All of which is bearish for the dollar in the short-to-medium term Spot gold over the past twelve months Since our most recent note, a fortnight ago, the markets have had the Jackson Hole Symposium to absorb, disappointing employment numbers from the United States, members of the European Central Bank talking of closing out the […]
Gold more resilient than the headlines suggested last week
Last week we were looking back at the heavy fall, subsequently unwound, in gold the previous Monday in the so-called “flash crash” which took over $100 or just over 1% off the price. The CFTC numbers for Commitment of Traders, released on the Friday of that week, relate to a trading week ending on Tuesday […]
Gold down last week but reasserting in risk-off ode this morning. Mixed emotions.
Last week saw gold stage its first weekly decline since the big clear-out after the Federal Open Market Committee (FOMC)’s mid-June meeting, but while this fact is catching the headlines the bigger picture shows gold continuing in a period of consolidation in a narrow range centred on $1,800. The technical construction on the chart suggests […]
Risk-aversion hits silver
After the washout in mid-June following the Fed’s shift in stance, the bargain hunting that we noted over the following two weeks extended into last week also, taking prices up to a test of $1,830 last Thursday, before running out of momentum. At that stage, based on the technical study Bollinger bands, and to a […]
Gold’s technical picture is improving; silver is more sluggish.
When we last wrote this column a fortnight ago gold and the bond markets had both heavily overreacted to the Statement following the Federal Reserve’s Open Market Committee (FOMC) meeting, with gold prices falling heavily and the bond yield curves initially steepening. It didn’t take very long for the bonds to settle down and the […]
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