Tag: gold price

GOLD As the week draws to an end the scenario for gold has swiftly changed, as the renewed strength of the greenback has seen a drop in the yellow metal to the key level of $1,700. Bullion has now lost almost all gains achieved earlier this week. Moreover, the bullish momentum seen on Wednesday and…

GOLD The dollar’s decline following the approval of the $1.9 trillion stimulus package and weaker than expected inflation has lifted the gold price and removed some of the recent fears about bullion. The price reaction was remarkable with gold jumping above $1,730 and moving the short-term momentum back into positive territory, a move that has…

OIL Yesterday’s OPEC meeting did nothing to dent the good mood of investors for oil. On the contrary, the decision to maintain current production restrictions (including cuts in Saudi Arabia) has given further buying impetus to the current bullish rally. WTI has jumped to a new Covid-era record at $65 a barrel, as investors are…

GOLD Gold is still suffering against the strength of the greenback with the price unable to rebound. Bullion has lost more than $350 from the record reached last summer as investors are betting on a quick economic recovery. Negative sentiment is still dominating in the short-term, while the medium-term trend has also been compromised by the…

GOLD Gold remains in the danger zone with a long row of decreasing lows certifying the temporary low investor interest in bullion. The strength of the greenback is increasing the bearish pressure on gold, an asset traditionally negatively correlated with the Dollar Index. Moreover, the rebound of yields seen last week has been detrimental for…

GOLD The commodity sector started the final trading session of the week in dark red with surging US yields worrying investors. Commodities, initially seen as a hedge to the potential return of inflation, are now being sold with copper slowing down and silver losing more than 2%. Gold hasn’t been able to benefit from this…