Andz50

Andz50

Daily digest market movers: Fed rate cut bets on watch Chinese consumption stocks rise as the nation’s annual political gathering wraps up with support for domestic demand. Hong Kong jewelers lead the gains, bolstered by haven demand for Gold proxies, Bloomberg reports. Wall Street is growing angsty as investors become increasingly unnerved by whipsawing tariff...

Andz50

Gold has broken clearly back above a major long-term trendline and is attempting to break above the (red) 50-day Simple Moving Average (SMA) at $2,661. These are bullish signs. The precious metal’s short-term trend is bullish, and given the maxim that “the trend is your friend,” the odds favor a continuation higher. The next target to the upside lies at $2,686,...

Andz50 Updated 

Gold price climbs extending its gains for the third straight day, shrugs off a buoyant US Dollar as risk aversion boosts safe-haven assets. The golden metal has risen over 3.40% during the week, with buyers eyeing the $2,700 mark. The XAU/USD trades at $2,650, up 0.69%. Bullion’s decline toward a two-month low of $2,536 can mainly be attributed to investors...

Andz50

Gold price stays firm for the second consecutive day so far, drawing support from the recent retracement in the US Treasury bond yields across the curve, fuelling the corrective downside in the US Dollar (USD) against its major currency rivals. The US bond yields have embarked upon a correction mode as investors remain wary of the impact of the potential fiscal...

Andz50 Updated 

As we can see, gold is consolidating and will look to move higher for several reasons: Major concerns around gold include the likely implementation of tariffs on European and Chinese imports by the Trump administration, combined with an easing of business regulations and fiscal policy Gold prices are expected to remain supported by geopolitics, particularly the...