Gold futures are dow...from TramPham

27 May 2020, 17:48 · Views 4,664

Gold futures are down nearly 1.5% on Tuesday as major global economies further eased coronavirus-led restrictions fueling hopes of economy recovery and bolstering risk appetite. Traders also said the earlier openings could lessen the effects of the widely expected global recession.

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TramPham

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XAG/USD

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Gold prices fell in muted trade on Monday as the dollar strengthened and share markets rose, though lingering tensions between the United States and China limited losses.

TramPham

Gold markets have gone back and forth during the trading session on Wednesday, as we continue to hang around the $1750 level, an area that has caused a lot of issues in the past. Ultimately, this is a market that I think will continue to see a lot of noise due to the fact that gold is considered to be a safety currency

TramPham

Oil prices advanced on Thursday as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains. Brent crude futures for July delivery were trading up 33 cents, or 0.9%, at $36.08 per barrel at 0344 GMT, rising for a second day.

TramPham

The S&P 500 has rallied significantly during the trading session on Tuesday, breaking through the psychologically and structurally important 3000 level. Ultimately, this is a market that I think continues to see a lot of noise in this area, and it will be quite interesting to see whether or not we break back down below the 3000 level.

TramPham

Gold markets look as if they are topping out again near the $1750 level, an area that I think continues to offer a significant amount of resistance. This is based not only upon the fact that we have seen a lot of selling in this area, but the downtrend line that is now forming as the top of a symmetrical triangle.

TramPham