Weekly evaluation of Kitco site about GOLD Sunday, June 27

Weekly evaluation of Kitco site about GOLD Sunday, June 27
Is GOLD ready to climb?

According to the weekly assessment of the Kitco News site, small investors and professional market participants expect an increase in the price of an ounce of global gold in next week's trading. In last week's trading, the gold market was able to provide support below $ 1,800 and eventually ended with a one percent increase. Two weeks ago, the gold market fell $ 100 in response to a US Federal Reserve rate hike. Gold market analysts are still focusing on dollar fluctuations, treasury yields and macroeconomic data.
This week, 13 Wall Street activists took part in the weekly evaluation of the Kitco site. 53.8% predict that the global gold ounce trend will be upward. Another 23.1% predict that the market trend will be downward. The remaining 23.1% expect a trend-neutral or neutral market. 830 Main Street investors also took part in the online survey. 54.1% are in favor of an uptrend, 24.2% are in favor of a downtrend and 21.7% are in favor of a trend-free or neutral market.

Market experts comment on ounces of global gold

Marc Chandler is the CEO of Bannockburn Global Forex

"Momentum indicators are bullish and the price floor seems to be around $ 1773. If the global ounce price hovers above $ 1,800, the price floor will also be confirmed. In this case, the first target of the gold market will be the correction of 38.2% Fibonacci at $ 1820 and the 200-day moving average at $ 1833. "The yield on 10-year US Treasury bonds remains around 1.50 percent, and I think the price of an ounce of global gold will rise next week."

Colin Cieszynski is a market strategist at SIA Wealth Management

The activist believes that from a technical point of view, the selling pressures in the gold market are over. "I expect buyers to enter the market next week. "It seems that the uptrend has begun."

Adrian Day, President of Adrian D. Capital Management Company

"US Federal Reserve officials are not as prone to contractionary monetary policy as the Bank of America's interest rate announcement," he said. Many have also come to the conclusion that rapid inflation will take longer than initially anticipated and may not be temporary. That is why the gold market can offset the sharp downturn after the US Federal Reserve's interest rate meeting. "

Adam Button is a senior foreign exchange market strategist

"The global ounce price of gold has not been able to make a significant jump since the US Federal Reserve's interest rate meeting, while the US dollar has weakened and stock indices have risen. This performance of the gold market is worrying. I'd rather wait for the next few days. "If the global ounce price does not cross $ 1,800, it will be a sell signal for the gold market."

Jim Wyckoff, Senior Technical Analyst at Kitco

Vaikov believes that the price of an ounce of world gold has been declining over the past two weeks. In his view, it is difficult to get out of this downward structure, and sales pressures are likely to intensify in the coming weeks.

 

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Last week's analysis of Kitco site about gold

 

Analysis of global GOLD trends Friday, June 25

Analysis of global GOLD trends Friday, June 25
Will the $ 1764 support hold its position?

The weekly ounce chart of the world gold is down and is in line with the support line at $ 1764. The XAUUSD daily chart also hit support at $ 1764 and rose. Although the $ 1764 support situation seems fragile, in order to break this support, the daily chart of the global gold ounce must be closed below this key support. Otherwise, if buyers defend this support, the price of an ounce of global gold will rise to the resistance of $ 1855.

In the four-hour ounce chart of global gold, the market is close to the support of $ 1764. If this support works, the first market resistance will be the key level of $ 1808. Otherwise, with the failure of the weekly support of $ 1764, one should expect gold to fall to the support of $ 1724.

Global :Gold: Analysis Today Thursday, June 24

Global Gold Analysis Today Thursday, June 24

On Wednesday, gold had another bullish day, largely driven by sentiment over the US dollar and the Fed's monetary policy stance. The gold price broke the trend and reached its highest daily rate after hitting the PMI index of market services and the new rate of home sales in the US eased inflation concerns and severely affected the US dollar index. Reached $ 1795.

