The reasoning (via Citi's latest update on the metal) is a reiteration, and still in place:
record pace of ETF investor inflows
negative real yields
"are the primary drivers for the push higher"
Citi on levels., first their 3-mth:
We lift gold short-term targets to ~$2,200/oz
Waiting on the retest of the support level to see if it turns resistance .This area also lines up with the 0.5 Fibonacci level where we would look for potential short opportunities to the 1.27 level. This is just my analysis and the market doesn't have to respect my opinion
Photo: FM, Financial Conduct Authority
As financial scam operations are ramping up all over the globe, the United Kingdom’s Financial Conduct Authority (FCA) has recently warned against another such fraudulent company trying to dupe investors.
Operating as Prime Capital Invest, the fraud broker is
European markets are unsure of their direction begins the week with a mixed session. The Dow Jones industrial average futures are trading higher while investors are keeping a close eye on the U.S.-China tension
Global Stock Market Today
The global stock market had a mixed session today. Stocks in Ch
According to the latest report carried by Bloomberg on Thursday, the clearing data prompted speculations that the People’s Bank of China (PBOC) may have resorted to government bond-buying from domestic banks last month.
“Sovereign bonds held by “other” investors -- a category that incl
The US GDP fell 32.5% in the second quarter, the highest on record but slightly less than analyst estimates. The US dollar index slid below the 93 mark as the 10-year yield dipped to 52.5%.
The US equities were mostly down, as energy stocks led losses. But tech stocks gained as Amazon, Apple and Fa
EUR/USD continued scaling higher on Monday amid a broad-based USD weakness.
The continuous rise in COVID-19 cases fueled speculations of a dovish Fed outlook.
Overbought conditions prompted some profit-taking ahead of the FOMC meeting.
The EUR/USD pair prolonged its recent strong bullish momentum a
GOLD broke sideway range and trading in uptrend line price above key level around 1753.000 price above SMA 100 MACD shows decreasing of bearish momentum RSI above 50 so its expect bullish movement to supply zone around 1796.000
As per the latest coronavirus (COVID-19) updates from Germany’s Robert Koch Institute (RKI), the number of confirmed cases rose to 192,079 with a total of 8,927 deaths.
Cases surged by the highest in four-day, 630, in Germany on Thursday versus Wednesday +587. The death count rose 13 compared to 19
European stocks are seen opening lower on Thursday as concerns about a new wave of virus infections tempered investor optimism about a quick economic recovery and prospects of fresh stimulus.
Asian stocks fell as spiking coronavirus cases in China and some U.S. states raised concerns over business r
The Hong Kong stock market on Wednesday wrote a finish to the two-day winning streak in which it had gathered more than 450 points or 2 percent. The Hang Seng Index now sits just above the 23,300-point plateau although it's expected to regain its footing on Thursday.
The global forecast for the Asia
The Hong Kong stock market has tracked higher in back-to-back trading days, advancing more than 450 points or 2 percent along the way. The Hang Seng Index now sits just above the 23,380-point plateau and it may extend its gains again on Wednesday.
The global forecast for the Asian markets is broadly
In an interview with an Italian daily, Prime Minister (PM) Giuseppe Conte said that “the European Central Bank’s (ECB) independence is at the heart of the European treaties, it is not up to any constitutional court to decide what it can or cannot do.”
Former ECB President Draghi