WTI rebounds towards two-month highs above $82 despite looming China risks
WTI is probing its best levels since early November in the $73.00 as geopolitical tensions rise. Analysts/banks have been calling this week for WTI to hit/surpass $100 per barrel in 2022. Oil markets have recovered from Thursday’s very mild stumble and are back on the front foot on Friday. Front-month...
Gold Weekly Forecast: Bulls to take action with a break above $1,830
Gold rose this week as 10-year US T-bond yield retreated from two-year highs. Key resistance for XAU/USD seems to have formed at $1,830. US economic docket will not be offering any high-impact data releases next week. Gold started the new week on a firm footing and staged a recovery...
Gold: 10-year US Treasury yields are back above 1.50%, pressurizing gold price
Amid thin-year end liquidity conditions, gold price continues to trade choppy within familiar levels, largely pivoting around the $1,800 mark. The downbeat sentiment around gold price could be attributed to a broad-based US dollar rebound, aided by the recent strength in the Treasury yields. The Technical Confluences Detector shows that the...
Gold down but not out while above the $1,800 mark
Gold price put up a good show on Tuesday, by extending the previous rally to reach a new monthly top at $1,820. Sellers, however, continued to lurk at higher levels, triggering a sharp pullback in gold price to $1,805 levels. Tuesday’s sharp correction from the monthly top saw gold...
Gold bulls finally take out $1,814, what next?
Gold price rebounds to hit fresh five-week highs at $1,816. Despite the recent upward trajectory, gold price is on track to book its first annual loss in three years. The immediate upside, however, appears capped by $1,817, where the pivot point one-day R1 converges with the pivot point one-week...
Gold bulls face a critical resistance area at around 1,815.00
The dollar is down in a risk-on scenario, after enjoying some temporal demand heading into the US opening. Gold trades at around $1,807, not far from a fresh weekly high of 1,810.02. XAU briefly fell below the 1,800 threshold following the release of the first batch of US data....
Gold: Bulls eye $1,816 as USD eases ahead of key data
Gold grinds higher around the weekly top, rises for the second consecutive day. Optimism over US stimulus, Omicron studies favor bulls. The cautious mood ahead of US Durable Goods Orders, PCE Inflation for November joins China, White House updates to probe upsided 1,806.89 XAU/USD Auto Trend Lines SMA (200,0) SMA (100,0) EMA (50,0)Chart Tools ...
Gold eyes $1,776 support amid subdued markets
Gold price remains depressed below $1,800 amid a lack of fresh catalysts. Focus shifts to the US top-tier economic data for fresh trading impetus. The Technical Confluences Detector shows that the gold price is teasing the previous day’s low at $1,785, eyeing a sustained move below that level to challenge the...
Gold Price Forecast: XAU/USD steady around $1800 as US T-bond yields drop
The yellow-metal climbs for the third consecutive day, up some 0.15%. The US 10-year Treasury yield falls below the 1.40% threshold, underpins gold. XAU/USD Technical Outlook: Neutral-bullish, as long as it remains above $1,792.95. Gold (XAU/USD) advances for the third successive day, aiming towards ending the week on a...