 The selling pressure created during the last week and the subsequent downward consolidation trend has led to the formation of a flag pattern. The closing of the daily price below the support level of the uptrend at $ 1768 confirms the downward failure of the continuing pattern.

After that, a defense line at the lowest level of the last two months, the level of $ 1761, will be waiting for this precious metal. If this level is crossed, the $ 1750 psychological barrier will be activated.

As the downtrend continues, the lowest price level recorded in mid-April, around $ 1,725, could temporarily stop the cows. The relative resistance index (RSI) is falling towards the saturation territory at 32.71 and indicates that there is still a possibility of price reduction.

As the downward trend intensifies, the price of gold will be on the verge of confirming the formation of a "cross of death", while the daily moving average of 200 (DMA) from above will cut the daily moving average of 50.

On the other hand, if buyers manage to stabilize above the $ 1794 level, the 100-DMA cross and support of the downtrend line will lead to the failure of this pattern.

In this uptrend, the highest price recorded on June 18 at the level of $ 1797 before the re-touch of the level of $ 1800 is on the agenda of cows.

Weekly {evaluation of Kitco| site about Gold| according to market experts Sunday, June 13

Weekly evaluation of Kitco site about gold according to market experts Sunday, June 13

According to the weekly assessment of Kitco News, the global gold ounce market trend has been neutralized again. From a professional point of view, the global ounce fundamentally supports the uptrend, but nevertheless the technical status of the global gold ounce tends to decline. In fact, from a fundamental point of view, inflationary pressures are intensifying day by day, which is in favor of gold. But technically, the global ounce price could not stay above $ 1,900. Even the US real rate of return has fallen and the dollar has weakened.

This week, 15 Wall Street activists took part in the weekly evaluation of the Kitco site. The differences among professional activists are so great that the supporters of the ascending, descending and neutral trend are the same! Meanwhile, 1,056 Main Street investors took part in the online survey. 66% are in favor of an uptrend, 17% are in favor of a downtrend and another 17% are in favor of a trend-free or neutral market.

Last week, both groups were optimistic about the ounce of global gold. But that optimism has waned as global gold prices fall below $ 1,900. According to analysts, entering the global gold ounce trade is due to the rapid growth of risky inflation. US inflation has reached 5 percent, the highest level of inflation since 2008. The rapid rise in inflation combined with low interest rates means that the US real rate of return will fall further. This is good news for the gold market. According to analysts, as long as the price of an ounce of global gold is above the support of $ 1855, the long-term uptrend will continue.

Analysis of professional market participants:

Ole Hansen is a commodity market strategist at Saxo Bank

Hansen believes that the technical trend of ounces of world gold is declining, but there is no reason to sell ounces of world gold! In his view, the power of buyers is weakening and a new stimulus is needed to revive the uptrend. "I do not think the Federal Reserve's view on inflation is wrong," he said. But the market has come to believe that the rapid growth of inflation is temporary. "I think there are reasons to sell gold in the short term, but it is fundamentally risky."

Darin Newsom Independent Market Analyst

Newsam believes that the medium-term trend of global gold ounces is declining. He expects a deep downturn in the market. The global gold ounce is targeting support at $ 1871.80. I think gold will cross this support and fall to the next support at $ 1827. In my opinion, buyers will enter the market from this range. "I do not expect heavy sales in the market, but the fall of the market to lower support will bring new buyers into the market."

Phillip Streible Senior Market Strategy at Blue Line Futures

The activist expects the global ounce price to fall in the medium term. However, the downward movement of gold has not yet been enough to justify entering into a buy trade. He went on to say that before buying an ounce of global gold, it is better for the market to fall to the $ 1850 range.

Marc Chandler is the CEO of Bannockburn Global Forex

According to Chandler, the ounce trend of global gold is declining, as $ 1900 support has been lost and turned into resistance. He also predicts that US Treasury bond yields will rise by the time the US Federal Reserve sets interest rates. The US Federal Reserve will set a meeting next week. "There is a possibility that the world ounce price of gold will return to the $ 1855 range."

