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
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Overall, Powell sticks with the current Fed stance and hence the move with the USD and UST yields higher, while gold tests 1700 https://t.co/78ds2uS2i9
  • #Gold is hitting fresh nine-month low in the aftermath of Fed Chair Powell's speech, falling to currently trade right around $1,700 for the first time since June of 2020. $XAU $GLD https://t.co/6OJ5Fn4Kn8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.38%, while traders in Germany 30 are at opposite extremes with 70.84%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Lgws7z82Gc
  • $Silver testing confluent support, trendline + 23.6 fibo $SLV $XAG https://t.co/UTHhXzPS1v
  • $EURUSD tripping back down to the 1.2000 level on these Powell comments https://t.co/SAAMVbJtpe https://t.co/NXBumuo4qA
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 5.61% Gold: -0.15% Silver: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ssjMeko9zk
  • $DXY US Dollar Index spiking to session highs on the back of this move in yields. $EURUSD tumbling down to the 1.2000-level. https://t.co/ZPADmoQfHe
  • The gold breakdown is now testing the first major hurdle at downtrend support early in the month and we’re on the lookout for possible inflection into this region. Get your $XAUUSD technical analysis from @MBForex here:https://t.co/oBxtJDJIT9 https://t.co/o1qKrWbCXT
  • - Financial conditions are highly accommodative and that's appropriate
  • Powell reiterating remarks from other FOMC officials about recent bond market volatility, saying that the surge in yields has been 'notable and caught his eye.' US10YR jumping toward February's high around 1.55% now. https://t.co/qqKojyncii
Gold Price Weakens on Trade War Optimism, Mixed Market Signals?

Gold Price Weakens on Trade War Optimism, Mixed Market Signals?

Nick Cawley, Strategist

Gold Price Analysis, Charts and Prices

  • Gold gives back all the last five weeks gains.
  • Daily chart flashes an oversold warning, sentiment remains bearish.

Q3 2019 Forecasts and Top Trading Opportunities

The recent sell-off in gold has come to a temporary halt below $1,500/oz. as risk appetite picks up. The latest market talk concerning the ongoing US-China trade dispute is suggests a cooling of hostilities between the two sides ahead of high-levels trade talks next month. A story in the South China Morning Post, citing an anonymous source, said that China is looking to buy more US agricultural products as a trade deal sweetener. The report also said that China has offered to buy American products in exchange for a delay in a series of US tariffs and an easing of the Huawei supply ban. In June 2018, the US said that it would impose tariffs on $50 billion of Chinese goods, deteriorating relations between the two global super powers.

Gold has moved lower this week as markets look to price in this potentially, good news. Gold retains its status as one of the top safe-haven assets, alongside the Japanese Yen and the Swiss Franc, and any easing of trade tensions will see markets turn risk-on.

A look at the daily gold chart shows that gold fell to just above $1,484/oz. yesterday, a one-month low. The next level of support is a cluster between $1,472/oz. and $1,479/oz. and this zone needs to be watched closely in the event of any further sell-off. Below here, the 23.6% Fibonacci retracement level at $1,463.5/oz.

The daily chart is flashing an oversold warning with the CCI indicator deep into negative territory and near a five-month low. However the The IG Client Sentiment Indicator shows that retail traders are 70.0% net-long of Gold, a bearish contrarian bias and recent daily and weekly changes give us a stronger spot Gold bearish trading bias.

How to Trade Gold: Top Gold Trading Strategies and Tips

Gold Price Daily Chart (March – September 11, 2019)

Gold Price Weakens on Trade War Optimism, Mixed Market Signals?

The IG Client Sentiment Indicator shows retail traders are 70.0% net-long of Gold, a bearish contrarian bias. However daily and weekly changes give us a stronger spot Gold bearish trading 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