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09.01.2025
Gold prices rose by 1.0% this week to $2,664
per troy ounce, showing resilience despite rising U.S. Treasury yields, which
typically weigh on the metal. The 10-year Treasury yield climbed to its highest
level since April 2024, but gold continues to gain momentum, supported by a
combination of fundamental and technical factors.
One key driver is the resumption of gold
purchases by the People’s Bank of China (PBOC) after a six-month pause. The
PBOC added 0.45% to its reserves, bringing them to 73.29 million troy ounces.
Historically, such activity has had a bullish impact on gold prices.
26.12.2024
Brent crude prices declined by 0.45% this week
to $73.55 per barrel, hovering near the key support zone of $69.00-71.00. The
narrowing trading range signals strong momentum and heightened downside risks.
Large investors are aligning with a bearish outlook, as the United States Oil
Fund (USO) reported net outflows of $132.6 million last week and another $29.0
million this week, reflecting diminished confidence in sustained price
recovery.
The technical outlook remains negative, with
persistent downside pressure. A breach of the $69.00-71.
24.12.2024
The U.S. Dollar Index (DXY) has gained 0.49%
to reach 108.15, while the EURUSD has declined by 0.35% to 1.03960. This
follows last week’s hawkish Federal Reserve (Fed) meeting, where policymakers
maintained a firm stance despite a widely expected 0.25% interest rate cut. The
Fed revised its economic outlook, reducing its forecast for interest rate cuts
in 2025 to two from the previously expected four in September.
The EURUSD dropped 1.3% to 1.03430 after the
Fed meeting, driven solely by the central bank's hawkish rhetoric.
19.12.2024
Gold prices are down 1.4% this week, trading
at $2,615 per troy ounce, recovering from a steep 2.4% decline on Wednesday
that brought prices to $2,582, their lowest level since November 18. The market
is at a critical juncture, with the potential for further declines to
$2,300-$2,500 or a renewed rally towards $3,100-$3,200. This delicate balance
follows the Federal Reserve's hawkish stance, which has put downward pressure
on the yellow metal.
The Fed implemented a quarter-point interest
rate cut to 4.50% but maintained a strongly hawkish outlook.
17.12.2024
The U.S. Dollar index is trading neutrally
around 107.00 points this week, with EURUSD down by 0.68% to 1.04800. The major
currency pair failed to hold above the resistance at 1.05400-1.05600, despite
several attempts at the start of the previous week. However, the Dollar resumed
its climb following the release of higher-than-expected U.S. inflation data for
November.
Consumer prices rose to 2.7% YoY in November,
up from 2.6%, while core CPI, excluding food and energy, remained steady at
3.3% YoY. The EURUSD closed last Wednesday within the resistance zone at
1.05400-1.
12.12.2024
Brent crude prices rose by 3.0% to $73.48 per
barrel this week, recovering from a support zone at $69.00-71.00 per barrel.
While this bounce offers a slight safety margin, it does not eliminate the risk
of a sharp decline toward $60.00 per barrel. The technical outlook remains
bearish, as the recovery attempts are becoming increasingly short-lived,
signaling intensifying pressure on oil prices. A decisive move above $76.00 per
barrel is necessary to improve the chances of an upside scenario and mitigate the
risk of a drop to $59.00-61.00 per barrel.
10.12.2024
The U.S. Dollar Index (DXY) is up 0.19% this
week, reaching 106.27 points, while the EURUSD pair is down 0.20% to 1.05370.
The pair has repeatedly failed to break above the 1.05400-1.05600 resistance
zone. However, its continued higher lows suggest an "ascending
triangle" pattern, often indicative of a potential upside breakout. While
this is worth noting, the situation remains inconclusive for now.
The WisdomTree Bloomberg US Dollar Bullish
Fund (USDU) showed neutral capital flows last week after $7.
05.12.2024
Gold prices have remained neutral at $2,644
per troy ounce this week, with the market appearing to pause ahead of an
anticipated sharp move. The potential for a correction toward $2,300–$2,500 or
a surge to $3,100–$3,200 per ounce is backed by compelling arguments on both
sides.
Last week, geopolitical developments
influenced gold prices significantly. The nomination of billionaire hedge fund
manager Scott Bessent as Secretary of the Treasury by U.S. President-elect
Donald Trump signaled potential tariff easing on China, calming investor fears.
03.12.2024
The U.S. Dollar Index (DXY) is gaining 0.45%
to 106.22 points, while the EURUSD is down 0.51% to 1.05270. This follows last
week’s 1.6% decline in the Dollar, which saw the EURUSD close at 1.05810.
Despite recent volatility, the pair has managed to hold above the critical
resistance at 1.05300-1.05500, keeping the bullish scenario toward
1.09500-1.10500 intact. A price gap at 1.05800 remains unclosed from Monday,
and its resolution—particularly after Friday’s Nonfarm Payrolls—could signal a
decisive move for the pair.
Geopolitical factors are adding pressure on
the Euro, as U.S.
28.11.2024
Brent crude oil is down 3.8% this week,
trading at $72.35 per barrel and hovering near key support at $69.00–71.00 per
barrel. This marks the fifth test of this level since mid-September and the
third since late October, with the frequency of these attempts increasing. Each
bounce from support has been weaker, signaling waning buyer interest and
growing vulnerability to a breakdown. Should prices breach this level, a deeper
decline toward $59.00–61.00 per barrel seems likely.
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