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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Chinese property development company Sinic Holdings (2103) - Down 87%...@DailyFXTeam #contagion #Evergrande
  • 🇪🇸 Balance of Trade (JUL) Actual: €-1.60B Previous: €-0.98B
  • Heads Up:🇪🇸 Balance of Trade (JUL) due at 08:00 GMT (15min) Previous: €-0.98B
  • Fitch on China Property Developers - View will turn negative if sales in H2 21 fall below that achieved in H2 19 and/or if sharp fall follows through to H1 22 - Government policies in sector remain tight and show no sign of imminent loosening
  • 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:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • (USD Weekly Tech) US Dollar Dominant Uptrend Back In Focus: EUR/USD, USD/JPY, NZD/USD, USD/CHF
  • What is your forex trading style? Take the quiz and find out:
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here:
Gold Price Rally Stoked by Trade War Fears, Silver Price Eyes Fresh Highs

Gold Price Rally Stoked by Trade War Fears, Silver Price Eyes Fresh Highs

Nick Cawley, Strategist

Gold (XAU) Price, Silver (XAG) Price Analysis and Chart

  • US-China trade war continues – Is Europe next for US President Trump?
  • Gold and Silver likely to push higher after consolidating.

Q3 2019 Gold Forecast and Top Trading Opportunities

Gold Price Rallies on Trade War Flare Up

The price of gold hit a fresh six-year high as the US-China trade relations took a turn for the worse at the end of last week, with both sides upping tariffs on imports. In releases over the weekend, US President Trump said that China officials had been in touch with him and want to make a trade deal, although this was later denied by one of the newspapers/channels that China use for ‘unofficial’ releases. Gold hit a fresh high of $15,552/oz. before fading back but a re-test of this high is likely. The Fed is expected to cut interest rates at the next FOMC meeting by at least 25 basis points and continue cutting through the rest of the year. Lower USD interest rates are beneficial for the price of gold.

Gold Price Rally Primed For a Fed Boost, Silver Price Struggling

Ahead this week, US Q2 GDP will be closely watched for any signs of weakness in the economy, while President Trump will also look at the advance goods trade balance for vindication of his use of trade tariffs.

Gold Price Rally Stoked by Trade War Fears, Silver Price Eyes Fresh Highs

The price of gold is likely to consolidate over the next few days but having broken the $1.552/oz. high is set to move even higher. Ahead, the weekly chart suggests horizontal resistance around $1,620/oz. from back in February 2013, while the 61.8% Fibonacci retracement of the September 2011 ($1,921/0z.) to December 2015 ($1,047/oz.) move cuts in at $1,587.5/oz.

Gold Price Weekly Chart (May 2012 - August 27, 2019)

Gold Price Rally Stoked by Trade War Fears, Silver Price Eyes Fresh Highs

IG Client Sentiment data show that 64.7% of retail traders are net-long of gold, a bearish contrarian indicator. However, recent daily and weekly positional changes give us a stronger bearish contrarian trading bias.

How to Trade Gold: Top Gold Trading Strategies and Tips

Silver Looks Underpinned and Primed for $18.66/oz+

Silver continues to rally alongside gold and the latest push higher took it back to levels last seen just under two years ago. The weekly chart continues to see old lower highs broken and new higher lows made, with two horizontal resistance levels at $18.22/oz. and $18.66/oz. the next upside targets. A break and close above the latter level would leave the July 2016 high at $21.14/oz. the next, longer-term target. The market remains in overbought territory and a period of consolidation is needed before the next move.

The gold/silver ratio is marginally lower at 86.50.

Silver Weekly Price Chart (December 2016 – August 27, 2019)

Gold Price Rally Stoked by Trade War Fears, Silver Price Eyes Fresh Highs

How to Trade Silver: Top Trading Strategies

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 and Silver – 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.