Forecasts & Analysis | Gold, Page

Gold could be under pressure this week if recession fears continue to subside. There aren’t many major economic events this week so if there is volatility, it will likely be fueled by unexpected events by China or the United States. The key market moving event could take place on Thursday

Based on Friday’s price action and the close at $1523.60, the direction of the December Comex gold futures market on Monday is likely to be determined by trader reaction to the 50% level at $1517.50.

Housing starts fall more than expected

Weak housing data weighed on short term yields

Gold markets rallied again during the week, but quite frankly have underperformed later in the week. At this point, there is a bit of a shooting star for the week, and this suggests that perhaps a little bit of a pullback is coming. This however doesn’t mean that I’m looking

Gold prices weakened on Friday but remain on track for a third consecutive weekly gain thanks to global recession fears, uncertainty over US-China trade developments and falling US bond yields.

Gold markets pulled back slightly during the trading session on Friday as perhaps a bit of profit taking has come into the marketplace. Ultimately, the market is still bullish though, so I think it’s only a matter time before we rally.

It has been a rollercoaster trading week defined by heightened trade uncertainty, yield curve inversions and global recession fears.

Gold is going to have a hard time mounting a rally on Friday as long as yields remain firm, investors are willing to take on risk and the dollar continues to strengthen. It looks like it is going to take a surprise event to turn the market around today.

The S&P500 stabilised on Thursday, finishing the session up 0.2%. Better-than-expected US data (retail sales, Empire State, and Philly fed) probably helped sentiment in US stock markets, though it seems to have been largely ignored by the bond market. Bond markets continue to scream at the Fed supported by President

Shortly before the close, yields are falling, risky assets are trading in two directions and the dollar is firm. This is helping to underpin gold, but at the same time hold it inside Tuesday’s wide range.

Gold prices moved higher closing at a fresh 6-year high, despite falling US yields.  The 30-year US yield settled at an all-time low. China said that it would retaliate if the US levied additional tariffs on September 1, which helped whipsaw gold prices. It appears that only President Trump and

Gold markets went back and forth during the trading session on Thursday as we continue to hover at high levels. The $1500 level underneath should offer support, as it was significant resistance previously. At this point, the market looks likely to continue to go higher.

The yield curve inversion just got more pronounced. Not only the spread between 10-year and 3-month Treasuries but now also the spread between 10-year and 2-year turned negative. That sends a warning signal about the state of the real economy.

Today’s musing has a strong focus on US fixed income, and a number of concepts may be new to readers. However, I feel these are right at the epi-center of markets and are driving the show.

Based on the early price action and the current price at $1528.70, the direction of the December Comex gold futures contract into the close is likely to be determined by trader reaction to a pair of uptrending Gann angles at $1522.60 and $1520.40.

Gold prices close at fresh 2-year highs

Gold markets have been bullish for some time now, but over the last several days we have seen more of a grind. I think this is simply the market that is trying to be okay with the idea of leaving the $1500 level behind it.

Gold is trading higher, but the market remains inside yesterday’s wide range. The heightened volatility may have shook up traders a little, who seem to be a little reluctant to chase prices higher at current price levels. Nonetheless, the news is bullish for gold prices for the long run.

The gloomy mood across financial markets instantly brightened after the US Trade administration (USTR) announced that it will remove some items from its target list and delay 10% tariffs on certain Chinese goods until December.