After a very volatile session, gold is closing with a second straight week of losses last Friday while analysts remain bullish but slightly more cautious for this week. Seeing gold hit new fresh six-year highs, then drop more than $50 on a weekly basis has been unnerving for traders. Yet, analysts are saying that both upside and downside potential is capped for gold until the next big market mover. Weaker-than-expected employment numbers out of the U.S. have helped gold recover some of the losses from earlier last week, but the move was temporary. U.S. non-farm payrolls came in at 130,000...

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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...

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