General information
Despite edging higher today, gold remains below its 200-day simple moving average and also below a key Fibonacci retracement level from its August 2021 through March 2022 ascent. At the time of writing, spot gold is headed for a third weekly decline in the past four.
24 June 12:41
Gold is paring some of Thursday’s gains, as the resilient US dollar eats away at the precious metal’s ability to climb significantly higher. Spot gold is now testing its immediate support level at the 200-day simple moving average. The resurgent US dollar is weighing on gold prices, with the precious metal paring some of its gains in the immediate aftermath of the Fed’s latest policy signals.
17 June 12:32
Spot gold has been meandering around the mid-$1800 region ahead of the incoming US CPI print, with 10-year Treasury yields also not straying far from the psychologically-important 3% mark.
10 June 12:31
Gold bugs have been riding the slipstream left by the lower US dollar and Treasury yields, though Friday’s price action is taking some of the shine off bullion. Still, gold prices are on the cusp of posting a third consecutive weekly gain, fuelled by persisting fears over a possible US recession.
3 June 11:12
Gold prices edged slightly higher on Friday morning, drawing strength from a weaker dollar and subdued treasury yields.
27 May 09:12
Gold has benefitted from the classic risk-off moves in global markets this week. However, gold bugs will be wary of the Fed’s dogged resolve to combat inflation with even more rate hikes, threatening to send Treasury yields even higher.
20 May 11:41
Spot gold is seeing some slight reprieve before the weekend as King Dollar moderates after Fed Chair Powell once again resisted against the idea of a 75 basis point hike.
13 May 12:23
The unrelenting rise in US Treasury yields and the dollar has dragged gold below the psychologically-important $1900 level, with spot prices now languishing below its 100-day moving average and a key Fibonacci level. Gold was unable to capitalize on Fed Chair Powell’s less-hawkish than expected message this week, with bullion bulls aware that US rates are bound to rise anyway, just not likely by way of a 75 basis point hike.
6 May 12:47
Exchange prices for nickel on Thursday reached 11-year highs at $27,970. Metal prices have been on the rise over the past few days, but today the uptrend picked up.
3 March 18:00
The suspension of cargo transport from and to Russia by three of the world's largest transportation companies has triggered an uptrend in industrial metal prices. As a result, Nickel soared to $25,705, an all-time high. Aluminum surged to $3,564, which is also a new peak.
2 March 14:38
Gold is trading in close proximity to $1,900/oz on Monday morning, although there is no lack of risks facing global capital markets. Investors may have opted for profit-taking earlier amid a rise in the value of the precious metal. In addition, a new wave of USD strength is currently putting pressure on gold prices.
28 February 11:45
Gold prices retraced on Thursday to an eight-month high of $1,893.60/oz. The bulk of trading is currently focused in the vicinity of $1,887, but the outlook appears quite conducive to ongoing momentum.
17 February 13:14
Aluminum prices have reverted to a correction and look poised for the resumption of gains. The metal is currently trading at $3,202 after returning to last week's peak at $3,333. The technical picture for aluminum trading suggests an upward retracement to a target of $3,500.
14 February 16:02
Gold prices are trending higher for the ninth session in a row following a short breather. By the time of writing, price action reached $1,828 and may continue to rise. The next target for gold is at $1,853, a high since January 25.
9 February 14:22
Aluminum prices are on the rise and look set to soar back up to the October peaks. The metal is currently trading at $3,191, and the next upside target is $3,229.
8 February 15:25
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