0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Today's webinar 1. Gold pullback, looks like that bearish engulf from Friday did its work. 2. USD in range, but may be due for a stronger push as it approaches resistance. 3. Reversal scenarios in $USD, $AUD, $Euro and $NZD archive available now: https://t.co/wNs11Tux8M https://t.co/P3fiyo3KLv
  • A continued rise in US yields may see the Fed pick the Jackson Hole Symposium (as opposed to waiting until Sep meeting) to enlighten market participants on their monetary policy strategy review https://t.co/B5O4vcm8CF
  • I personally don't buy into the risk-on sparking a pullback in gold theme considering PMs have been moving in tandem with stocks for monthsYields (real yields) have been the main driver for the PM complex https://t.co/rVZXTff93U
  • Today's webinar archived and ready to go -> https://t.co/wNs11Tux8M https://t.co/P3fiyo3KLv
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule:Oil - US Crude: 0.23%Gold: -5.47%Silver: -13.52%View the performance of all markets via https://fxnews.org/?/charts#commodities https://t.co/Nggu2Z5njd
  • Gold rally faces a reality check as US yields surge with 30yrs rising as much as 10bps Largest drop in gold in past decade- Aug 11, 2020: -5.5% (Currently)- Jun 20, 2013: -5.43%- Apr 13, 2013: -8.5% https://t.co/bxI6zKpzh1
  • The trio of central banks associated with the Australian, Canadian, and New Zealand Dollars remain in a holding pattern, even as global growth conditions improve, particularly in Asia and Europe. Get your market update from @CVecchioFX here: https://t.co/FBAMsPoEE0 https://t.co/Qz3Yugq1Kz
  • Australian Dollar Price Forecast: AUD/USD Threatens Reversal https://fxnews.org/?/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/08/11/Australian-Dollar-Price-Forecast-JS-Aussie-AUDUSD-AUD-USD-Threatens-Reversal.html https://t.co/lZtZoUmW1T
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.17%, while traders in Wall Street are at opposite extremes with 74.60%.See the summary chart below and full details and charts on FxNews: https://fxnews.org/?/sentiment https://t.co/rvvFLo185X
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule:Wall Street: 1.12%FTSE 100: 0.59%US 500: 0.49%France 40: 0.15%Germany 30: 0.07%View the performance of all markets via https://fxnews.org/?/charts#indices https://t.co/O4DfCQgZKi
Gold Price Forecast: XAU All-Time-Highs, More to Go?

Gold Price Forecast: XAU All-Time-Highs, More to Go?

2020-07-29 16:30:00
James Stanley, Strategist
Share:

Gold, XAU, Gold Price Analysis:

Gold Prices Punch Up to Fresh All-Time-High

Well, it finally happened; and it only took 8 years. Gold prices have set a fresh all-time-high, breaking out this week to extend the precious metal’s bullish advance that started in the second-half of 2018. And, perhaps more accurately, Gold didn’t just set a fresh all-time-high, it surged right to it, soundly taking out the prior high water mark of 1920 on Monday and continuing to rally through Tuesday to a fresh high at 1981.20.

The big question now is the 2k marker and when Gold bulls might be able to muster the momentum for a first-ever test of that big figure.

Gold Monthly Price Chart

Gold Monthly Price Chart

Chart prepared by James Stanley; Gold on Tradingview

FOMC Looms Large, but Can it Bend the Trend?

The bullish theme in Gold has been going for almost two years now, sparking in the second-half of 2018 and really coming alive throughout last year as the Fed shuffled into a more dovish position. And coming into 2020, it appeared as though the Fed would continue moving to softer monetary conditions, which was one of the main reasons I looked at the bullish side of Gold as my ‘top idea for 2020,’ shared in the guide below.

Top Trading Opportunities in 2020
Top Trading Opportunities in 2020
Recommended by James Stanley
Get Your Free Top Trading Opportunities Forecast
Get My Guide

And while the Fed has grown considerably more dovish throughout 2020 trade, there’s likely nobody that could’ve predicted the driver for such a move. The fact that the coronavirus pandemic has roiled economies around-the-world, bringing along expectations for years of soft monetary policy, that bull argument for Gold has only grown stronger, leading to some of the most overbought conditions ever seen in Gold prices. But, as discussed numerous times in the recent past, the big question is how much that matters, as there’s been a clear driver pushing the bid in Gold and, at this point, there’s little reason to expect that to change.

The near-term complication is that 2k level. Will buyers be able to pick up the pace with price action beyond that major psychological level that’s literally never been in play before? Or, will this provide some element of pause for the move, allowing for price action to pullback; potentially finding support at a prior area of resistance?

Gold Forecast
Gold Forecast
Recommended by James Stanley
Download our Q3 Gold Forecast
Get My Guide

There are a few key spots of interest for such a theme, key of which is the prior all-time-high of 1920; and the 1900 psychological level can potentially be of interest, as well. On the topside of price action, there could be breakout opportunities on pushes up to fresh highs, looking for prices to make a move towards that 2k psychological level. But the proverbial rubber band is pulled back with this outsized breakout in Gold, so traders on either side of the matter should remain cautious in the near-term as volatile price moves can remain.

Gold Four-Hour Price Chart

Gold Four Hour Price Chart

Chart prepared by James Stanley; Gold on Tradingview

--- Written by James Stanley, Strategist for FxNews.com

Contact and follow James on Twitter: @JStanleyFX

FxNews provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.