World |Gold| Review Thursday, June 10

World Gold Review Thursday, June 10

The price of gold continues its previous downward trend. Recent decisions by the European Central Bank (ECB) monetary policy and consumer price index (CPI) data on Thursday reflect policymakers' thinking about the next stimulus package. Meanwhile, the four-hour gold price chart paints a bearish picture.

Sellers can target immediate support in the horizontal trend line connected to the previous price floor at the level of $ 1881. Crossing this level could cause the price to drop to the lowest level recorded on June 4, ie $ 1856. Previously, an area of ​​demand around $ 1865 could allow some cows to operate.

Any attempt to improve prices could face tough resistance around the $ 1891-1895 area; At this level, simple moving averages of 21, 50 and 100 days collide. In addition, the resistance of the triangle at the level of $ 1900 can challenge this uptrend. Last month's high of $ 1913 is a point to be optimistic about.

Gold futures fell 0.35% to $ 18,888.95 at 11:23 pm Eastern time. The dollar, which usually moves in the opposite direction to gold, is rising as the 10-year US Treasury returns fell below 1.50% for the first time since May 7.

World Gold Review Tuesday, June 8

World Gold Review Tuesday, June 8

The upward trend in gold prices is reversing above $ 1,900 as cows in the US dollar market return to their bids amid deteriorating market conditions. After falling sharply on Monday following Janet Yellen's recent remarks, the US dollar is now trying to recover some of that loss.

Gold ended the North American trading session with an increase of about 0.4% and its price rose from $ 1881 to about $ 1900.19. At the time of writing, the XAU / USD has risen about $ 0.13 percent, from $ 1,899 to about $ 1902.

The dollar index (DXY) fell 0.21 percent to 89.946. The US Treasury 10-year benchmark was last seen at 1.569%, down from 1.628% on Friday.

From a technical point of view, the price has reached an area of ​​horizontal resistance above the 10-day moving average. Proximity to the uptrend line in the daily timeframe is also a resistance that could limit the strong uptrend that continued on Monday.

The 4 and 20 hour moving averages are also bullish at this stage, while the 10-day moving average crosses the 20-EMA chart.

In contrast, in the hourly time frame, it is possible to correct the price to the previous resistance and cross the correction level of 38.2% Fibonacci and the moving average of 21 hours before the next move.

The main factor behind these moves could be increased optimism about coronavirus vaccination in the West and readiness to reduce the limitations caused by the epidemic. Also, according to data from the Federal Reserve Bank of St. Louis, the lowest level of inflation expectations in the last six weeks in the United States, in addition to lower unemployment, were other factors contributing to this trend.

Kitco's opinion about gold from the perspective of investors Sunday, June 6

Kitco's opinion about gold from the perspective of investors Sunday, June 6

According to Kitco News' weekly assessment, the market atmosphere is still in favor of buyers. Some analysts believe that the growth of US economic indicators will intensify inflationary pressures. However, the growth of economic indicators is not strong enough to force the US Federal Reserve to withdraw from expansionary monetary policy. Micro-investors and market traders believe that the gold market trend will tend to rise in the coming week. However, the number of fans of the downtrend is also increasing. A number of analysts have warned that the gold market is above $ 1,900 saturation.

This week, 16 Wall Street activists took part in the weekly evaluation of the Kitco site. 69% predict that the global gold ounce trend will be upward. Another 13% predict that the market trend will be downward. Meanwhile, about 19% expect a trend-free or neutral market. Also this week, 1,023 Main Street investors took part in an online poll. 54% were in favor of the uptrend, 29% were in favor of the downtrend and 17% were in favor of the neutral trend.

US employment data was released on Friday, which was generally weaker than market forecasts. The growth of the US NFP index was only 559 thousand units. The market expected growth of 645,000 units. However, wage growth last month was half a percent.

Analysis of professional gold market activists

Marc Chandler is the CEO of Bannockburn Global Forex

According to the activist, the price of an ounce of global gold grew well in response to weak US employment data. "However, in ounces of gold ounces, I tend to be a seller rather than a buyer. "MACD and stochastic indicators also indicate a bearish correction."

