GOLD Gold continues to trade inside a triangle pattern between $1,800 and $1,760 with no bullish reversal signs in sight so far. Indeed, the current global optimism has caused traders and other mid-term investors to rotate away from defensive values and safe havens to riskier assets, which represents a strong bearish market driver for gold.…
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OIL Oil markets continued to edge higher on Wednesday, boosted by the US Dollar falling once again and correcting its short-term bullish trend started last week. The barrel of light crude oil is now challenging its immediate resistance at $73.20, the last one before the major resistance between $73.90 and $74. As well as the…
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GOLD Gold’s bearish price action since the beginning of the month is slowing down as the price loses more and more directionality. The market is consolidating between $1,770 and $1,800 following last week’s sell-off as investors struggle to get more clarity on the near-term outlook for gold. The bearish pressure is likely to remain as…
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GOLD Gold gained approximately 1% during early Friday trading, following a slowdown in dollar gains, however the precious metal is still on track for the worst weekly performance since March 2020. With investors pricing in the adoption of a more hawkish stance from the Fed, the dollar will be likely to remain supported, at least…
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GOLD ADP data strongly surpassed forecast, with almost a million new jobs created last month in the US. Investors are awaiting Friday’s non-farm payroll numbers, but yesterday’s data are showing that US recovery is probably stronger and quicker than expected. What does it mean for the markets? In a few words the US job market…
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GOLD The dollar’s recovery attempt hasn’t curbed the strength of gold seen in the last few days. The price is challenging the resistance zone at $1,900, while the main trend still appears positive for bullion as investors' interest for gold has returned. From a technical point of view, gold looks on track to continue its…
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GOLD Gold is steady just above the threshold of $1,870. The modest gains seen this week should be considered in a bigger picture, as it is the third week in a row in green for bullion. The main trend is still positive with investors buying gold on the weakness of the dollar and as a…
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GOLD VS BITCOIN To put things into context, gold lost 45% of its value over the space of over 4 years between late 2011 and the end of 2015. Yesterday it moved in a range of around 2%. By contrast, bitcoin has fallen as much as 55% from the peak reached on the 14th of April,…
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GOLD Gold just reached a new four-month-high, before slightly curbing its recovery. Buyers are moving to gold, in response to a combination of factors. The two most notable are surely the weakness of the greenback, with the Dollar Index at its lowest for 3 months, and inflation fears. Moreover, risk-on has slowed down, with a…
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OIL Inflations fears triggered a fall in stocks for less than 48 hours. After this, the dominant scenario went back to the “normality” of the last few months of a risk-on approach to the markets. Combined with a weak dollar, this has been the perfect scenario for further recovery of oil, lifted further by positive…
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