In this year, the gold prices have surged more than 35% supported by geopolitical tensions, a weaker US dollar and mounting numbers of coronavirus cases across the globe.
GOLD -80$ down today, currently testing $1940, break below this level the next support at $1920 (previous all-time high)...
GOLD price trading sideways on Monday. On Friday the yellow metal dropped more than $50 after better-than-expected U.S. NFP data.
Crucial levels to watch this week:
Support: $2015 & $2000
Resistance: $2055 & $2070
Gold price at the decision point. Watching $1790 and $1818 for this week. If the price break above $1818, the next level to watch $1830/36. On the other side break below $1790/92 will open doors to $1780/74 followed by $1760.
Market sentiment turns fragile once again amid fears of a second virus wave, sell risk assets at this point?
Now investors are dealing with another problem: the resurgence in coronavirus cases. The US accounts for more than 25% of the just over 10 million cases worldwide, according to data...
As long as central banks’ stimulus works, buying stocks when they drop is always a good strategy.
From a high enough vantage point, this year’s move from boom to bust to boom looks much like a normal market response to an outside shock, only far faster. But upon closer examination, it becomes...
Gold price slightly down from fresh monthly high $1758, If the price won't break above the previous high $1765 we may see a pullback to $1745 & $1730. On the other side break above $1765, the next level to watch $1780.
The progress of the economy reopening continues to weigh on risk assets, short USD/JPY this week?
Risk assets could be caught in a tug-of-war in the week ahead, as investors weigh the potential positives of a reopening economy against the worry that coronavirus may continue to spread.
With the market expecting Fed to act slightly neutral, dollar could rise higher this week.
Besides strong performance in the US stock market, the Fed may find another four reasons that refrain them from leashing further easing measures for now, which could offer dollar some boost this week...
Market will start to evaluate the progress of the economy reopening, which may offer some bids to risk assets, long USD/JPY this week?
The big rotation into cyclical stocks, like banks, small caps and airlines, took a break Friday, but it could be a theme that dominates trading again in the...
The past weeks showed that hopes on vaccine offer great opportunities to sell USD/JPY and buy gold.
Risk assets traded higher early Tuesday morning to begin a holiday-shortened week, as optimism about a potential coronavirus vaccine built. However, our experience in the past weeks shows that...
Fed chair expects a bumpy recovery ahead, long gold and short USD/JPY?
Federal Reserve Chairman Jerome Powell said the US economy will eventually recover from the coronavirus pandemic, but the process could stretch until the end of next year and it depends on the delivery of a vaccine...
Gold price trading sideways supported by $1680. Any break below $1680 will open $1650 & $1630. On the other side break above $1720 opens $1735 & $1750.
Important levels to watch this week
Support: $1680 and $1660
Resistance: $1720 and $1735
This Friday’s payroll data could be the ugliest one in decades, short USD/JPY?
April’s employment report, to be released this Friday, will almost certainly show that the coronavirus pandemic inflicted the largest one-month blow to the US labour market on record.
We forecast the new report...