Adrina Day, President of Adrian Investment Management Company

"US employment data show weak employment growth. Wage growth has been good. But rising wages are raising concerns about escalating inflationary pressures. Wage growth is usually highly sticky, and NFP growth indicates that wages need to go even higher for more people to return to the job market. "This is bad news for the US dollar and good news for the ounce of global gold."

John Feneck, founder of Feneck Investment Consulting

"The break-in of the key $ 1,900 level in May reflects the long-term uptrend in the market."

Kevin Grady, President of Phoenix Futures and Options

Gardi believes that despite the bearish return of the gold market on Thursday, the market is still stable and has a strong uptrend. In his view, gold has been able to defend key protections. However, he added that this week's gold trend will be neutral. Gerdi expects the US Federal Reserve to back out of expansionary monetary policy in response to rising inflationary pressures. According to him, gold will face a serious challenge in maintaining its position above $ 1,900. "The US Federal Reserve has made a mistake in assessing the outlook for inflation, and the rapid growth of inflation will not be temporary. "Gold can rise to higher levels, but somewhere in the rally, US inflationary pressures will cause the Federal Reserve to pull back from expansionary monetary policy and halt the global gold ounce rally."

Darin Newsom Independent Market Analyst

The activist believes that because the price of an ounce of world gold could not close above the closing price of two weeks ago (in 1905), the medium-term trend of the market has changed.

Kitco's weekly [estimate] of the {gold market} Sunday, May 16

Kitco's weekly estimate of the gold market Sunday, May 16

According to Kitco News's weekly assessment, rising inflationary pressures and worries about the uncertain future of the global economy have once again supported the ounce of global gold. Gold market fluctuations increased last week. Market participants believe that the price of an ounce of global gold could exceed $ 1850. Such a move could be significant in terms of technical analysis. Especially since the $ 1850 resistance range indicates the key correction level and the 200-day moving average.
This week, 13 Wall Street activists took part in the weekly evaluation of the Kitco site. 77% predict that the ounce trend of global gold in the next week's trading will be upward. 8% predict that it will be a downward trend. Another 15% expect a trend-free or neutral market. Meanwhile, 464 Main Street investors took part in the online poll. 71% are in favor of an uptrend, 17% are in favor of a downtrend and 11% are in favor of a neutral or no trend market. This week, due to technical problems, the number of participants in the online poll was lower than in previous periods.

Expert opinion of market professionals

Robin Bhar Independent Market Analyst

"The big question on everyone's mind is whether the Fed will get out of expansionary monetary policy sooner than previously predicted due to the rapid rise in inflation," he said. Although inflation has picked up, I think the Federal Reserve can handle the situation. The longer monetary expansionary policies take, the better for gold. "As inflation curves eased, inflation could be justified, but the growth of US economic data has been unbalanced (which is why the Federal Reserve may not be paying attention to rapid inflation at this time)."

Sean Lusk is the CEO of Walsh Trading

Lusk is optimistic about the global ounce uptrend, but not because of rapid inflation, but because of escalating tensions in the Middle East. "I think the global ounce price of gold could be a destination for risk aversion," he said. "It is likely that the price of XAUUSD could cross the key level of $ 1850." He added that the ultimate target of gold is around $ 1900 and after entering the neutral phase, the upward and long-term trend of the market will be revived.

Adrian Day, President of Adrian Investment Management Company

Adrian Dee believes that as inflationary pressures intensify, investors will flock to gold to cover the risk of inflation. "The gold market has changed and investors who left the market in the second half of 2020 are entering the market again. "The Fed may reiterate that rapid inflation is temporary, but in the gold market, rapid inflation is not temporary."

Darin Newsom Independent Market Analyst

Newsam is optimistic about the medium-term ounce of global gold. According to him, the dollar will weaken further. However, he believes that the resistance of $ 1843 is a serious obstacle for the market.

