GOLD AND SILVER Indices closed yesterday’s trading sessions in green and started this morning in the same way with risk on still dominating sentiment. Moreover, the greenback is strengthening and EUR/USD is getting closer to 1.20. As a result, investors are not keen on increasing their position on gold and bullion declined to $1,835. The…
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SILVER Silver is not GameStop. That is the first lesson of the last few trading hours. After successfully pushing up Dogecoin and GameStop, Reddit investors (and probably not only them) tried to replicate this success by targeting silver. But this is a much bigger whale, with a huge number of players involved. Moreover, silver is…
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There seems to be more room for gains here by the US dollar from a technical point of view. Moving averages are below the price, with none except the 200 SMA having offered significant resistance in the second half of January, and the 50 SMA from Bands is about to complete its golden cross of…
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Fear, however, is pushing many of the traders who have shorts on silver to start covering their positions. Sellers of the physical metal are also rushing to cover their short positions, to avoid finding themselves at a loss in the face of the startling increases. We must also stress, however, that a successful attack on…
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EUROPEAN SHARES European markets drifted lower at the opening of the last trading session of the week, following the global trend sparked on US shares yesterday. The worst weekly slide in three months on global markets came despite reassuring earnings and macro data this week, following concerns over volatile retail trading in the US. The…
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Germany’s Federal Financial Supervisory Authority (BaFin) filed criminal complaint on Thusrday against one of its employees for suspected insider trading in payments company Wirecard. BaFin said that the employee of the securities supervision department sold structured products based on Wirecard on 17 June 2020. The date is one day before Wirecard’s auditor EY found that 1.9…
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GOLD AND OIL All seems to be extremely calm as traders and investors wait to hear from Jerome Powell, Chair of the Federal Reserve, to try and understand if the US central bank is considering any tapering or has any concerns about the possibility of inflation in the next few months. In this scenario, gold…
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GOLD Uncertainty is the dominant theme on the gold market currently with bullion steady with little volatility as investors wait for a new market driver. After the fall in stock seen over the last few days, traders are trying to understand if this was only a correction of if the movie just started. Meanwhile, they…
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From a technical point of view, the time appears to have come for another leg up by AUD. The consolidation for the past two weeks has taken price out of overbought and brought it close to the 38.2% area of the weekly Fibonacci fan. Volume remains relatively low, though, so waiting for a key event…
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OIL Uncertainty is dominating early trading, after a weekend which showed that vaccines are proceeding slowly. Meanwhile, indices are trying a difficult, and so far inconsistent, rebound. Oil is following stocks and is showing a modest gain, which brought WTI back to the resistance level at $52.70. From a technical point of view, a clear break…
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