News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
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
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Build you crude oil strategy with some basic key insights. Hone your trading skills here: https://t.co/ekflhEeXRX https://t.co/f0JRsJeebc
  • 🇿🇦 Inflation Rate YoY (MAR) Actual: 3.2% Expected: 3.2% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-04-21
  • 🇵🇱 Employment Growth YoY (MAR) Actual: -1.3% Expected: -1.3% Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.68%, while traders in EUR/USD are at opposite extremes with 65.66%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cscTNspIcj
  • Heads Up:🇿🇦 Inflation Rate YoY (MAR) due at 08:00 GMT (15min) Expected: 3.2% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇵🇱 Employment Growth YoY (MAR) due at 08:00 GMT (15min) Expected: -1.3% Previous: -1.7% https://www.dailyfx.com/economic-calendar#2021-04-21
  • German Court rejects EU recovery package-related injunction $EUR
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0uF2Ct https://t.co/riBqX0OXx2
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.76% Gold: 0.33% Oil - US Crude: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vj2dFf16E2
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.19% 🇳🇿NZD: 0.12% 🇯🇵JPY: 0.07% 🇦🇺AUD: -0.04% 🇬🇧GBP: -0.05% 🇪🇺EUR: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RYCSlw7ZWw
Gold Price Outlook Boosted by Renewed Political Risk, Oil Tanker 'Attack'

Gold Price Outlook Boosted by Renewed Political Risk, Oil Tanker 'Attack'

Nick Cawley, Strategist

Gold Price Chart and Analysis:

  • Gold heading higher after reports of damage to two oil tankers, sparking political fears.
  • Gold chart retains bullish momentum.

The Brand New DailyFX Q2 2019 Trading Forecast and Guides are Available to Download Now!!

Gold Price Nears Fresh 14-Month High

Gold prices have moved higher Thursday after reports that two Saudi Arabian oil tankers have been damaged in the Gulf of Oman. In what has been described – but not yet confirmed – as sabotage attacks, one tanker was reported being on fire while the other was damaged during the incident.

Crude Oil Prices Spike on Possible Oil Tanker Attack in the Gulf of Oman

The latest incident will do little to settle ongoing political tensions between Ian and the US. On Monday, Iran’s foreign minister Mohammad Javad Zariff said that the US had launched an economic war against his country and warned ominously that ‘Whoever starts a war with us will not be the one who finishes it’. On November 5, 2018 the United States fully re-imposed sanctions on Iran, targeting critical areas of Iran’s economy including energy and shipping.

US Department of the Treasury – Iran Sanctions

Gold retains its bullish outlook despite yesterday’s move higher in the US dollar, and is looking to set a new 14-month high, beating last Friday’s $1,348.25/oz. All three moving averages remain bullish while gold tested and then rejected the recent double-low at $1,320/oz. a level also defining the top of a gap on the June 3 bullish candle. The US dollar continues to find support from its 200-day moving average but a decisive break and close below may well start a new move lower, boosting the value of gold.

Gold Daily Price Chart (September 2018 – June 13, 2019)

Gold Price Outlook Boosted by Renewed Political Risk, Oil Tanker 'Attack'

IG Client Sentimentshows that retail traders are 59.8% net-long gold, a bearish contrarian indicator. Recent daily and weekly sentiment shifts however suggest a stronger bearish bias.

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on gold – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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

DISCLOSURES