Gold prices rose 1% on Tuesday and extended these gains on Wednesday as investors hoped for rate cut signals from the Fed meeting. The rally in gold came despite positive US data highlighting the economy’s resilience. Gold traders eagerly await Wednesday’s FOMC meeting for direction on when the Fed might start cutting rates. Lower interest Read More…
Weekly Chart I have put a volume profile indicator onto last weeks trading which is shown in the weekly chart below. Price is sitting now just above the support where last weeks candle closed. The Point of control line is holding the price up for now and after the recent dip in the US equity Read More…
Introduction On July 24, the S&P 500 closed at 5,427.13; this marks almost a 5% drop from the previous high. This drop follows a series of mixed performances over the last week. The volatility is attributed to significant losses in major tech stocks and companies within the utilities sector. Notably, shares of Vistra Corp. and Read More…
Gold prices ended higher on Tuesday, rebounding ahead of more US economic data this week. At the same time, news that India, the second largest consumer of gold, cut import duties improved the demand outlook for gold, boosting prices. Gold traders eagerly await GDP and inflation data from the US, which will come later in Read More…
Introduction Gold bulls were hoping for a rally through the all-time high last week, but it looks like they will need to sit on the sidelines for a while longer before that happens. Gold futures have performed well so far in 2024. Gold prices have risen approximately 15% year-to-date, reaching new highs. J.P. Morgan’s research Read More…
On Tuesday, gold prices reached a record high as investors gained confidence about a September Fed rate cut. The new all-time high came despite better-than-expected US retail sales figures, which boosted the dollar. Gold traders have focused mainly on the recent US consumer inflation report and Federal Reserve policymaker remarks. Fed officials gained confidence after Read More…
