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.



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
Oil - US Crude
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
  • Fed's Brainard: - Valuations "are elevated in a number of asset classes relative to historical norms" - Variety of risks related to the virus could result in a sudden change in investor risk sentiment #Fed $SPY $QQQ
  • Fed's Brainard: - Pandemic showed flaws in financial system - Need to consider reforms to protect against future shocks #Fed $USD
  • Fed's Brainard says stress that emerged in treasury markets may suggest need for standing repo or other changes
  • BoE's Ramsden: - Contingency planning is very different from thinking negative rates will be used - We want to be in a position that if things don't improve like our forecasts say, the tool of negative rates can be feasibly used if necessary #BoE $GBP
  • Heads Up:🇺🇸 Fed Brainard Speech due at 14:05 GMT (15min)
  • Heads Up:🇺🇸 Fed Williams Speech due at 14:00 GMT (15min)
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.84%, while traders in France 40 are at opposite extremes with 67.81%. See the summary chart below and full details and charts on DailyFX:
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into start of the week / month!
  • wrote up the $Gold forecast for this week, a major level already in-play ~1725. #NFP the big item on the calendar, but lots of space on the chart until Friday
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.58% 🇦🇺AUD: 0.46% 🇳🇿NZD: 0.22% 🇪🇺EUR: -0.16% 🇯🇵JPY: -0.16% 🇨🇭CHF: -0.59% View the performance of all markets via
Gold Outlook Brightens as Politics Turn Risk Sentiment Sour

Gold Outlook Brightens as Politics Turn Risk Sentiment Sour

Nick Cawley, Strategist

Gold Price (XAU/USD) Analysis, Price and Chart

  • Gold gaining a small safe-haven bid as US-China tensions increase.
  • China moves to impose national security laws on Hong Kong.
Gold Forecast
Gold Forecast
Recommended by Nick Cawley
Download our Updated Gold Forecast
Get My Guide

Gold Underpinned as US-China Political Tensions Grow

As political tensions between the US and China increase, gold is picking up a safe-haven bid ahead of the long weekend and may look to press higher. This week, the US continued to discuss barring Chinese companies from listing on US stock markets, cutting off an important flow of capital, while US President Donald Trump continued to warn China that the US would impose additional tariffs on the country in response to perceived Chinese inactions over the COVID-19 virus outbreak.

The Hong Kong stock market fell sharply overnight after China proposed a new security law in Hong Kong that would override parts of Hong Kong law. There are fears that China will now over rule elected Hong Kong officials and impose their new security laws. The Hang Seng finished the session 5.6% lower, its largest fall since 2015.

With the risk being shunned, gold has edged higher and continues to consolidate its recent push higher. The precious metal hit a seven-year high of $1,766/oz. at the start of the week after breaking out of a bullish pennant formation last week. The CCI indicator has moved back from being extremely overbought on this week’s fade lower, while short-term support from the 20-dma ($1,716/oz.) remains in place. Recent highs between $1,748/oz. and $1,755/oz. will act as resistance ahead of the May 18 multi-year high.

Gold Daily Price Chart (December 2019 – May 22, 2020)

Gold Outlook Brightens as Politics Turn Risk Sentiment Sour
How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Nick Cawley
Improve your trading with IG Client Sentiment Data
Get My Guide

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

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