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…
A combination of peace and stronger dollar saw Gold with a big sell-off Tuesday closing just above the days lows. While inflation pressures elsewhere proved to be a boon for the US dollar we note that Gold is actually the traditional asset used to hedge against rising prices. As such we could see the yellow…
After seeing a big sell-off Monday the past week, Gold was mostly in a range play crisscrossing its previous accelerated trend-line from February 28. This as geopolitical tensions in the middle east has come-off with Iran’s decision not to retaliate directly against Israel. That said a looming ground attack by Israel on Rafa in southern…
We are seeing a follow through to the break of the symmetric triangle in Gold from the past weeks consolidation as tensions in the middle east continue to ease. Speaking on the Israeli retaliatory attacks Friday, Iran’s Foreign Minister has indicated that there are no plans to respond with market taking this as catalyst enough…
