Silver Price Analysis: Silver Probably Rising in C Leg of Measured Move
Silver (XAG/USD) has decisively broken out of the descending channel it was in during the second half of May and June.
The People's Bank of China has suspended gold purchases for two consecutive months, and the spot gold price still reached a high of $2390 per ounce. With the failure of the "barometer", how will the gold price go?
On July 7th, the updated official reserve assets by the State Administration of Foreign Exchange showed that China's official gold reserves in June 2024 remained unchanged at 72.8 million ounces, indicating that the People's Bank of China had paused gold purchases for two consecutive months. Overall, there has not been a significant decline in the investment force in the gold market recently. There are two main risks for gold: one is the Federal Reserve policy risk and the other is the failure of central bank gold purchases to meet expectations.
Express News | China Securities Co., Ltd.: The expected number of interest rate cuts in the United States within the year has been revised to 2 times, which is conducive to pushing up the prices of metals.
Huaxi Securities: Gold is currently in a long upward cycle and if the price falls in the future, it is expected to drive central banks around the world to purchase gold again.
According to a strategy research report from Huaxi Securities, in the long term, gold is in a large upward cycle. Firstly, in recent years, the scale of US debt has been expanding at an accelerated pace, and the pressure of interest payment continues to rise. After the conflict between Russia and Ukraine, the United States imposed financial sanctions on Russia, which has impacted the credibility of the US dollar. Due to concerns about the risk of US dollar credit and US dollar assets, central banks worldwide continue to increase their gold reserves.
The central bank continues to suspend shareholding of gold!
On July 7th, the official reserve assets updated by the State Administration of Foreign Exchange showed that in June 2024, China's official gold reserve was 72.8 million ounces, unchanged from the previous month, and has suspended the shareholding of gold reserves for two consecutive months.
Weekly Outlook: Powell is about to brave Capitol Hill! Will gold hit new highs and be unstoppable?
Powell is expected to "release doves" this week! Will CPI data bring good news to the market? Gold is expected to hit a new historical high again, and the US dollar may face a major risk...
Weekly Review: European stock market fluctuated during the 'Election Week', while Wall Street ignored the election and hit record highs. Cryptos plummeted, but gold benefited greatly.
In a week of sustained market volatility globally, Wall Street has ignored the uncertainty brought by political elections and has been the sole performer in the stock market, continuously setting historical new highs. Economic data, instead of meeting expectations, has strengthened investors' optimistic expectations for a rate cut by the Federal Reserve, which has fueled the rise of the stock market.
Express News | Analyst: Non-farm data below expectations could push gold price to break through the 2400 level.
Will Non-farm Payrolls Become the Judge of Life and Death? The Gold and Silver Trends Have Reached a Critical Juncture!
Analysts expect that the upward trend is more likely for gold and silver, but they would prefer to see a significant pullback after the non-farm payroll report. Why?
Facing Non-Farm Payrolls: the first heavy data of trade in the second half of the year!
Why does the Non-Farm Payroll data tonight once again affect the nerves of global financial markets and traders?
Gold Pushes Higher as Investors Expect Fed Will Start to Ease
Gold headed for a back-to-back weekly gain on expectations that the Federal Reserve will trim interest rates before year-end, with traders looking ahead to US payrolls data for the next batch of clues on the outlook.
Continued expectations for interest rate cuts are fueling multiple bullish factors for gold prices! How to earn "steady happiness" through etf?
Under the dovish remarks of Fed Chairman Powell and a series of bullish economic data, yesterday's gold futures price rose back to $2360, while analysts pointed out that the 'Trump trade' would drive global investors to turn to gold. And in Citigroup's view, next year's gold price is expected to break through the $3000 mark.
Gold outlook for the second half of 2024! World Gold Council: closely focusing on the trends of 4 key catalysts...
According to the World Gold Council, gold will seek new power technology in the second half of 2024, with the decline of interest rates in developed markets as a key catalyst.
"Trump 2.0" fears are approaching! Will gold be a direct beneficiary?
Historical data has shown that if Trump returns to the White House, global investors may turn to gold...
From Bold to Boring
After a rollicking spring rally, gold has settled into a trading range that seems typical for a summertime slowdown. One indicator is now pointing toward a big surprise soon, however.
What happened? Everyone is rushing to withdraw gold reserves from the USA.
Even African countries no longer dare to store their gold in the USA, highlighting the importance of holding physical gold due to the trend of gold repatriation.
Gold price just fell below $2,330! The gold market is focused on two big events. FXStreet senior analyst analyzes gold technique.
On Tuesday, the spot gold experienced a short-term decline during the Asian market session, and the gold price just fell below the key level of $2330/ounce. On this trading day, gold traders will focus on the speeches of Federal Reserve Chairman Powell and the US JOLTS job vacancy data.
Silver steals the show in the second quarter! Is it possible to reach a new peak of $50 this year?
Silver's ROI in the second quarter of this year exceeded that of the US stock market, gold, and copper. Analysts expect it to further appreciate.
Prepare for the big gold market! The heavyweight data highly focused by Powell and the Federal Reserve is coming. How to trade gold price?
During the intraday session on Tuesday, July 2nd, spot gold maintained a moderate upward trend. Currently, the gold price is around $2334 per ounce.
Expectations of interest rate cuts are putting pressure on gold and copper again, waiting for this week's PMI data to provide guidance.
Last week's released overseas macro data remained relatively weak, while Fed officials' statements were relatively hawkish, especially Federal Reserve official Bowman pointed out the possibility of interest rate hikes, which put pressure on the market, causing the US dollar to further strengthen against other currencies. This week, there will be intensive release of Euro-American PMI data, which will be a good guide for the market.