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Bullion

Can we expect the upward surge in gold prices to persist? With escalating geopolitical tensions, the demand for gold has surged significantly. Gold prices continued to climb, surpassing 2,700 USD for the first time. According to Bloomberg, the demand for gold as a safe haven has risen amid increasing geopolitical and economic uncertainty. Moreover, gold prices surged due to the unpredictable US presidential election, which contributed to the prevailing uncertainty. Based on Fitch's analysis, WSJ reported that gold prices will remain robust from 4Q2024 through 1Q2025, with gold trading between 2,500 USD and 2,800 USD in the upcoming months. After exceeding the previous high of 2680, XAUUSD advanced to 2720, recording its all-time high. The price sustains a solid trend within the ascending channel, indicating a bullish momentum. If XAUUSD breaches the resistance at 2750 and the ascending channel's upper bound, the price may gain upward momentum toward 2850. Conversely, if XAUUSD breaks the support at 2680 and EMA21, the price may fail to hold the channel's lower bound and decline further to the 2520 level.
OANDA:XAUUSD
by inkicho_exness
XAUUSD On The Way To $1,580. Keeping Bearish.INTERVIEWER: What is your prediction about gold amid the downturn that has been in your favor besides your prediction on Bitcoin? ME: "Good day to you sir. Thank you for the interview today. I am totally appreciated your humble request to interview me today. As we know, we are in the downturn of all major market movements. We have FED controlling the movement from 0.5% rates now up to 2.4%. I hope FED will keep this rate higher to boost the yield and the dollar as Ray Dalio said 'Cash is not trash' again as he thinks cash is an asset for the moment.." . While I am expecting the Oil will recover, I am more bullish on the oil price rather than ever and hoping the electric price will keep low for now. We know in the future electricity will be the independent factor for the purchase of assets in today's age. For now, I am quite bullish towards oils and other commodities while keeping my bearish statement towards all other pairs versus the dollar, cryptos, bullion, and Wallstreet market. . While in the meantime, I am keeping a bearish statement on gold. Just follow the trend. I am predicting the FED will increase it rates to 4.2%-4.5% (current at the writing rate is 2.5%). There will be more hikes to come. I am such a FED believer. We are beyond our control in this inflation. I am predicting the gold will turn bearish down to $1,580. My last year's prediction on gold was $1,440 and it depends on the FED raise. . We are in the circle that repeats on the past correction. I also believe the dollar will go above $150 mark in the index. Right now, I am hold my sell position towards gold beyond the mark below $1,600 an ounce. " INTERVIEWER: Thank you for your opinion and prediction about gold. We are totally appreciative of the time you spend on this interview.
OANDA:XAUUSDShort
by Zezu_Zaza
ProfZero likes relief trades, but calls BTC overheat for now 🤒INVESTMENT CONTEXT After choppy negotiations, the EU finally agreed on May 31 to ban oil and petroleum products from Russia, with a temporary exception for imports carried via pipeline Inflation reading in EU for the month of May scored 8.1% on a yearly basis, well above median analyst estimates of 7.8% and April 7.5% reading, underscoring inflation is still far from having peaked Insider buying at S&P 500 companies in May has been the strongest since March 2020, signaling that blue chip executives have called the bottom on their stocks President Joe Biden said on May 30 that the U.S. will not send Ukraine long-range rocket systems that could attack Russian territory, in an apparently de-escalatory move Blockchain assets confidently extended gains even as market sentiment persists in Extreme Fear territory, with BTC attempting to regain 32k in upward channel breakout PROFZERO'S TAKE ProfZero reads the latest signals from the West to Ukraine as underwhelming, and only mildly conductive of greater resolve to bring the conflict to an end. In fact, ProfZero and ProfOne already remarked the faltering cohesion of the bloc on crude oil could only translate into yet deeper fractures on natural gas, especially as the buy season for winter 2022-2023 is now reaching its peak Russia has signaled its willingness to facilitate the unhindered export of grain from Ukrainian ports to destination countries, in coordination with Turkey. The move may represent a major relief to several Middle Eastern and North African economies (Egypt, Lebanon, Libya and Tunisia in