Gold ends retreat and heads higher

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Gold ends retreat and heads higher
FxPro | 602 dni temu

Gold has made a decisive reversal to the upside this week. We are likely to see the start of a new bullish momentum with the potential to renew all-time highs above $2100.

Gold rallied by $200 in October and peaked at $2010, driven by three main factors. Early in the month, gold was an attractive buy on oversold conditions and a touch of the critical 200-week moving average provided a technical reason for a rebound.

But fundamental news continued to drive the buying. The first was the US labour market data, strong employment growth with a moderate slowdown in wage growth. Then, over the weekend, the conflict between Israel and Hamas added fuel to the fire.

By the end of October, gold was overheated and went into a correction, which deepened in November despite the return of risk appetite in US markets after the Fed meeting. As a result, the value of the troy ounce retreated to the 200-day moving average and the 61.8% Fibonacci level of the initial spike.

Gold's rally from these levels since the start of the week should be seen as a confident return of buyers from technically significant levels and the end of the corrective pullback. According to the Fibonacci pattern, gold's next upside target is $2130, or 161.8% of last month's upside amplitude.

However, this pattern will only be fully realised on a confident break of the previous local highs at $2010. A strong break above will confirm that gold is ready to settle above the crucial milestone this time. Over the past three years, gold has rallied strongly on several occasions, but these have always been upside impulses, and we soon see a reversal to the downside. The coming days will tell us if this is the case this time.

By the FxPro Analyst team

 

Regulacja: FCA (UK), SCB (The Bahamas)
read more
Dollar fights an uphill battle amidst mounting tariff pressure

Dollar fights an uphill battle amidst mounting tariff pressure

More Trump letters to be sent, with copper, chips and pharmas next on the tariff list; Dollar struggles to hold recent gains, except versus the yen; US equities on the back foot, underperforming their European counterparts; RBNZ stands pat; Antipodeans post small gains against the greenback;
XM Group | 20g 8 minut temu
ATFX Market Outlook 9th July 2025

ATFX Market Outlook 9th July 2025

On Tuesday, U.S. President Donald Trump escalated the global trade war by announcing a 50% tariff on imported copper and reiterated that long-threatened tariffs on semiconductors and pharmaceuticals are also imminent. U.S. equities ended mixed as investors awaited further clarity on trade policy. The Dow Jones Industrial Average fell 0.37%, the S&P 500 dipped 0.07%, while the Nasdaq edged up 0.03%
ATFX | 20g 18 minut temu
Gold Drops Below $3,300 as Fed Rate Forecasts Shift

Gold Drops Below $3,300 as Fed Rate Forecasts Shift

Gold prices fell below 3,300 USD per troy ounce on Wednesday, extending losses after a 1% decline the previous day. The downward pressure stemmed from the Federal Reserve’s cautious stance, which partially offset concerns over escalating trade tensions.
RoboForex | 20g 38 minut temu
Oil and Copper Surge as Geopolitical and Trade Risks Escalate | 9th July, 2025

Oil and Copper Surge as Geopolitical and Trade Risks Escalate | 9th July, 2025

On July 9, oil jumps above $67.00 on renewed Red Sea attacks, while copper surges past $5.50 after Trump vows 50% tariffs if re-elected. DXY edges up past 97.50 ahead of FOMC Minutes. China’s CPI surprises slightly at 0.1% YoY, offering mixed signals. AUD/USD trades flat, and markets brace for further volatility driven by Fed outlook and trade policy threats.
Moneta Markets | 23g 56 minut temu