Market Analysis – May 29 Gold price action has formed a notable double-top pattern on the daily chart. The double-top pattern traditionally signals a potential reversal or a deceleration in the prevailing bullish trend. Despite this, it is important to highlight that no significant demand zones or swing lows have been compromised, thus keeping the […]
Gold prices rose on Tuesday, buoyed by a softer dollar as investors eagerly await U.S. inflation data later this week to gauge the timing of potential interest rate cuts. Spot gold advanced 0.4% to $2,359.85 per ounce by 10:16 a.m. ET (1416 GMT), while U.S. gold futures increased by 1.1% to $2,360.70. The dollar decreased […]
Market Analysis – May 24 Gold has exhibited exceptional performance over the past two months. From December to February, the price of gold remained relatively stable. However, March saw a breakout from this prolonged consolidation, injecting volatility into the market. The price surged to $2431.0, marking the highest point of the year so far. Gold […]
Market – May 19 Gold price ascent took off in February. The spread of the Williams Alligator strings revealed a transformation from a long-term consolidation to an uptrend. The price soared till the supply level of 2414.0 was reached. Gold prices crashed upon reaching the resistance level. Bulls have reorganized to enforce a breakout above […]
Market Analysis – May 9 Gold has undergone a notable transformation this year, transitioning from a period of price stagnation to a robust uptrend. The breakout above the critical level of 2074.0 marked a significant turning point, fueling a sustained ascent in price. However, the recent emergence of a correction phase in the gold market […]
Commodity prices are anticipated to experience a modest decline in 2024 and 2025, yet they should stay above pre-pandemic levels. Energy prices are projected to decrease by 3% in 2024 due to lower natural gas and coal prices outweighing higher oil prices, with an additional 4% drop expected in 2025. Agricultural prices are also set […]
Market Analysis – May 2nd The Gold market has taken a decisive turn, marking a significant departure from the protracted tug-of-war between bullish and bearish forces that characterized the trading landscape from November through February. This period was marked by a pattern of fleeting rallies promptly neutralized by retracements, leading to a protracted phase of […]
Market Analysis – April 26th Gold (XAUUSD) market has recently emerged from a prolonged period of subdued activity, marking a notable shift in its dynamics. From November to February, the market experienced a decline in volatility, characterized by sideways movement and diminutive candle sizes on the daily chart. During this phase, volume bars exhibited consistent […]
As economic data disappoints, investor uncertainty is causing market volatility.On Thursday, the Commerce Department released its estimate of first-quarter Gross Domestic Product, revealing a growth rate of 1.6%—significantly below the 2.3% consensus forecast. Stock prices declined in response to the news, but gold and silver markets recovered slightly from earlier-week lows.The recent dip in metals […]
