Technical Analysis

S&P 500 Futures (ES) reversal or buying opportunity?

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…

Fundamental Analysis

Gold Rebounds as Markets Await US Economic Indicators

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…

Technical Analysis

Gold Futures (GC) bulls forced to sit on the sidelines, for now

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…

Fundamental Analysis

Investor Optimism on Fed Rate Cut Sends Gold to New Heights

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…

Fundamental Analysis

Gold Price Crawls Higher Despite Powell’s Cautious Tone

Gold prices edged higher on Tuesday despite a surge in the dollar and Treasury yields after Fed Chair Powell’s hawkish speech. Meanwhile, investors were preparing for the US inflation report coming on Thursday for clues on Fed rate cuts. Gold (Source: Bloomberg) Last week, gold reached the highest level since May as the US nonfarm Read More…