Wednesday, 27 May 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Gold Stays Below 2-Week-Old Resistance-Line Despite Trade/Political Pessimism
Monday, 23 September 2019 08:58 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices fail to portray the recent risk-aversion wave as they remain below near-term resistance-line while taking rounds to $1,513 on early Monday.

Renewed geopolitical tension between Saudi Arabia and Yemen has been a major driving force for markets™ immediate risk sentiment off-late. Following a threat from Houthi rebels, Saudi Arabia has also flashed signals of war if an attack takes place whereas the US deployed additional forces in the Middle East as a measure being œdefensive in nature™.

On the other hand, Chinese delegates™ early leave from the US, without visiting the US farms, got a negative signal relating to the recently conducted trade negotiations in Washington. However, the US and Chinese media have been trying to cover the issue in order to (likely) avoid the bad start of the talks in October.

Also favoring the risk-off could be the continuation of an easy monetary policy wave from the global central bankers amid a lack of positive headline statistics and on-going trade uncertainty.

While risk-off sentiment dragged the equities and the US Treasury yields down, the Japanese Yen (JPY) and Gold have to bear the burden of the US Dollar™s (USD) sturdiness. It should also be noted that Autumnal Equinox Day holiday in Japan and a lack of fresh signal during the early Asian session also restricts the safe-haven™s upside.

Looking forward, traders could keep an eye over the preliminary activity numbers from the Eurozone and the US while also following the trade/political headlines for further direction.

Source : FX Street

RELATED NEWS
Gold Flat As Hong Kong Concerns Offset Reopening Optimism...
Wednesday, 27 May 2020 09:45 WIB

Gold traded flat on Wednesday as concerns about the U.S. response to China™s proposed security law for Hong Kong countered optimism about a re-opening of the global economy. Spot gold was unchanged...

Gold falls 1% as risk appetite firms on recovery optimism...
Wednesday, 27 May 2020 01:32 WIB

Gold fell over 1% on Tuesday as major economies further eased coronavirus-linked restrictions, fuelling hopes for economic recovery and bolstering risk appetite. Spot gold slipped 1.1% to $1,710.95 p...

Gold Edges Lower, Losing Shine as Stocks Rally on Easing Lockdowns, Vaccine Hopes...
Tuesday, 26 May 2020 19:20 WIB

Gold futures lost some ground Tuesday as global equities rallied in response to easing business lockdowns as the pandemic recedes and encouraging reports of progress toward a COVID-19 vaccine, dulling...

Gold eases as equities rally; Hong Kong woes limit losses...
Tuesday, 26 May 2020 16:31 WIB

Gold edged lower on Tuesday as hopes of economic recovery lifted share markets with many countries easing coronavirus-driven lockdowns, although Sino-U.S. tensions over Hong Kong limited bullion's los...

Gold Ticks Up On China-U.S. Tensions Over Hong Kong...
Tuesday, 26 May 2020 14:01 WIB

Gold ticked higher on Tuesday as brewing Sino-U.S. tensions over Hong Kong lifted demand for the safe-haven metal, though easing coronavirus-induced lockdown restrictions supported equities and capped...

LATEST NEWS
Gold Flat As Hong Kong Concerns Offset Reopening Optimism

Gold traded flat on Wednesday as concerns about the U.S. response to China™s proposed security law for Hong Kong countered optimism about a re-opening of the global economy. Spot gold was unchanged at $1,711.93 per ounce by 1243 GMT after a 1%...

Hong Kong Shares Start Slightly Higher

Hong Kong stocks opened on a positive note Wednesday, extending gains into a third day as traders continue to put the easing of global lockdowns above China-US tensions. The Hang Seng Index added 0.56 percent, or 130.48 points, to...

Dollar Edges Higher As U.S.-China Worries Resurface

The dollar edged higher on Wednesday as worries about the U.S. response to China™s proposed security law for Hong Kong supported safe-haven demand for the greenback. The euro held gains against the dollar and the pound but faces a severe test...

POPULAR NEWS
Gold Falls as Potential Japan Stimulus Boosts Risk Appetite
Monday, 25 May 2020 15:13 WIB

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors™ risk appetite, though fresh...

Gold Edges Lower, Losing Shine as Stocks Rally on Easing Lockdowns, Vaccine Hopes
Tuesday, 26 May 2020 19:20 WIB

Gold futures lost some ground Tuesday as global equities rallied in response to easing business lockdowns as the pandemic recedes and encouraging...

Gold Down Over Escalating U.S.-China Tensions
Monday, 25 May 2020 13:36 WIB

Gold was down in Asia on Monday morning, with escalating U.S.-China tensions continuing to impact demand for even the safe-haven asset. Gold...

Gold falls 1% as risk appetite firms on recovery optimism
Wednesday, 27 May 2020 01:32 WIB

Gold fell over 1% on Tuesday as major economies further eased coronavirus-linked restrictions, fuelling hopes for economic recovery and bolstering...