Commodities

Preparing for the Worst: Trading Ahead of a US Debt Default

While it is highly unlikely that the US will default on its debt, this doesn’t mean that the traders won’t make plans to deal with a default or get jittery. Two likely markets that will have to deal with the...

Is There Still Hope for Gold to Reach $2,000?

The price of gold hit a high of $1,971/oz before retreating and finding support above $1,960. Upbeat equities and higher Treasury yields make it difficult for XAU/USD to continue its recent rally. Fears of a wider banking contagion have also...

Will Bitcoin Climb or Collapse as Bank Chaos Subsides?

Which way will Bitcoin break out of last week’s range? On screen I have highlighted the price range between $29,000 and $26,700, representing the high and low of the week-long ranging period. The price has flirted with a break to...
Gold technical analysis shows possible upside

Gold holding above $1,900. But for how long?

Gold has rallied by more than $300 per ounce over the last 10 weeks with only a brief period of consolidation around $1,800. Now, gold is tentatively holding above $1,900, after reaching $1,929 in yesterday’s trade, before closing the day...

Volatile start to year for gold and oil

In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a...
Gold technical analysis shows possible upside

Fed rate hike doesn’t disrupt gold’s bullish trend

Gold has recovered almost half of the losses experienced after its March 2022 peak after creating a strong demand zone around $1,621.40. This support area made a strong triple bottom pattern. Since then, we can see a consecutive higher high,...

Iron ore hits record-low as demand drops

By the end of 2022, the price of iron ore is expected to hit their lowest level in three or four years as global demand for the commodity continues to slow down, particularly from China, the world's largest consumer of...
Gold technical analysis shows possible upside

Gold’s 2-week rebound spoiled by NFP data

Gold experienced some notable gains in the 2 weeks leading up to the release of the Non Farm Payrolls (NFP) data. However, this trend appears to have been spoiled with a sharp decline in gold at the end of last...
nfp

Pound and gold head lower before NFP data

July’s NFP report, which will be released this Friday, September 2, is forecast to deliver 300K jobs. Will the NFP beat forecasts once more? And if it does, how will investors and traders react, now that they must fold this...
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