above the 13-week closing low of week-ending Friday 3 November, so-called “junk bond” prices also rallied with equities. US corporate bonds […]
Sentiment on Thursday looks a bit better than yesterday and risk aversion was slightly forgotten during the Asian part of the trading session. Stock markets and oil are slowly climbing up, better off the emerging markets currency. Among the main currencies is quite calm. EUR/USD is stopped at 1.1800 and USD/JPY is trading at 113. […]
Gold price re-tested the important resistance of $1,283-88 but got rejected once again. Despite Dollar’s weakness, Gold did not break above the resistance. This was a bearish sign. The other bearish sign we noted yesterday was the form of the rise from $1,262 that was not an impulsive, but overlapping corrective structure. This increased the […]
The problems surrounding the tax reform and the related weakness of the US dollar allowed “bulls” for the XAU/USD to go into a counter-attack. Gold enjoys an increased demand for safe-haven during conditions when the risks of correction of the S&P 500 significantly grows. Indeed, the desire of Senate Republicans to connect its plan of […]
Not stocks, bonds, seashells or Yap stones either… ONE KEY requirement of money, writes Adrian Ash at BullionVault, is that it doesn’t drop 27% of its purchasing power inside 4 days… …only to regain all that drop again in the following 72 hours. This kind of hyper-volatility signalled the death of the […]
GOLD PRICES jumped to 4-week highs against a weakening US Dollar in London trade Wednesday lunchtime, reaching $1288 per ounce as world stock markets followed Wall Street lower for the 5th session running. New data today showed US inflation holding at the Federal Reserve’s 2.0% annual target in October, while retail sales rose 4.6% […]
Risk aversion continues to increase. Particularly clear is the pressure on commodity markets. In addition, there is a lot of doubt about the reform of the US tax system. EUR/USD after yesterday 1.0% shot to 1.18 remains close to this barrier. USD / JPY is heading towards 112.94, which cannot be surprising, as the Asian […]
Gold price continues to trade above the 4 hour Ichimoku cloud. Trend is bullish in Ichimoku terms, but price is mainly moving sideways and has not yet convincingly broken above the critical short-term resistance. Blue lines – sideways channel Short-term support is at $1,278 and resistance at $1,288. Price is trading above the 4 hour […]
Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,270.00. According to the 30M time – frame, I found broken bearish flag in the background, which is sign that buying looks risky. I also found successful testing of supply trendline (downward channel), which is another sign of weakness. My […]
COMEX GOLD contracts recovered a $5 drop against a weakening US Dollar in London lunchtime trade Tuesday, rising back to last week’s finish at $1275 after what analysts called another “large sell” order on the futures market. Commodities retreated and bond prices edged higher as world stock markets fell again. Germany’s Dax dropped […]
The major currencies consolidate on Tuesday, with the exception of the NZD, which loses for no apparent reason. USD/JPY reached 113.60, the EUR/USD hit 1.1670. Pound managed to pull back after Monday due to political factors, although today in the morning we can see a return of pressure and the GBP/USD down to 1.31. Outside […]
GOLD PRICES traded in a narrow $5 range above last week’s close on Monday morning in London as expectations held firm for a US Fed rate hike next month and the British Pound dropped amid fresh doubts over Prime Minister Theresa May’s leadership, writes Steffen Grosshauser at BullionVault. Gold prices climbed to $1279 per […]
Recently, Gold has been trading sideways at the price of $1,277.45. According to the 30M time – frame, I found broken intraday bearish flag below the pivot level ($1,278.75), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My […]
The Federal Budget Balance data measures the difference in value between the federal government’s income and spending during the previous month. The October budget statement from the Treasury will mark the beginning of the fiscal year 2018. During the fiscal year 2017, the budget deficit increased to $666 bn, from $586 bn during the previous […]
Monday’s opening brings the sale of the British Pound under the influence of the weekend press. The Nikkei225 marks a sudden drop, pulling in USD/JPY and giving a negative signal to the markets in Europe. The fall on the Japanese stock exchange woke up the Gold bears. The ounce price rises to $1,277 from $1,273 […]
Gold price made a sharp reversal on Friday getting rejected once again at the $1,283-88 resistance area and where we also warned that the important 61.8% Fibonacci retracement was. Price has now tested the Ichimoku cloud support and is bouncing. Gold has pulled back towards the 4 hour Kumo support and holds above it. Price […]
GOLD PRICES slipped but held 1.1% higher from last Friday’s 13-week closing low in Dollar terms today as world equities followed Wall Street further below the stock market’s recent all-time highs. Silver held the same weekly gain at $17.02 per ounce, while platinum prices traded 1.7% higher from last Friday above $936. Crude […]
Gold price is trading around its important short-term resistance area of $1,283-87. There is no clear break out above the resistance area as price has stuck around here. There are some Fibonacci retracement resistance levels here that are important and should not be ignored. Gold price is trading above the 4-hour Ichimoku cloud. Cloud support […]
BUY GOLD prices traded at 3-week highs and more against all major currencies outside the Japanese Yen on Thursday, rising despite new data showing the weakest 12-monthly gold demand since early 2010. Global gold buying demand fell below 4,000 tonnes between October 2016 and September this year, with global gold mining output larger by […]
Recently, the Gold has been trading upwards. The price tested the level of $1,288.70. According to the 15M time – frame, I found doji candles at the pivot resistance ($1,287.35), which is sign that buying looks risky. I also found overbought stochastic oscillator, which is another sign of weakness. My advice is to watch for […]
The decision to leave the interest rates unchanged was largely expected. The bank also lifted its inflation forecasts to factor in the impact of new government policies and a weaker currency. At the press conference, Acting Reserve Bank Governor Grant Spencer said proposed Government changes would have little effect on the Bank’s thinking in current […]
Surprising reversals in asset prices remain a key theme for this week. The sudden drop of the Nikkei 225 was followed by USD/JPY and other Dollar caresses. EUR/USD jumped to 1.1610. Reserve Bank of New Zealand gave a positive boost to NZD when it left the interest rates unchanged at 1.75%. Risk aversion led USD/CHF […]
Gold price has been making higher highs and higher lows since a pullback from the low at $1,263. The short-term trend has changed to bullish and is challenging important resistance at $1,283-86. Gold is in a bullish short-term trend as long as price is above $1,272. Blue lines – bullish channel Red rectangle – short-term […]
The uncertainty surrounding the tax reform, the growth of geopolitical risks in the Middle East and the visit of Donald Trump to Asia allowed the bulls in gold to restrain their opponents who are on the offensive. There were rumors in the market that the start of the transformation of the fiscal system in the […]
