Gold to stay above $1300

19 February, 2019

The gold price has recovered strongly over the past 3 trading sessions after coming perilously close to touching the $1300 mark and for the time being it seems as this level has becomea solid support base.

The reason for the rally has been put down to the positive developments regarding trade negotiations between China and the US which has left little appetite for the US dollar which in turn has benefited gold.

US President Donald Trump has said he is willing to extend the deadline of Mrch 1st to let negotiations to continue which many in the market take as a sign that the US President is really pushing to make sure a deal goes through.

"Alleviation of risks around the trade talks has certainly benefited the markets," said ANZ analyst Daniel Hynes.

There are also fears that the Fed may have raised rates to high and too soon which may see the US economy face substantial problems as the year unfolds and this adds to the belief that the Fed is done this time around with their rate hiking cycle and may have to drop rates in order to starve off a recession.

Once this thought process gathers more momentum gold should receive a significant boost.

“The dominate thinking of speculators is that [the] U.S. Federal Reserve is on the very verge of easing monetary policy,” said Ned Schmidt, editor of the Value View Gold Report. “General this view is built on belief that [the] U.S. economy is about to fall into a recession this year.” He added.


Source link  
US dollar down on dovish Fed

As predicted yesterday, the Fed kept interest rates on hold but the following monetary statement was much more dovish than analysts had predicted...

Gold needs some big news

The gold price is under further pressure in today's trading session as investors ponder the chances of another rate hike from the US Federal Reserve after the release...

Good news for the precious metal

Gold just got another reason to cheer after the latst minutes meeting from the US Federal reserve where the tone left many analysts predicting that...


Oil price hinges on trade talks

Oil is down once again in today's trading session as investors and the market alike remain divided on the future direction of the price with a lot...

Oil needs Opec cuts

The latest tumble in the oil price has now reached gigantic levels, almost equaling the declines reached during the global financial crisis and according to some analysts, we may...

Gold price has rallied sharply

A declining stock market is always good for gold as investors look for somewhere safe to ride out the uncertainty. Precious metals are seeing buying...


Pound surges, rate hike may follow

The British pound is powering ahead today against its US counterpart as more positive data raises speculation that a rate hike from the Bank...

Gold may rally towards years end

After a horror 6 months the gold price has found much needed support over the last 4 weeks and is now sitting above the $1,200 mark and depending...

New tariffs lift US dollar

As widely expected, US President Donald Trump has slapped another $200 billion worth of tariffs on Chinese goods which has caused a lift in the US dollar today against the major...


In the past 24 hours Bitcoin has gained 0.44% and reached $3965.91337779. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.4259% and is now at $1.1296. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -3.57% and is now at $135.056334457. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets91%
2FXTMFXTM89%
3HYCMHYCM88%
4FxProFxPro86%
5FIBO GroupFIBO Group85%
6OctaFXOctaFX84%
7HotForexHotForex81%
8FXCMFXCM78%
9AlpariAlpari76%
10XMXM74%
  


Share: