Latest News and Articles
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Gold Market Report – April 30, 2024
Overnight Activity: Gold sold off overnight, declining in a range of $2336 – $2308. It broke through support at $2320-26 (4/26, 4/29 lows, options, up trendline from 2/29 $2027 low), triggering further selling until it found support between $2305-12 (4/24 ,4/25 lows). The yellow metal traded against a firmer US dollar, as the DX rose…
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Gold Market Report – April 29, 2024
Overnight Activity: Gold stayed choppy last night, trading either side of unch ($2338) in a range of $2320 – $2344. It sold off to its $2320 low during early Asian time, fading strength in the US dollar (DX from 105.92- 106.08). The dollar was lifted by an initial spike down in the yen (160.20) to…
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Gold Market Report – April 25, 2024
Overnight Activity: Gold remained nervous and volatile last night, but moved higher while trading in a range of $2305 – $2331. The yellow metal moved down to its $2305 low during Asian time, against an uptick in the US dollar (DX from 105.77 – 105.84). The DX was buoyed by: Gold rebounded during European hours,…
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Gold Market Report – April 24, 2024
Overnight Activity: Gold retained a nervous and choppy tone last night but traded directionally lower in a range of $2312 – $2331. It rose to its $2331 high during Asian time, but was unable to take out yesterday’s $2334 high. The yellow metal faded a slightly softer US dollar (DX from 105.70 – 105.64), which…
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Gold Market Report – April 23, 2024
Overnight Activity: Gold continued to soften last night with a combination of reduced geopolitical risk and a continued correction of a wildly overbought condition weighing on the yellow metal. It declined in a range of $2334 – $2292, with sell stops hit under the support levels of $2320-29 (4/10, 4/11, 4/15, and 4/22 lows, options), $2300-03…
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Gold Market Report – April 22, 2024
Overnight Activity: An easing of geopolitical tensions over the weekend reversed gains in haven assets last night. Teheran played down the reported Israeli attacks in Isfahan, while Israel never confirmed the attacks. The US House also finally passed the long debated $95B aid package for Ukraine, Israel, and Taiwan, without Speaker Johnson being ousted from…
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Gold Market Report – April 19, 2024
Overnight Activity:Escalation turns into de-escalation Reports of explosions in Iran – and in particular close to one of its nuclear facilities in Isfahan – and that Israel was in the process of a retaliatory attack against Iran last night roiled markets. Later in the evening, markets reversed on news that the strikes were very limited,…