Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020. At press time, the yellow metal is trading at $1477 per Oz, representing 15.25% gains on a year-to-date basis. Anything above 13.2% would be the biggest yearly gain since 2010 when prices had rallied by 29.6%. The year gone by will be remembered for the...
XAU/USD , Confirmed is next CYCLE
GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains GBP/USD is trading below 1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.
Swiss Franc Likely to Stay Strong Despite Best SNB Efforts . . . . . . .
The XAU/USD pair gained more than $30 last week supported by the broad-based USD weakness and closed at $1511. With the poor performance of major Asian equity indexes and heightened geopolitical tensions in the Middle East, the pair stretched higher at the start of the week and renewed its best level in more than two months at $1515.90 before going into a...
The GBP/USD pair gained some positive traction during the early part of 2019 but then recorded some heavy losses over the subsequent six months and dropped to levels below the key 1.20 psychological mark in early September. The pair then rallied nearly 12%, hitting its highest level since May 2018 during the latter half of December in reaction to a landslide...