Gold prices rose by 1% on Thursday as US weekly jobless claims surged, strengthening the expectation that the Federal Reserve will pause its interest rate hiking cycle. The surge in new claims for unemployment benefits last week suggests a slowdown in the labor market, indicating potential recession risks. Edward Moya, a senior market analyst at Read More…
Recap In the middle of last month, we looked at a potential short setup as GC was showing signs of being overbought. It was also trading at the top of an upward-sloping channel which signaled to us that the top may be in for the time being. (Read more) Technical analysis There are a few Read More…
On Thursday, gold surged by nearly 1% to reach a one-week peak due to a decline in the dollar’s value amid reduced rate hike expectations. The rise in gold also occurred after the US House of Representatives approved a bill to lift the federal debt limit. Despite opposition from hardline members of both political parties, Read More…
Optimism surrounding the US debt ceiling talks and strong economic data exerted downward pressure on gold, pushing it to a two-month low on Thursday. Safe-haven demand for bullion diminished as US President Joe Biden and top congressional Republican Kevin McCarthy neared a potential agreement to cut spending and raise the debt ceiling. The progress in Read More…
Technical analysis YM has rolled over since the most recent local top made at $34,373 from the beginning of May. We have seen a dip of 5% which is not significant, but the price action tells us the bearish momentum may still have further to go. The 200-day moving average is being tested at the Read More…
Meet Karan, a talented futures trader at OneUp Trader from trader mindset. Based in California, in the United States, Karan trades the $250,000 Evaluation. He has withdrawn $17,500 so far with his aggressive scalping style.Karan primarily trades one instrument, NQ. He has become an expert in trading this popular futures contract and has an average Read More…
