Gold made another $100 plus candle on back of a falling dollar nestled between the support and the resistance with actual movement being less than $5. Once again price movement reiterated the trend as the support remained firm with buying emerging at every dip. One can point out the rejection of $2000 but again it can be treated as flushing out retail longs before...
Gold had a huge week with a candle of over 180 points where it saw one of the biggest intraday fall lately all getting accounted for the overbought state of the metal since fundamentals didn’t change a bit nor did the dollar see a reversal in trend. This move, probably a historical one was largely a technical pullback/retest of previous highs as things were...
Gold scooted past $2000 in another large ranged week as dollar continued its downtrend. Another milestone in matter of 3 weeks simply puts across a stern message regarding the trend and its follow through, this parabolic move does indicate a lot towards FOMO rally but again the precious metals basket got an overall lift when silver mobilized real hard suggesting...
Gold continued its relentless rally as it gained $74 for the week not allowing even a single negative tick. The close above $1900 made the handsome gains pretty obvious as once the all time high is crossed its certainly no looking back unless there is a dramatic turnaround, not only it created another closing high but now the support moves a notch higher near the...
Gold hatched above $1900 (weekly closing) on back of an unforgiving $100 rally from the lows as dollar continued to devalue. This parabolic move resembles a classic FOMO rally but it doesn’t seem to be exhausting anytime soon since there are still good amount of shorts in the system which if covered can keep the pace of increase intact. Geopolitical and economic...
Gold ultimately closed (weekly) above $1800 broadly on account of an ever increasing safe haven demand due to persisting fears regarding global growth and a falling dollar. Coronavirus pandemic still remains the biggest cause of worry as it has led/leading to sizeable and unforeseen economic disruptions across the globe, even as few countries are trying to ease...
Gold finally managed to break past $1800 after a gap of 8 years and 8 months mainly due to increased safe haven demand in a suffocating global situation caused by the raging pandemic which is only getting worse. Geopolitical tensions remain an ongoing concern as the Trade Deal between the U.S and China remains in limbo since the U.S President decided not to go...
Another 52 week closing high (weekly) for gold as pandemic continues to roil the globe with infections surging to record highs in various countries. The onslaught caused by the coronavirus still fails to truly show in the economy as the recent data suggests a miraculous turnaround from the lows that too at a never seen before pace whose gap from reality is just...
Gold extended its bull run hitting a fresh 52 week high broadly on account of deepening global crisis due to the persistent wrath of the pandemic. The economic outlook gets grimmer day by day as number of infections are surging pretty fast forcing the countries to put a screeching halt to their phased re-openings (of economies). Moreover, the race for vaccine is...
Gold moved higher finally making a new closing high in weekly timeframe amidst the ongoing chaos worldwide. Situations globally are refusing to die down rather fresh concerns keep popping up adding to the already long list of woes. Fresh surge in new cases along with few countries facing 2nd wave of infections have again stoked growth fears as the worst affected...
Gold reversed all the last week’s loss as it formed a large green candle closing rather too comfortably over $1700 on account of fears regarding 2nd wave of infections and a very slow path of economic recovery. This was bound to happen as the gap between reality and euphoria was outstretched forcing some sanity back into the financial markets as the riskier asset...
Gold had an ugly week with $1700 broken on closing basis primarily due to better than expected jobs data from the U.S which further increased the appetite for riskier assets. Also helped the fall was the reopening of the economies worldwide which led to increased demand of commodities indicating growth. All the bad news revolving around increasing virus cases with...
Gold had a quite eventful week where it briefly broke $1700 mainly due to increased risk appetite worldwide before settling back above the support though with minor cuts for the week. More so, as economies kept on opening or showed signs of also led a hand in the fall which was negated or simply bought as the metal had decisively broken out plus nothing as far as...
Gold relatively had a small actual movement compared to the week’s range which saw the metal create a fresh 52-week high amidst growing uncertainties, increased geopolitical tensions and the dominant coronavirus pandemic. With the world fighting its way out from the lockdown, last week’s news flow regarding China’s policies further worsened the already mistuned...
Gold resumed its uptrend as it finally broke out from the consolidation making a fresh 52 week high while having a new (weekly) closing high as well. This move was on expected lines which further empowers the metal for a sustained run as renewed trade tensions and the pandemic continues to haunt with virus showing no signs of retreating rather some countries could...
Gold had a flat week with very little actual gains as it still remained in consolidation after a mammoth rally. With countries under immense pressure to re-open economic activities along with linear growing infections globally, it certainly invites a cloud of uncertainty about the future as in weekend South Korea and China reported fresh cases, second wave of...
Gold had a red bar after a gap of 3 weeks mainly on account of retracement as there seems no cause for the yellow metal to show any weakness in this unfortunate time which is daily drying up population worldwide. With the economies shut all around and most of the Governments providing stimulus (The main focus being the Fed with unlimited QE) the demand for gold...
Gold had one of its best weeks as it gained $88 in another big ranged bar as risk-off continued with nearly every other asset class receiving a battering due to the novel coronavirus. With volatility at its peak, it did not leave out gold as well but sanity prevailed as last week’s losses were erased and metal registered new 52 week high on closing basis. As China...