After surging to its highest level since January earlier this week, gold suffered a slight pullback at resistance around $1,920. Alongside technical barriers, a slight rise in Treasury yields may h.
Stocks Push to All-Time Highs Following NFP Miss, Gold Spikes
2021-05-07 14:25:00
Peter Hanks,
Strategist
Dow Jones, S&P 500, Nasdaq 100 Price Outlook:
Initial price movements suggest rate hikes or Fed tapering is a growing concern for equity traders
Stocks Push to All-Time Highs Following NFP Miss, Gold Spikes
The Dow Jones and S&P 500 jumped to record levels Friday as traders reassessed the monetary policy landscape following a rather significant miss on non-farm payroll data. While lower than expected employment data is typically bearish for equities and risk assets, price action suggests the market has moved into “bad news is good news” territory. In such an environment, underwhelming data can lead to equity price gains as traders come to expect looser monetary policy or further fiscal assistance.
Technology stocks and the Nasdaq 100 nosedived Tuesday as the Dow Jones and industrial-facing stocks inched higher. The disjointed price action reawakened discussion around a popular macro trade.
Silver Price Forecast: XAG/USD Ponders Breakout Alongside Gold Gains
2021-04-21 21:30:00
Peter Hanks,
Strategist
Silver Price Outlook:
Silver surged beyond resistance at the $26.20 mark to tag its highest level in more than a month
Treasury yields remain key to silver price gains but the technical outlook reveals bullish potential
Silver Price Forecast: XAG/USD Ponders Breakout Alongside Gold Gains
Silver surged to its highest price in more than a month Wednesday on the back of a 3% daily gain. Recent price action has seen the metal climb more than 8.5% in the month of April as slipping Treasury yields open the door to gains for commodities like gold and silver. As a result, XAG/USD may look to continue higher should the fundamental forces at play remain intact.
Gold Price Forecast: Will a Double Bottom Pattern Spark Price Gains? 2021-04-08 20:30:00 Peter Hanks, Strategist
Gold Price Forecast:
A double bottom trading pattern, typically viewed as bullish, has formed and could spark gains
Gold Price Forecast: Will a Double Bottom Pattern Spark Price Gains?
Gold suffered significant declines in late February and early March as US Treasury yields grinded higher. Losses saw XAU/USD blow through various levels of technical support until the lower bound of the metal’s descending channel helped to arrest declines around the $1,675 mark. A picture-perfect bounce off the trendline and subsequent bounce off a nearby Fibonacci level has seen gold recover somewhat and recent price action has formed a double bottom technical pattern as a result.