Gold prices wallowed near lows hit in the previous session as traders worried about a fragile ceasefire deal between the US and Iran. At the same time, gold ended June in the red amid a surge in Fed rate hike expectations. Market participants are now eagerly awaiting the US nonfarm payrolls report for further clues Read More…
Introduction Most traders believe the key to success in financial markets is finding the perfect strategy. They spend months testing indicators, switching systems, watching YouTube videos, and searching for the ‘holy grail’ that finally changes everything. At first, this feels like progress because learning new concepts creates the impression that success is getting closer. But Read More…
Gold continued sliding on Tuesday as demand fell amid a rally in Treasury yields. The precious metal started falling after the Fed held a surprisingly hawkish stance last week. Afterwards, rate hike expectations soared, increasing the opportunity cost of holding gold. It also overshadowed optimism from easing geopolitical tensions in the Middle East. Bullion has Read More…
Introduction Gold futures continue to follow the bearish roadmap we have outlined throughout June. In our June 10 and June 17 analyses, we looked at how the breakdown below the 4,400–4,450 support zone shifted control firmly toward sellers and exposed the March swing low near 4,165. While buyers initially managed to hold this support, the Read More…
Introduction Our June 10 analysis focused heavily on the importance of the $4,160 support level after Gold broke below the ascending trendline and former support zone near $4,400. The good thing for the bulls is that price was able to hold the support level at $4,165.2. We could see a new test of this level Read More…
Gold remained elevated on Tuesday as the opportunity cost of holding the precious metal fell after news of a US-Iran peace deal. After the announcement over the weekend, traders slashed bets for a December Fed rate hike. At the same time, market participants are awaiting the FOMC policy meeting to assess policymakers’ remarks. The rally Read More…