Adam Button is a professional market activist

The professional believes that after a bullish break of $ 1,800, the market will enter a neutral phase for a while. "The price of an ounce of world gold has jumped well from the March price floor and now is the time for the market to rest."

Marc Chandler is the CEO of Bannockburn Global Forex

The professional activist said that although the price of an ounce of global gold has experienced good growth, caution should still be exercised. In his view, the recent rise in gold prices is a bit rapid and the market needs to improve. "It seems that the price of an ounce of global gold wants to hit the 1845-1845 resistance zone, which is the moving average of 200 days. Technical indicators have entered the saturation level. "I think a better market is better for selling than buying, but this week I will focus on treasury rate fluctuations to find new clues."

Global Gold Analysis Friday, May 14

Global Gold Analysis Friday, May 14

After forming a price floor in the range of $ 1,809 yesterday, the price of an ounce of global gold reached the resistance level of $ 1,820.

April US retail sales are expected to increase by about 1%. This rate was reported in March at 9.7%. If this happens, the price of gold could experience an upward trend.

The price of gold is moving towards the 200-day moving average indicator in the range of $ 1,847. To achieve this, a high price resistance level of $ 1,840 is required.
On the other hand, if the price penetrates below yesterday's price floor of $ 1,809, one can expect a fall to the intersection of the 21-day and 100-day moving average indicators at $ 1,795. This level is a strong support and is expected to prevent further fall in gold prices.

Kitco site weekly evaluation of the gold market Monday, May 10

Kitco site weekly evaluation of the gold market Monday, May 10

According to Kitco News's weekly assessment, optimism about the future of the global ounce price has strengthened. Professionals and small market investors expect prices to rise further.
Last Thursday, the price of an ounce of global gold jumped sharply. For the first time since February, the world ounce price of gold has exceeded $ 1,800. Many analysts believe that the failure of this resistance is a good sign of reviving the uptrend of the market and moving to $ 1850. On Friday, the price of an ounce of global gold continued to rise. The April US Employment Data Index (NFP) was disappointing. In April, NFP growth was only 266,000 units, while the market expected growth of one million units. Some analysts believe the market may be struggling to break the $ 1830 and $ 1850 resistance levels.

This week, 16 Wall Street activists took part in the weekly evaluation of the Kitco site. 88% predict that this week's trend is an upward ounce of global gold. Another 12 percent expect a downward correction in the market. According to this week's assessment, no one expects a neutral or trend-free market. Meanwhile, 1,485 Main Street investors took part in the online survey. 76% were in favor of an uptrend, 14% were in favor of a downtrend and 11% were in favor of a trend-free or neutral market.

Opinions of market professionals

Bill Baruch, President of Blue Line Futures

The professional activist believes that although the ounce trend of global gold is bullish, in order for the strength of the bullish trend to strengthen and new buyers to enter the market, XAUUSD must cross the resistance of $ 1850.

Ole Hansen leads Saxo Bank strategy team

Hansen said that due to weak economic data on US employment, the possibility of the Federal Reserve gradually withdrawing from expansionary monetary policy by the end of 2021 is ruled out. According to this professional activist, the price of gold can rise further at the same time as the yield on bonds falls and drive gold sellers out of the market. According to Hansen, significant market growth cannot be expected until the $ 1850 resistance is broken. The $ 1,850 resistance is a good match for the 200-day moving average. "Despite the strong rise in the price of an ounce of global gold, the market is still declining. "However, the failure of the key resistance can reverse the trend."

Adrian Day, President of Adrian Day Investment Company

According to this professional activist, the market will not climb in a straight line. The gold market is backed by the US government's monetary and expansion support programs.

Darin Newsom Independent Market Analyst

According to Newsom, if the global ounce price rises above $ 1842.90, the next target of the resistance market will be $ 1894.

Mark Chandler is the CEO of Bannockburn Global Forex

Chandler is the only one expecting the market to return below the $ 1,850 resistance level. According to this professional activist, due to the rapid economic growth of the United States, the bullish gold rally will stop near $ 1855-1850.