Week Ahead Commodity Report: Gold Price Forecast [Video]
Gold surged close to a seven-year peak on Monday, as investors flocked to the safe-haven metal on escalating US - Iran tensions, while palladium hit a record high. Read more...
Gold: the bull run is extremely strong [Video]
The drive higher on gold over the festive period was given rocket boosters on Friday’s geopolitical news. The market has paid scant regard for the 2019 high of $1557, gapping through the resistance to a new high dating back to 2013. The market has been on a big bull run ever since the breakout above $1480 and has shown little sign of stopping. However, the one caveat is that the market is increasingly stretched. Gold is trading entirely outside the 2.0 SD Bollinger Bands today (the upper band is at $1556 currently). Read more...
Gold eases from multi-year tops, still well bid around $1575 region
Gold maintained its strong bid tone through the early European session, albeit trimmed a part of its early gains to the highest level since April 2013.
The safe-haven precious metal added to the last week's positive momentum and continued gaining positive traction for the fifth consecutive session on Monday. Heightened geopolitical tensions in the Middle East turned out to be one of the key factors benefitting traditional safe-haven assets and driving the commodity higher on the first day of a new trading week.
The global flight to safety was further reinforced by some follow-through weakness in the US Treasury bond yields, which further played its part in driving flows towards the non-yielding yellow metal. Meanwhile, a subdued US dollar price action did little to influence demand for the dollar-denominated commodity or hinder the ongoing bullish trajectory. Read more...
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