Tag Archives: Gold

Gold: More Upside

Daud Bhatti

Short term Gold (XAUUSD) Elliott Wave view suggests that rally from 7/10 low is unfolding as a a double three Elliott wave structure. Up from 7/10 low (1204.69), Minor wave W ended at 1274.11 and pullback to 1251.27 ended Minor wave X. Wave Y is currently in progress as a zigzag Elliott wave structure where Minute wave ((a)) is expected to complete with one more leg higher and can reach as high as 1294.3 – 1304.6, then it should pullback in Minute wave ((b)) before the rally resumes, We don’t like selling Gold and expect buyers to appear again after Minute wave ((b)) pullback is complete in 3, 7, or 11 swing, provided pivot at 1251.27 low remains intact. more…

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…

Silver Shines As Yields, Dollar Dip

Fawad Razaqzada

Precious metals have found strong support over the past couple of days, with gold surging back to $1340 and silver to $20.00 per troy ounce. The US dollar has weakened while benchmark government bond yields have fallen across the board once again. This is mainly due to a slightly more dovish Federal Reserve and as the Bank of Japan announced new set of policy measures aimed at extending its quantitative easing programme in order to overcook inflation. The lower government bond yields have boosted the appetite for racier assets like equities, while at the same time they have made precious metals – which, unlike bonds and stocks, pay no interest or dividend – appear more appealing to investors on a relative basis. 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…