Never miss a story from Ilya Spivak

Subscribe to recieve updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from Daily FX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Ilya Spivak

You can manage you subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Talking Points:

Gold prices surged as the US Dollar weakened despite seemingly supportive upshift in front-end Treasury bond yields and a steepening priced-in outlook for the 2018 Fed rate hike path. The currency’s troubles might have reflected capital flows out of cash and into riskier assets as traders reallocated portfolios after the holiday lull. The metal may suffer if the greenback finds a lifeline in minutes from December’s FOMC meeting.

Crude oil prices drifted higher, cautiously building on previous gains triggered just before the calendar turned to 2018. The weekly set of API inventory flow statistics is now in focus. The release will be weighed up against official EIA figures expected to show raw material storage shed 4.5 million barrels last week while 1.93 million barrels were added to gasoline stocks.

What are the forces driving long-term crude oil price trends? Find out here!

GOLD TECHNICAL ANALYSISGold prices are aiming at resistance marked by the 61.8% Fibonacci expansion at 1330.89 after clearing the 50% level at 1312.90. A daily close above the former level exposes the 1353.15-57.50 area (76.4% Fib, September 8 high). Alternatively, a reversal back below 1312.90 opens the door for a retest of the 38.2% expansion at 1294.91.

Gold Prices May Retreat on FOMC Minutes After Breaching 1300 Mark

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSISCrude oil prices continue to edge higher after completing a bullish Triangle chart pattern, as expected. Breaking above the 38.2% Fibonacci expansion at 62.31 on a daily closing basis targets the 50% level 64.32. Alternatively, a return back below the 23.6% Fib at 59.83 sees the next downside barrier at 58.30, the 14.6% expansion.

Gold Prices May Retreat on FOMC Minutes After Breaching 1300 Mark

Chart created using TradingView

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak