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Gold makes recovery attempt after aggressive sell-off Technical signals welcome a bullish pivot but there is a wall at 2,600 Gold bounced up on Monday with scope to test the 2,600 round level after its two-week freefall paused near the constraining zone of 2,545. The precious metal has retraced half of its record rally from […]

The post Gold Bulls Make a Move; Need Access Above 2,600 appeared first on Action Forex.

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11/10/2024

Sunset Market Commentary

Markets It’s more of the same today in absence of big events. Slightly below-consensus US PPI data only very briefly triggered a bid in US Treasuries which continued their bear steepening run. Daily changes on the US yield curve range between flat and +4.9 bps (30-yr). German changes add 2 to 3 bps across the […]
19/07/2024

China Set To Miss Annual Growth Target

And The Third Plenum Suggests No Major Economic Model Adjustments Summary Recent GDP and activity data from China were underwhelming, and as a result, we have revised our 2024 annual GDP growth forecast lower. With activity sluggish and price pressures still subdued we reiterate our view that the People’s Bank of China (PBoC) will ease […]
30/08/2024

XAU/USD Outlook: Gold Trading in Narrow Range

Gold keeps firm tone and holding near new all-time high on Friday, awaiting release of US PCE data (due later today) for fresh signals. The metal remains well supported by strong demand (as safe haven as well as large purchases by central banks), geopolitical tensions and strong expectations for Fed’s first rate cut in September. […]