Gold On The Defensive - Peter Hug

Tuesday, 24 April 2018 05:44 WIB

On holiday last week, I am missing the nuance of the past few trading days. We suggested that the technical picture was looking positive with the caveat that $1,355 on a close basis was necessary to create further upside momentum. Looking at last week's charts, traders were unable to push gold through this level. The weakness overnight was generated from two factors. The first was North Korea's statement that it was prepared to suspend its nuclear program. This may prove to be a ploy to get the U.S. to the negotiating table. It squarely puts the onus on the U.S. to follow through on the...

Read more

RECENT NEWS

The recent positive gold price action has been restrained by a hawkish Federal Reserve outlook, said TD Securities in a report. œInternational tensions, a somewhat weaker USD and volatility in equities have taken gold as high as $1,365/oz this week. But, the yellow metal has yet to emerge from a tight trading range in the face of several expected increases in the Fed Funds rate, head of...

Gold bulls are once again disappointed with the yellow metal's lack of stride in breaching its key resistance of $1,355 an ounce, Saxo Bank said, adding that the precious metal is being restrained by white metals' poor performance. 'Gold's recent performance has once again been disappointing the bulls who have been backing the yellow metal through increased long positions in both futures and...

A gold rally is in the cards for April, said Bloomberg Intelligence commodity strategist Mike McGlone, adding that not much can get in the way of that happening. 'Something unusual would have to occur for gold's primary drivers to prevent the next leg of a price rally,' McGlone said in a note published on Thursday. 'The Fed's March rate hike gave increasingly compressed gold the green light to...

Gold continues to trade in the pattern that has developed since the Fed began raising rates. This consists of a weakening pattern into the anticipated Fed meeting, a blip lower on the announcement and then a strong rally. We suggested that gold would potentially see a $1,307 print ahead of the announcement, with a suggestion to enter, when the news broke. The initial bounce to the $1,327 level...

Due to a strong labor market and an expanding economy, markets should expect the Fed to err on the side of hawkishness, said CME Groups Executive Director and Senior Economist, Erik Norland. œThis is the Fed thats obviously going to raise rates on Wednesday, I think theres really no question about that, but I think theyll be preparing the markets for several more increases this...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.