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.

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
More View more
Real Time News
  • How does stock market liquidity benefit its traders? Learn more here: https://t.co/FWKyIDUwAw https://t.co/tyoYrsh8mQ
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/4078fnQJON
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/kIIBffEMi7 https://t.co/tt59BU8lnS
  • Quarterly earnings from Netflix and Tesla, two big tech companies, will take center stage next week and could set the trading tone for the S&P 500 and the Nasdaq 100. Get your weekly equities forecast from @DColmanFX here: https://t.co/NOCqjJ3TLd https://t.co/HR5xUZeJXp
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.https://t.co/fG6fNEPj9q https://t.co/ymGaYjrl1g
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/FOMcsxci50
  • Further your trading knowledge and gain informed market analyses from our expert analyst @DavidJSong on Oil with our free Q4 guide, available for free today.https://t.co/Y6XECmr5fQ https://t.co/XQI3PN4bkQ
  • Nasdaq 100 may hit new high soon. https://t.co/ACtVqiOBl0
  • HSTECH index has likely formed an "Inverse Head & Shoulders" pattern. https://t.co/YFIQEYmuyq
  • The HSI has likely formed a “Double Bottom” chart pattern, which is usually viewed as bullish-biased. https://t.co/wMQ14A867Q
Gold Price Outlook: Gold Prices Achieve Modest Gains, Stocks Slide

Gold Price Outlook: Gold Prices Achieve Modest Gains, Stocks Slide

Tammy Da Costa, Analyst

Gold Talking Points:

To Learn More About How to Trade Gold & Other Commodities, Visit DailyFX Education

Gold and Silver prices have edged marginally higher as mounting concerns over global debt, inflation and Evergrande continued to spread through global markets.

The rising volatility combined with a shift in risk-sentiment, boosted demand for safe-haven Gold, weighing heavily of the equity market.

Related Articles: Understanding Inflation and its Global Impact

With this week’s economic calendar loaded with major risk events, Gold prices achieved modest gains relative to the fall in equities as consumers continue to look for signs of tapering from the FOMC, who is expected to address current economic issues at their rate decision on Wednesday.

Gold Price Outlook: Gold Prices Achieve Modest Gains, Stocks Slide

DailyFX Economic Calendar

Although Gold and Silver continue to hold a reputation as a hedge against inflation, recent economic data has raised the possibility of low interest rates remining in place for the remainder as Central Banks continue to wrestle with a variety of economic factors, including those around the pandemic.

Gold Price Analysis:

After rebounding off of the key Fibonacci retracement level of the 2021 move at $1744.19, Gold prices turned positive, allowing bulls to drive price action back towards the upper bound of the channel formation (shown on the weekly chart below).

Despite a shift in risk-sentiment, the 50% retracement of the 2020 move has continued to hold bulls at bay, holding firm at $1762.28 while the Commodity Channel Index (CCI) currently remains on the border of oversold territory.

Gold Weekly Chart

Gold Price Outlook: Gold Prices Achieve Modest Gains, Stocks Slide

Chart prepared by Tammy Da Costa using TradingView

Meanwhile on the daily time-frame, Gold prices are currently testing critical resistance at the above-mentioned move in an effort to regain the big level of resistance of $1800. With the CCI currently in oversold territory, this week’s major risk-events are likely to remain as the key catalysts for the imminent move.

Gold Daily Chart

Gold Price Outlook: Gold Prices Achieve Modest Gains, Stocks Slide

Chart prepared by Tammy Da Costa using TradingView

--- Written by Tammy Da Costa, Analyst for DailyFX.com

Contact and follow Tammy on Twitter: @Tams707

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

DISCLOSURES