Gold prices on course to end 2024 with a 27% gain, the best yearly performance since 2010. 2025 outlook is positive due to geopolitical risks, central bank buying, and safe-haven demand. Trump administration policies present both risks and opportunities for gold prices. Technical analysis shows potential for further gains, but a deeper correction before reaching…
The financial markets were jolted by Fed’s hawkish rate cut last week, sending ripples across stocks, bonds, currencies, precious metals, and even cryptocurrencies. Fed’s indication of prolonged restrictive monetary policy fueled risk aversion, pushing Dollar to end the week as the strongest performer in the currency markets, supported by surging yields and elevated Fed expectations….
Gold prices are being supported by a shift in Chinese monetary policy, and geopolitical developments. China has resumed gold purchases after a six-month pause. From a technical perspective, gold is currently caught between support at $2650 and resistance at $2700. A break above $2700 could signal further upside potential. Gold has started the week on…
Gold price is consolidating above the $2,600 support zone. Crude oil is showing bearish signs and might decline below $66.80. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a recovery wave from the $2,610 zone against the US Dollar. A key bearish trend line is forming with resistance at $2,650 on…
Short Term Elliott Wave View in Gold (XAUUSD) suggests that rally to 2790.07 ended wave ((3)). Pullback in wave ((4)) unfolded as a double three Elliott Wave structure. Down from wave ((3)), wave A ended at 2724.6 and rally in wave B ended at 2749.9. Wave C lower ended at 2643.1 which completed wave (W)…
Dollar The dollar index corrected after four consecutive weeks of gains. This is typical when national currencies and bond markets come under pressure ahead of important elections. The U.S. is facing this right now, although the dollar is often seen as a safe haven in times of market turmoil. In this case, gold and cryptocurrencies…
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the Gold. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a…
The price of gold has reached a new all-time high above $2,660 per ounce after surging more than 30% so far this year, marking its best year-to-date performance of this century as the U.S. M2 money supply is reaching a new high. As first reported by Zerohedge on the microblogging platform X (formerly known as…
Gold prices soared to a new all-time high, with the troy ounce surpassing 2614 USD. This surge is primarily driven by expectations of additional interest rate cuts and ongoing geopolitical tensions, which enhance gold’s appeal as a safe-haven asset. Following the US Federal Reserve’s decision last week to reduce its interest rate by 50 basis…
The financial markets have been more influenced by speculations than by concrete economic data, as anticipation builds ahead of Fed’s interest rate decision on September 18. Recent US economic indicators, including the latest CPI report and the prior week’s non-farm payrolls, pointed toward a cautious and modest 25bps rate cut. However, traders and investors chose…