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Share: While equities have stumbled this afternoon after weeks of gains, the rally in precious metals appears to be heating up once more, says Chris Beauchamp, Chief Market Analyst at online trading platform IG. Stocks drift lower in Europe and the US “After weeks of gains, it is not surprising to s

Share: Summary Buyers continue to favor new construction New home sales dipped 5.6% in October, providing some giveback from September's 8.6% jump. Despite October's dip, new home sales largely have remained resilient to the broader housing market slump. In contrast to the recent weakness in resales

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Share: WTI futures fall to a 4-month low before attempting a recovery. But the 200-day SMA repeatedly rejects their rebound. Momentum indicators suggest that bears are in charge. WTI oil futures (January delivery) have been on the retreat since their October peak of 89.80, breaking aggressively belo

Share: Gold price gains momentum around $2,000 on the weaker USD. All participants agreed that policy decisions would continue to be based on the totality of incoming information. Gold traders will focus on the US Jobless Claims, Durable Goods Orders, and the University of Michigan Consumer Sentimen

Share: The index remains well under pressure near the 103.00 support. Investors continue to price in Fed rate cuts in the spring of 2024. The FOMC Minutes take centre stage later in the session. The USD Index (DXY), which tracks the greenback vs. a bundle of its main competitors, keeps the downtrend