particular) that rely for at least half of the daily cereal supply from Ukraine - and a deflation factor on soft commodities at large ProfZero highly values insider buying to read bull cycles - definitely another relief element in the picture ProfZero is amongst those not caught off-guard by EU spike in inflation in May. As it was shared for the past month, there simply is no corner of the economy as of now from which price decreases could originate. Brent prices in fact keep swelling, and on May 30 they broke through USD 120/boe, a major technical as well as fundamental indicator; the embargo on two-thirds of crude imports from Russia certainly will not contribute to bringing prices down. With the ECB still expected to officialize its monetary policy, it is easy to see mounting pressure to for tighter interest rate increases - with all too known prospective effects on markets The two-day rebound staged by blockchain assets has reached a standstill, with BTC nonetheless trading firmly above USD 31.5k, pulling up the entire asset class (noteworthy overperformance of Layer-1 asset ADA, up 45% in 3 days). Yet ProfZero sides with rather bearish analysts, interpreting the rally as largely a relief trade out of oversold territory. Still, seeing BTC breaking out of the 2-week range-bound channel and potentially setting for leg (D) of a bearish Elliott wave may concur to moderately optimistic scenario in the short term PROFTHREE'S TAKE ProfThree and ProfZero agree - it’s time to talk about gold. Bullion has historically been responsive to changes in the Fed’s monetary policy, as well as to fluctuations in bond yields and US dollar. ProfThree doubts the recent slowdown in U.S. Personal Consumption Expenditures (PCE) print points to the peak of inflation already being at our back; in fact, the +50bps interest rate hikes expected for July and August are clear pitfalls ahead for zero-yielding gold. On a balancing note, ProfZero and ProfThree concur gold shall still enjoy price support on persistently higher inflation, and on Central Banks bolstering reserves in the wake of volatility
CME:BTC1!
by ProfZero
GDX higher into June regulatory shake up for LBMAJune 2021: May see the beginning of the end of the London Bullion Market Association The London Bullion Market Association (now known simply as LBMA), established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious metals". There will be a requirement for banks holdings to meet a ratio limit between tangible assets and unallocated assets. The ratio is named Required Stable Funding and the crux of the matter is that if the bullion banks can no longer trade their paper and unallocated gold without holding physical allocated assets, the derivatives market could collapse. The 3 parts of the Basel 111 regulations that affect the paper gold markets are: • The Available Stable Funding factor (ASF) is applied to the sources of a bank’s funding on the liability side of its balance sheet. Depending on the liability (shareholders’ equity, customer deposits, interbank loans etc.) they are multiplied by a factor, from 100% for the most stable forms of funding, such as Tier 1 bank equity, to 0% for the least stable. Being on their balance sheets, unallocated gold owed to a bank’s deposit customers is to be given a Basel III ASF of 0%, which means it will not be permitted to be a source of funding for any balance sheet assets, which must therefore be funded from other liabilities. • The Required stable funding (RSF) is to be applied to a bank’s assets. Unallocated gold positions are to be valued at 85% of their market value. Note that allocated gold, being held in custody, is not on bank balance sheets (except where the bank actually owns physical gold in its own right) and is therefore not involved in the calculation. • The Net stable funding requirement (NSFR) is the ASF divided by the RSF and must be at least 100% at all times.
AMEX:GDX
by TH_Analysis
2
GG....waiting for some guidance from goldIn a series of ascending wedges...green line represents the long average. I think we hit the end of the current triangle and with no gold news, continue in this .225 - .27 range. If gold gains some traction, along with the recent deal with backing from Palisades (that the market seems to have mixed feelings about), we could see GG pushing back into the .32 range. Working towards the recent highs will still take some work. I think the market went crazy for a minute with a bunch of sky is falling short term investors. This is the cooling period, shake out the stupid money that thought they were going to be millionaires based on a reddit post and then get back to realistic long growth.
TSXV:GGLong
by Honkytime