WTI crude oil showed a roller coaster trend. It fell to an intraday low of $74.03 during the European trading session, then recovered all losses, and rose to an intraday high of $76.18 in the US market. It finally closed down 0.19% at $74.99 per barrel. ; Brent crude oil once fell below the $80 mark during the session, and then fluctuated around this mark,...
Gold prices climbed to their highest levels since May, hitting a six-month high of $2,017.82 an ounce on Monday. Gold prices closed above $2,000 an ounce on Friday, recording a second straight week of gains and bolstering market confidence that gold's rise is justified. In the second half of November, U.S. economic data weakened, increasing expectations that the...
A good start! Entering the European market on Monday, spot gold maintained its upward trend. Earlier, the price of gold once exceeded 2,010 US dollars, setting a new 6-month high to 2018 US dollars. There are no major stimulating factors in the fundamentals. However, last week the Fed has ended raising interest rates. The tone continues to In the new week, the...
In the European market on Thursday, spot gold maintained its intraday upward trend, with the price of gold currently located around $1,995 per ounce. Against the background of another weakening of the US dollar, gold prices are launching a new upward trend towards US$2,000 per ounce. Optimism that the Federal Reserve may end its tightening cycle is weighing on...
For today's gold, we continue to treat it as yesterday's analysis. The price has climbed back after confirming the support, and broke through the channel line to see the continuation of the upward sprint, and then look for the non-agricultural high point and the previous resistance point of 2004- 2008 area. If you still don’t understand, please feel free to...
Spot gold has experienced a short-term rise, and the price of gold has just exceeded the $2,000/ounce mark again. The technical aspect of gold sends a negative signal. Unless the price of gold exceeds 2009.30 US dollars per ounce, the price of gold will face the risk of a correction in the short term. Spot gold closed up $20.65, or 1.04%, on Tuesday, hitting an...
During the Asian market on Monday, spot gold accelerated its short-term rise, with the price of gold just hitting $1,985 per ounce, after rising sharply by more than $10 from the previous intraday low. Gold gained bullish momentum last week, rising more than 2.5%, as the dollar fell along with U.S. Treasury yields. There is a lot of potential for gold prices to...
Crude oil prices fell for the fourth consecutive week last week. A substantial increase in inventories and record production were the main reasons for the decline in crude oil prices last week. The entire market has been weak recently due to supply concerns and a significant drop in demand. However, on Friday due to some short sellers Profit-taking and U.S....
Entering the European market on Friday, as the market further digested bets that the Federal Reserve's interest rate hikes were over, the decline in U.S. bond yields further accelerated, and the stock market regained momentum. The U.S. dollar was dragged down and found it difficult to gain a foothold. USD/JPY fell to Below the 150 mark, at the same time, gold...
The U.S. Consumer Price Index (CPI) fell in all areas, and the dollar plummeted amid expectations that the Fed's interest rate hike cycle would stop. Crude oil prices rose on the back of that reversal and a weaker U.S. dollar that triggered a rise in black fuel prices. Looking at the daily chart of crude oil, oil prices have continued to fall since the second...
At the end of the Asian market on Wednesday, spot gold suddenly rose rapidly in the short term, and the gold price just broke through the $1,970/ounce mark. If the price of gold overcomes the key resistance of $1,975.00 per ounce, gold is expected to see a greater rise. Driven by the plunge in the U.S. dollar, spot gold closed up $16.85, or 0.87%, on Tuesday at...
In the European market on Tuesday, the U.S. dollar index remained near 105.60; spot gold prices were trading around $1,946 per ounce. On this trading day, investors will focus on the US CPI data, which is expected to trigger major market movements. Gold prices rose significantly on the previous trading day after finding solid support at $1,933.30 per ounce, and...
Entering European trading on Thursday, market sentiment was cautious, with gold still declining after three consecutive days of losses. Traders once again awaited the appearance of Federal Reserve Chairman Powell for clues on whether he will change his stance on maintaining high interest rates for a long time. Gold prices hovered near three-week lows on Thursday...
In early trading in the European market on Wednesday, spot gold continued to be under pressure, with gold prices currently around $1,967 per ounce. Gold prices successfully hit the target price of $1,962.35 per ounce on Tuesday. As long as it remains below $1,975.25 per ounce, the outlook for gold prices will continue to be bearish. Spot gold fell on Tuesday as...
Entering the European market on Friday, the market maintained its decline. The hawkish remarks of Federal Reserve Chairman Powell caused investors to reprice their bets on interest rate cuts. The US dollar was basically stable, while gold continued to maintain a narrow range of fluctuations. It has fallen by nearly 40% so far this week. The U.S. dollar may have...
In early trading in the European market on Monday, spot gold maintained its intraday decline. As the price of gold fell below the important level of 1,983.55 US dollars per ounce, gold may suffer a larger correction. Gold prices showed a bearish trend after starting today's trading and resumed the intraday bearish trend, with the main target targeting $1962.35...
Gold prices continued their rebound on Thursday, with focus turning to Friday's U.S. non-farm payrolls data. Gold prices remain a 'buy the dip' trade as technicals confirm a bullish crossover. As long as the key static support level of $1,963 per ounce holds, traders will continue to engage in "buy the dip" trades in gold prices. The short-term resistance to gold...
The short-term technical outlook for gold prices remains favorable for buyers, who will adopt a "buy the dip" strategy ahead of the Fed's interest rate decision. Further supporting the bullish view, the bullish crossover between the 21-day moving average (SMA) and the 50-day SMA is still in play, while the 21-day SMA has also crossed above the 100-day...