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
Mixed
GBP/USD
Mixed
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
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
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Join Analyst @ddubrovskyFX for LIVE coverage of Australian CPI data where he will be discussing the outlook for the Australian Dollar beginning at 00:15 GMT on Wednesday the 29th below! $AUDUSD #AUDJPY $AUDNZD $AUDCAD - https://t.co/OkNykQSRsI
  • The New Zealand Dollar may fall against the Japanese #Yen after downside breakouts in $NZDJPY and an #NZD index. Fundamental catalysts include the #coronavirus, China PMI and the #Fed - https://www.dailyfx.com/forex/analyst_picks/todays_picks/daniel_dubrovsky/2020/01/28/New-Zealand-Dollar-Japanese-Yen-Outlook-NZDJPY-Uptrend-at-Risk.html?CHID=9&QPID=917702 https://t.co/r1R2CfwJzF
  • My trading video for the upcomign session: 'S&P 500, Crude Oil, Yield Curve Tumble as Risk Aversion Aligns to Flu Fears' https://www.dailyfx.com/forex/video/daily_news_report/2020/01/28/SP-500-Crude-Oil-Yield-Curve-Tumble-as-Risk-Aversion-Aligns-to-Flu-Fears.html https://t.co/Bcl3xX99ya
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.42%, while traders in US 500 are at opposite extremes with 67.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/VaZ5CnWGft
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.03% 🇬🇧GBP: -0.01% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.05% 🇨🇭CHF: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/EdKF0XF8z0
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.41% France 40: 0.40% US 500: 0.39% Germany 30: 0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8BrsH6ji0L
  • $AUDJPY technical positioning hints prices may be on cusp of turning lower after a late-2019 bounce, recoupling with a dovish RBA policy outlook. Get your market update from @IlyaSpivak here: https://t.co/z84Y0V0ZtH https://t.co/bmKUTN0PzJ
  • LIVE NOW! Analyst @ZabelinDimitri analyzes the cross-asset impact of geopolitical risks affecting markets in the week ahead here - https://www.dailyfx.com/webinars/146770987?CHID=9&QPID=917720
  • The Indian Rupee 2020 outlook is bearish as India faces stagflation risk amid rising onion and crude oil prices. $USDINR may rise in the medium-term as the RBI defers hiking rates. Get your market update from @ddubrovskyFX here: https://t.co/lRrlZjjfLY https://t.co/IpCiS3VpyN
  • Heads up! My colleague @ZabelinDimitri will be discussing items such #coronavirus, #Brexit and the #BoE, #FOMC, consumer data and corporate earnings. Join him for a session starting in about 10min below! https://t.co/aMuRtLhWKe
Gold Q4 Forecast: Gold Selloff Likely to Continue as Fed Proceeds with Rate Hikes

Gold Q4 Forecast: Gold Selloff Likely to Continue as Fed Proceeds with Rate Hikes

Share:

Faith in the Federal Reserve’s commitment to raising rates has thus continued to weigh down gold prices. Investors are heeding the Fed’s guidance and appear to base their strategy around the framework of a firmly hawkish monetary agenda. Barring an economic collapse that forces the Fed to reverse course, gold is likely to continue its downward trend throughout the fourth quarter.

The current downtrend, which started midway through the third quarter, comes after breaking the upswing from lows set in December 2015, suggesting resumption of the long-term dominant decline started in October 2012.

Gold Price Chart: Daily Timeframe (October 2016 to September 2018) (Chart 1)

Gold Q4 Forecast: Gold Selloff Likely to Continue as Fed Proceeds with Rate Hikes

July 2018 looks to have been a decisive month for spot gold prices. The selloff is now struggling to sustain momentum at the $1,200/oz figure, a previously significant inflection point. However, prices would need to reclaim a foothold above $1,300/oz and probably breach range resistance in the $1,357-75 area to invalidate the overall bearish bias.

See the complete Q4’18 Gold forecast as well as forecasts for the other major currencies, equities, and Oil.

--- Written by Ilya Spivak, Senior Strategist and Dimitri Zabelin, Analyst

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

DISCLOSURES

News & Analysis at your fingertips.