General information
Gold bugs may be further encouraged to test resistance at the 50-day SMA around $1990 if US hiring momentum is truly waning.
2 June 12:53
Spot gold is attempting to stage a slight recovery ahead of the weekend, after being dealt a further blow by Thursday’s upward revisions to US GDP.
26 May 13:51
Gold has been dragged below the psychologically-important $2,000 level this week due to optimism surrounding a US debt deal, while markets also ramped up bets of a Fed rate hike in June.
19 May 13:17
The longer that spot gold can keep its head above $2k amid sustained inflows into bullion-backed ETFs, the greater the chances of the precious metal revisiting its all-time high.
12 May 12:19
Gold posted a one-year high this week, enabled by market expectations that US rates have peaked, while persistent fears over US banking turmoil have bid up safe haven assets.
5 May 11:50
Spot gold has struggled to keep its head above the psychologically-important $2,000 level this week as markets diluted bets for Fed rate cuts.
21 April 12:52
While spot gold is on course for a second straight weekly advance of over 1%, the final weekly tally could be influenced by key events due later today (Friday, April 14th).
14 April 12:35
A soft US jobs report may cement a strong close above $2000 and within striking distance of gold’s all-time high of $2,075 hit in August 2020.
7 April 12:44
Gold’s recent crawl back up closer to $2k is awaiting validation from the US PCE core deflator due later today. Further evidence of still-sticky US inflation, with another 4.7% print that matches January’s number, may force bullion bulls to wait a while longer before reclaiming the $2k handle.
31 March 12:24
Spot gold is once again easing away from the $2000 handle, after having twice this week briefly surfaced above that psychologically-important mark. From a technical perspective, gold appears to be clearing even more froth as its 14-day relative strength index pulls back once more from the 70 threshold which marks “overbought” conditions.
24 March 12:19
Gold has broken above the psychologically-important $2k for the first time since March 2022 (following Russia’s invasion of Ukraine)! And gold could stay supported this week, as major central banks hold their respective policy meetings amid the market tumult and banking crisis engulfing both sides of the Atlantic.
20 March 10:41
Spot gold has skyrocketed towards its biggest weekly gain since November as contagion fears permeated global financial markets this week. The Credit Suisse crisis exacerbated the risk-off sentiment stemming from Silicon Valley Bank’s collapse, prompting market participants to rush towards safe haven assets.
17 March 12:00
A lower-than-expected NFP headline figure today, which suggests that January’s blockbuster number was a fluke, is likely to restore spot gold back above $1850. However, a stronger-than-expected February NFP print which ramps up market fears for an even-more aggressive Fed may drag spot gold back closer to the $1800 mark.
10 March 12:34
The easing US dollar heading into the weekend has restored spot gold’s year-to-date gains, offering hope that the precious metal can put its February woes behind it.
3 March 11:27
The US PCE deflator print due later today might serve as a major catalyst for the precious metal’s final move before the weekend.
24 February 11:40
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