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
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
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
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrLeetw https://t.co/1w7E3aiWV1
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmI7kAV https://t.co/JiZPRZzwgo
  • RT @IGSquawk: Crypto update: #Bitcoin 56398.30 -7.34% #Ether 2213.91 -7.42% #BitcoinCash 925.49 -12.24% #EOS 6.8039 -15.98% #Stellar 0.5276…
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
Gold and Silver Prices Push Higher as US Real Yields Turn Lower

Gold and Silver Prices Push Higher as US Real Yields Turn Lower

Nick Cawley, Strategist

Gold (XAU/USD) and Silver (XAG/USD) Analysis, Prices and Charts

  • Gold price back above $2,000/oz as bulls return.
  • Silver breaks a bearish short-term pattern.
Gold Forecast
Gold Forecast
Recommended by Nick Cawley
Download our Q3 Gold Forecast
Get My Guide

The price of gold is back above $2,000/oz. and looks set to push higher as US real yields – US nominal yields minus inflation – turn lower. Last week’s bumper US Treasury auction saw a record USD 112billion of 3-, 10- and 30-year bonds auctioned off, pushing nominal yields higher as investors sought to buy bonds at cheaper prices. With this sale now starting to become digested, US Treasury yields are starting to turn lower again, sending real yields further into negative territory. US 10-year real yields are currently -0.97%. Gold prices move higher when US real yields turn lower.

Gold continues to take its cue from the recent supportive trendline that started in early-June. The precious metal has multiple touches on this trendline, adding to its validity, and any break lower below this trend has quickly been recouped and used as a springboard to press higher. Volatility has picked up after last week’s sharp sell-off and the precious metal is not overbought yet, leaving room for further gains.

IG client sentiment warns however that gold may turn lower, with retail trade data showing 80% of traders are net-long gold, a contrarian indicator. Traders are also further net-long on a daily and weekly basis, adding further to the contrarian bearish gold sentiment. Volatility is also near a multi-month high around $40/oz. so traders need to factor this in before committing to the market. To the upside the $2,018 - $2,030/oz. area should provide resistance before $2,075/oz. looms back into view.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Nick Cawley
Building Confidence in Trading
Get My Guide

Gold Daily Price Chart (January – August 18, 2020)

Gold and Silver Prices Push Higher as US Real Yields Turn Lower
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

Silver Continues to Make Short-Term Higher Lows

Silver is currently trading over 3% higher on the session at $28.18 and has made its fifth higher low in a row since slumping to a $23.44 low print last Wednesday. The 20-day moving average remains supportive with silver not opening below this indicator since mid-June. As with gold, volatility – using ATR – should be monitored as the current level is nearly four times higher than price action seen between mid-May and mid-July. If the 20-dma remains supportive then $26.26 should provide initial support while $29.20 and $29.42 provide prior high resistance ahead of $29.90.

Silver Daily Price Chart (January – August 18, 2020)

Gold and Silver Prices Push Higher as US Real Yields Turn Lower

Silver continues to out-perform gold in the short-term with silver up around 37% over the last month compared to gold’s 9%+ performance. This has forced the gold/silver ratio sharply lower from around 94 to 72 over the last 30-days.

Gold and Silver Prices Push Higher as US Real Yields Turn Lower

Chart via Goldprice.org

Trading the Gold-Silver Ratio: Strategies and Tips

What is your view on Gold and Silver – 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.

DISCLOSURES