Category Archives: Gold

Gold Elliott Wave View: Ending Impulse

Daud Bhatti

Short term Elliott Wave view in Gold (XAUUSD) suggests that cycle from 4/10 low (1246.92) is unfolding as an impulse Elliott wave structure where Minutte wave ((i)) ended at 1257.2, Minutte wave (ii) ended at 1250.8, Minute wave (iii) ended at 1279.75, Minute wave (iv) ended at 1271.69 and Minute wave (v) of (a) is in progress towards 1291.99 – 1296.84 area before cycle from 4/10 ends and the yellow metal see a correction in Minutte wave (b). We don’t like selling the proposed pullback and expect buyers to appear again once Minutte wave (b) is over in 3, 7, or 11 swings provided that pivot at 4/10 low (1246.92) remains intact. more…

Gold Slumps As Dollar Extends Trump, Fed Rally

Fawad Razaqzada

Precious metals have been big victims of the Trump- and now Fed-inspired dollar rally, especially gold. Silver has only just made a lower low relative to last month’s $16.15/20 print, whereas gold is fast approaching its 2015 lows. Thus precious metal bulls may be better off with silver once a bottom is formed, although this could take a while. Conversely, the bears may be better off with gold. Unlike gold, silver has dual usages as both a precious metal and an industrial material, so it tends to do better than the yellow metal when base metals are rising. For now though, both metals are falling and risk sentiment appears be quite positive despite the rising yields and dollar. So far, no one is paying much attention to gold as a hedge against inflation. But this could be something that could help limit the losses for the metal in the coming months. more…

Elliott Wave Analysis On NZDUSD And GOLD

Gregor Horvat

NZDUSD has completed five waves lower from the red wave C) label around the 0.7402 mark and is currently in a bullish retracement process namely close to completing red wave A. Later, we expect three sub-waves to unfold within wave B) and a final push higher within final wave C) of this three waves. The whole correction will then find a probable region of resistance and a turning point lower around the 0.7176 area, from where bears may take over. more…

Gold On Shaky Footing As Dollar Surges To Highest Since 2003

Fawad Razaqzada

Sentiment towards gold remains and grows negative by each passing day. The perceived safe-haven metal’s recent big plunge has been in part due to a sharp improvement in risk appetite, as highlighted for example by the rally in US equity prices. In addition, benchmark global bond yields have been rising, further damaging the appeal of the noninterest-bearing precious metal. But it is the dollar which is exerting the most pressure on the buck-denominated gold, as after all the metal in euro terms is still positive on the week (see the inset). more…

Elliott Wave Analysis On GOLD And German DAX

Gregor Horvat

On the 1H chart of GOLD we are observing a five wave impulse from July lows taking place, with price now trading in a possible correction in blue wave iv. That said we know that after every five wave movement a minimum three wave contra-trend action follows, meaning a little more weakness could come in play. Ideally GOLD will find support around the 38.20 and 50.0 Fibonacci ratio and continue higher. Invalidation level is at 1324- as long as it holds we are looking bullish.  more…

GOLD Reaching For 1330/1340

Gregor Horvat

Gold bounced sharply this month from 1200 area where we see a completed corrective wave II, which can be labeled as a flat or even as a W-X-Y, but in both cases it was a complex correction within uptrend that is now ready to continue. We see current leg up impulsive on lower time frames so it appears that metal is underway to new highs of the year up to 1330-1340 minimum upward projections, but it may go much higher if we consider the wave structure on a weekly time frame. more…

Gold Set For Solid Weekly Gain As EU Stocks Tank

Fawad Razaqzada

Gold is on track to chalk up solid gains for a second week running. Although the dollar has bounced back in the last couple of days of this week, it had fallen sharply the week prior as contrary to the FOMC’s last meeting minutes, the Fed made it clear that a rate hike on Wednesday of next week was highly unlikely as it expressed concerns about the May US jobs report and the potential implications of Britain leaving the EU (Brexit). The probability of a July rate rise has also fallen quite sharply. more…