We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The British Pound may fall as #Brexit commences, but will the Bank of England cut rates? The US Dollar could rise if the Fed spooks markets with plans to unwind repo operations $GBPUSD #BoE #GBP #Sterling - https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/01/26/British-Pound-May-Yet-Fall-on-Brexit-BoE-and-Fed-Are-Risks.html?CHID=9&QPID=917702 https://t.co/v39NsmOCwa
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/5VQdkbIqTo
  • Last week was more of the same, a narrowing range following the UK general election fireworks; GBP/USD has a couple of clear signposts to keep an eye on. Get your $GBPUSD technical analysis from @PaulRobinsonFX here: https://t.co/3pJfj0w2AX https://t.co/Cm6zhnBSGR
  • The $AUD is pressuring four-month trend support against its US counterpart as sellers fight to reassert the dominant, long-term downtrend. Get your market update from @IlyaSpivak here: https://t.co/Bup64Arva9 https://t.co/OLpavqPOVA
  • RT @globaltimesnews: A total of 1,052 cases of #coronavirus have been reported as of Jan 25 in #Hubei Province, with 129 in critical condit…
  • RT @FactSet: $SPX is reporting revenue growth of 2.9% for Q4, led by the Health Care (11%), Utilities (9%), and Communication Services (9%)…
  • The AUD has been hit by the risk-appetite pullback occasioned by the spread of Wuhan-strain coronavirus. This week may see domestic focus return, if headlines allow, with key inflation data due. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/UIpwno0pSq https://t.co/kib4d1mA0q
  • RT @anilvohra69: USD inverted (red) is correlated to Excess Reserves (blue) and Reserve Balances (green). 1/2 https://t.co/bbO1pPWY4F
  • RT @FactSet: $SPX is reporting a decline in earnings of -1.9% for Q4, led by the Energy (-42%), Consumer Discretionary (-14%), and Material…
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/6iMyDFqnqe
Guest Commentary: Gold & Silver Daily Outlook 03.27.2012

Guest Commentary: Gold & Silver Daily Outlook 03.27.2012

2012-03-27 15:26:00
Lior Cohen, Energy Analyst for Trading NRG,
Share:

Gold and silver sharply rose for the second consecutive business day. The big news from yesterday was Bernanke's speech on the labor market, which rekindled the speculation of the Fed's monetary intervention in the U.S market. This in turn may have been among the key factors in pushing bullion up during yesterday's trading. Today, U.S. consumer confidence report will be published, and Bernanke will give a short speech (but not in the same magnitude to affect the markets as yesterday's speech).

Gold prices sharply rose on Monday by 1.4% to $1,688; silver also traded up by 1.48% to $32.75.

The ratio between gold and silver slipped to 51.55. During the month the ratio rose by 4.35% as silver has underperformed gold. In the chart below are the changes in this ratio during the month.

Guest_Commentary_Gold_Silver_Daily_Outlook_03.27.2012_body_27.png, Guest Commentary: Gold & Silver Daily Outlook 03.27.2012

On Today's Agenda

U.S Consumer Confidence: according to the recent report, the consumer confidence index increased in February compared with January's index. The current expectations are that this index may change direction and decline in the March index despite the U.S. economy's signs of progress; this report might affect bullion via USD;

Forex / Gold & Silver– March

The EUR/USD rose on Monday by 0.67% to 1.3359; furthermore, the AUD and CAD also appreciated against the USD by 0.68%, and 0.73%, respectively. The AUD, CAD and Euro were historically linearly correlated with the daily percent changes of gold and silver prices. If the Euro/USD and AUD/USD will keep their rally today then they may indicate gold and silver prices may also rise.

Daily Outlook

Gold and silver started to show strength in the last couple of days as both metals trade up sharply in the last couple of business day. The recent dovish speech of Bernanke regarding the labor market will probably continue to have lingering effects on the metals markets. Even though the fundamentals haven't changed, the recent market sentiment may have shifted again and we might be seeing speculative funds entering the gold and silver market and thus driving metals up. Today, the U.S consumer confidence report may also affect the USD and consequently metals.

This gold and silver outlook was first presents in Trading NRG

For further reading:

Gold and Silver Prices Outlook for April 2012

Gold and Silver Prices Weekly Outlook for March 26-30

By: Lior Cohen, M.A. in Economics, Commodities Analyst and Blogger at Trading NRG

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.