In today’s daily market roundup, we have Alan Green, CEO, Brand Communications, and Zak Mir, Technical Analyst, ZaksTradersCafe, discuss the outlook for Gold, the broker forecasts and look at the UK market stocks - ASC, MPI, Just Eat, BAT and ITV.
Key Points
Huge shortage of Gold, Price rise ahead?
Lot of consolidation seen in Gold prices, it is time that the yellow metal makes its run to the top
Michael Page International #MPI - Bouncing off the 50 DMA could be a good opportunity to buy in
ASOS #ASC - Most shorted stock but metrics remain solid, recovery ahead likely
Just Eat – scope for growth in the business, like Uber of food
BAT – Has seen a massive upside move, 44GBP a possible technical target
ITV – 280p target
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Editors’ Picks
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GBP/USD fluctuates above 1.2500 following Wednesday's rebound
GBP/USD stays in a consolidation phase slightly above 1.2500 on Thursday after closing in the green on Wednesday. A mixed market mood caps the GBP/USD upside after Unit Labor Costs and weekly Jobless Claims data from the US.
Gold retreats to $2,300 despite falling US yields
Gold stays under bearish pressure and trades deep in negative territory at around $2,300 on Thursday. The benchmark 10-year US Treasury bond edges lower following the Fed's policy decisions but XAU/USD struggles to find a foothold.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.