In my recent , I wrote about the most important of the recent technical events in gold (gold’s weekly reversal), and in today’s free analysis, I’ll focus on something far less obvious. NASDAQ Overview It’s been some time since I previously covered the tech stocks – the NASDAQ Index – and it’s about time for me to catch up. After all, the technology...
Key Insights Gold falls below $2,000, reacting to strong U.S. labor market data and lowered expectations of an early Federal Reserve rate cut. Silver’s subtle downturn at $22.92, influenced by broader market sentiments and economic indicators. Copper experiences a 1% decline amid concerns over China’s economic weakness and global demand...
Key Insights Global equities rise, hinting at potential rate cuts and boosting gold prices. Low market volatility and low U.S. Treasury yields underpin precious metals’ stability. Slowing U.S. job market and dollar recovery influence gold, silver, and platinum trends. Gold shows modest rise to $2,022, reflecting cautious investor sentiment. Silver...
Silver and Gold: A Tale of Dramatic Gains and Market Sentiment Shifts From the beginning of October to the last day in November silver has had a profound and dramatically strong gain. This despite one moderately deep correction beginning on October 19, and concluding on November 13. Monday, November 13, was the exact day that Silver pivoted back to...
Key Insights Gold price shows modest growth, trading at $1995, with a bullish trend indicated by RSI and MACD indicators. Silver trades at $23.70, facing resistance at $24.37 and support at $22.94, indicating a potential bearish trend. Copper prices rise slightly to $3.82, with key resistance at $3.86 and support at $3.76, signaling a bullish...
December Contract Nearing Expiry, February 2024 Sees a Modest Gain of Almost $20 As of 4:35 PM EST, gold futures basis most active contract (December 2023) is fixed at $1984.10. However, the December contract will soon expire as the until the first notice day advances. This is why we are focusing on the February 2024 Comex contract which is...
Key Insights Gold Fields witnessed a 9% year-on-year decline in gold-equivalent production, with significant drops in Ghana and Australia due to operational issues. Gold prices remain under $2,000 per ounce, influenced by U.S. retail sales data and uncertainties over U.S. monetary policy. Copper prices experienced a dip, affected by the weakening...
Gold Peaks and Slides In my , I wrote the following about gold: Gold made a few attempts to move above the all-important $2,000 level and the rising resistance lines, and it failed all of them. The strong short-term momentum is gone, just as the fear of the unknown regarding the situation on the Middle East. To clarify – the situation remains...
Cause for Celebration or Caution? There are a few things about yesterday’s move higher that make it suspicious. Two of them are visible directly on gold’s chart. The yellow precious metal moved above the late-July high and It failed to hold this breakout. Since invalidations of breakouts are sell signals on their own – we just got one, which...
Gold Prices Surge Amidst Geopolitical Tensions It’s official: Google searches for the phrase “How To Trade Commodities” are surging once again! This comes as no surprise, considering the current macroeconomic backdrop is fuelling a “perfect storm” for Commodities, sending prices across the board to fresh multi-month highs. Gold prices hit fresh...
Key Insights Gold’s Bullish Stance: Priced at $1862 with a 1.75% rise, Gold’s bullish engulfing candle and RSI rebound from the oversold zone emphasize a buying sentiment. Silver’s Geopolitical Reaction: With its pivot point at $21.90, resistance levels up to $23 are observed. Its response to global events requires investors’ keen attention. Gold...
Reversal Pattern Confirmed On Wednesday, I wrote the following: The momentum remains positive, so reaching this target – close to $1,965 – might be what triggers the reversal. The reversal is likely anyway because the fact that both resistance lines cross creates a triangle-vertex-based reversal point. And it is due right about now. Consequently,...
This comes as no surprise, considering the current macroeconomic backdrop is fuelling a “perfect storm” Commodities positioning the entire sector as one of the most lucrative asset classes of this year, if not this decade. A long list of the world’s most powerful Wall Street banks have described the current economic climate as “The Golden Age of...
Business | Emmanuel Addeh in Abuja At least 300 business entities failed to produce any mineral resources, while 86.7 per cent of the operators in the solid minerals sector fell below the N3 million royalties payment threshold in 12 months, a development that underlines the almost comatose state of the sector in the country. A newly-launched...
Saudi Arabia’s Oil Ambitions and America’s Reserve Realities Historically since the 1970s, every time Saudi Arabia and its OPEC alliance cut production to prop up Oil prices – the United States would immediately respond by releasing more Oil out of its Strategic Petroleum Reserves in a bid to defend market share. But more importantly, to slam Oil...
Gold Prices Slump Over Dollar Strength and Speculation Ahead of Jobs Report Gold spot and futures both declined by over 1% today as traders reacted to dollar strength and stronger yields on U.S. Treasuries. But that explanation lacks the complete backdrop to the multiple reasons why gold is trading under pressure today. Market participants are...
Gold Futures Decline Amid Dollar Strength Gold daily chart Gold futures are definitely under pressure today, with the most active August 2023 contract down $8.70 or 0.44% and fixed at $1972.10. The root cause is dollar strength that overcame fractional buying and still was able to take gold prices moderately lower. Advertisement Dollar Index Surges...
Bitcon Approaches Upper Boundary of its Short-Term Range The trend of capitalisation growth has been in place since the beginning of the week. Although the bulls’ attempt to accelerate has failed to gain traction, the market is approaching these local highs again as of early Wednesday afternoon. Bitcoin daily chart Bitcoin is up 0.6% at $30.8K and...
Things are very exciting on the USD Index front. Yes, it’s declining, and yes, it’s excitingly Bullish. I realize that for many market participants, a move higher will always be bullish, and a move lower will always be bearish, and I will still emphasize it once again. Bullish and bearish are words that refer to the future, whereas a rally or a...
Yes, AI is transformative. It already starts to enhance multiple businesses, just like the Internet did many years ago. And as many thought cryptocurrencies would. But it doesn’t mean that the huge transformation will happen overnight! Or that it fixes everything with regard to the world’s problems in general or with the economic situation....