Friday, June 9, 2023
  • Login
  • Register
btclive365.com
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
btclive365.com
No Result
View All Result
Home Forex Trading

Gold Price – XAU/USD Eyes Support as CPI Nears and US Bond Yields Rebound

btclive365 by btclive365
March 14, 2023
in Forex Trading
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Gold Price (XAU/USD), Chart, and Analysis

  • US CPI tops the economic docket today.
  • 60/40 call on whether there is a US rate hike later this month.

Recommended by Nick Cawley

How to Trade Gold

The global interest rate background has changed dramatically over the last few days with interest rate hikes being priced out by the hour. The collapse of SVB Bank and Signature Bank in the US has prompted markets to reduce rate hike expectations sharply, with one 25bp rate hike in the US seen as a coin toss at the March meeting, before rate cuts are seen from the end of Q2 onwards.

image1.png

US Dollar Grips on as SVB Fallout Brings US CPI Into View Ahead of the Fed

US Treasury yields have fallen sharply in the last few days as rate expectations change. The US 2-year touched a high of 5.08% last Thursday before slumping to a multi-month low of 3.83% earlier in today’s session. The yield has reversed higher in Europe but still remains vulnerable to further losses.

US 2-Year Yield

image2.png

Gold has benefitted not just from the global re-pricing of rate cuts but also from its haven status. The precious metal is part of a group of goto safe-haven assets that include US Treasuries, the Japanese Yen and the Swiss Franc. The precious metal broke above $1,900/oz. on Monday as traders sought safety from possible bank contagion. Gold remains above $1,900/oz. but is likely to test this new level of support, especially if the US inflation number comes in hot. Below here $1,878/oz. comes into view and this level may hold any short-term sell off unless the interest rate background turns hawkish again.

Gold Price Daily Chart – March 14, 2023

image3.png

All Charts via TradingView




of clients are net long.




of clients are net short.

Change in Longs Shorts OI
Daily -1% 18% 5%
Weekly -15% 36% -1%

Retail Traders Boost Net-Shorts

Retail trader data show 62.57% of traders are net-long with the ratio of traders long to short at 1.67 to 1.The number of traders net-long is 3.35% lower than yesterday and 16.96% lower from last week, while the number of traders net-short is 26.32% higher than yesterday and 33.46% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current Gold price trend may soon reverse higher despite the fact traders remain net-long.

What is your view on Gold – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.





Source link

Previous Post

Shiba Inu And Paramount Collab In The Making?

Next Post

Decentralized Exchanges Record Massive Sales Volume Surge

btclive365

btclive365

Next Post

Decentralized Exchanges Record Massive Sales Volume Surge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

How to sell Bitcoin – Bitcoin Magazine

November 9, 2022

Add a Tangible Asset to Your Portfolio: Buy Gold

January 7, 2023

Building Bitcoin Standard In Portugal – Bitcoin Magazine

November 9, 2022

G7 Unites to Embrace Global Crypto Regulations and IMF Guidelines

May 16, 2023

Bitcoin price hits 2-week lows as FTX ‘bank run’ drains BTC reserves

1

Building Homesteader Lifestyle With Bitcoin – Bitcoin Magazine

1

Arbitrum dealings activity rockets 550% since August: Delphi Digital

0

Bitcoin․com Doubles Down on Self-Custody With Launch of Verse DEX – Press release Bitcoin News

0

XinFin Network is Predicted to Drop to $0.032178 By Jun 14, 2023

June 9, 2023

Gold Rallies as US Dollar Sinks on Jobless Claims Surge, XAU/USD Eyes Bullish Engulfing

June 9, 2023

Crypto custodian BitGo signals intent to acquire Prime Trust

June 8, 2023

Ethereum Co-Founder and CryptoRelief Team Up for Pandemic Solutions

June 8, 2023

Recent News

XinFin Network is Predicted to Drop to $0.032178 By Jun 14, 2023

June 9, 2023

Gold Rallies as US Dollar Sinks on Jobless Claims Surge, XAU/USD Eyes Bullish Engulfing

June 9, 2023

Crypto custodian BitGo signals intent to acquire Prime Trust

June 8, 2023

Ethereum Co-Founder and CryptoRelief Team Up for Pandemic Solutions

June 8, 2023

We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings

Follow Us

Browse by Category

  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency News Today
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

Recent News

XinFin Network is Predicted to Drop to $0.032178 By Jun 14, 2023

June 9, 2023

Gold Rallies as US Dollar Sinks on Jobless Claims Surge, XAU/USD Eyes Bullish Engulfing

June 9, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 btclive365 All Right Rivered .

No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

© 2022 btclive365 All Right Rivered .

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In