Though also firmer Gold was not quite the big winner against the dollar with XAUUSD still stuck in its range play from last week. For now market is waiting for the next big catalyst for a test of the new historic highs though the more we see inflation metrics easing globally and geopolitical tensions getting…
Gold has been stuck on a range play since the failure to follow through on its sell-off from new historic highs. As previously mentioned the much of the surge in Gold may be attributed to two factors, central bank demand, and hedging against inflation. While Central Banks are unlikely to suddenly stop buying, we note…
Gold saw a sharp sell-off following the release of the US FOMC minutes suggesting a shift in bias among its member and more delays in US easing. The sharp drop to us suggests that despite the talk of demand from Central Banks for the yellow metal, the latest surge is not about hedging against inflation…
Much like many other asset classes Gold managed to rally on weak US numbers suggesting a possible rethink of US monetary policy in the June meeting. Prices however failed to see a follow through pulling back Thursday as it approached the daily consolidation ceiling. Note market has bought Gold to historic highs of geopolitical issues…
The safe haven angle for trading gold continue to stay in the back seat our bounce yesterday largely a technical affair. Ahead we have a catalyst for potentially clearing the descending triangle hypotenuse or getting a rejection with US Consumer Price Index on the card at 1230GMT. Any sign of prolonged inflation pressures will make…
Gold continues to ignore geopolitical tensions and remain focused on the US Interest Rate story. Fed speak for the most part continue to suggest a rate cut later rather than sooner which has been weighing on Gold’s potential upside. Note that market players are always thinking ahead and are looking for an easing to rekindle…
Gold saw a sharp rally in North American trading as the increase in the weekly claimant count in the US was flagged by the market as a potential reason for the Fed to consider cutting rates. This of course would have inflationary effects and would then be potential reason for central banks to increase gold…
Gold has been on a range play ever since seeing a new historic high at April 12. Global tensions have not quite lead to a big flare up though the potential remains keeping prices elevated. Demand from central banks diversifying off fiat currency has also been a reason for this years rally but if everyone…
Gold has remained in consolidation mode since coming off its historic highs. Although whipsawing with the rest of the major currencies on US jobs data it will be prudent to remember that the yellow metal at this point is about geopolitics. A flare up of violence in the Israel-Hamas conflict could happen any time fueling…
Gold has remained inside the body of Tuesday’s bearish breakout with bears failing to generate momentum of the trend line break. Within this context is a bias for the sell side that has seen a bounce in late New York trade. We continue to see geopolitics as the main driver for Gold, the latest twist…