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Not with standing weekly loss, downside in gold likely to remain limited
Going by the action in bonds, the markets are still not giving much credence to the idea of a rate hike. The next week is quite crucial for the financial markets as many major data and reports will be released.
Domestic copper at lifetime highs; factors affecting the price surge
Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.
Gold rallies on rate cut expectations amid US economy slowdown
Spot gold rose on Friday despite US inflation data, anticipating rate cuts amid a weakening US economy. US CPI and PPI Final demand were below forecasts. US Fed Chair Powell remains optimistic about inflation. US Philadelphia Fed business outlook was below expectations. Fed officials hold varying views on rate adjustments.
Longer for higher rates may dim gold’s shine next week
Next week, US CPI data will be released, which will be crucial for gold. In case of hotter-than-expected inflation data, gold will fall. The bullion rally has coincided with a rally in risk assets and bonds.
Crude oil prices near 2-month lows. What’s next?
The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar correction was witnessed in the Asian Brent and the domestic MCX futures as well.
Gold climbs Rs 500; silver jumps Rs 400
Gold prices climbed Rs 500 to Rs 72,350 per 10 grams in the national capital on Thursday amid a rally in precious metal rates in the global market, according to HDFC Securities. In the previous session, it had closed at Rs 71,850 per 10 grams.
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Why invest in silver through ETFs?
Invest in silver ETFs for industrial diversification and value retention during economic cycles. Silver's fundamental demand, especially during turmoil, makes it a resilient investment like gold, offering a buffer to equity-debt portfolios.
Precious metals: Must-have assets in your investment portfolio
Rising interest in gold and silver as safe haven investments amid uncertainties like interest rate cuts and geopolitical tensions. Investors utilize gold futures and ETFs, with a cautious approach towards silver trading due to its volatility.
Does the gold rally have more steam left?
Gold rally defies norms amid US debt rise and stable Debt to GDP. Global geopolitics and de-dollarisation fuel surge. Central banks favor gold, affecting Fed. US interest expense rises, impacting treasury issuances and long gold positions.
Learn with ETMarkets: Know the psychology of bullion trading via emotion management
Trading MCX gold and silver contracts involves managing emotions like fear, greed, and loss aversion. Implementing effective strategies, such as risk management and emotional resilience, can lead to greater success in trading. A look at the common emotions that affect traders and strategies to manage emotions effectively in MCX Gold and Silver trading.
No justifications for gold's recent rally, investors riding on Fed rate cut hope
Gold closed at a record high of $2330 amidst escalating Middle East tensions, positive US economic data, and hints of potential rate cuts by the Fed Chair. Geopolitical tensions and economic indicators will continue to drive market sentiment. . Hotter than expected CPI inflation and contained geopolitical tensions will weigh on the metal. Resistance is at $2360/$2400 and support at $2300/$2250/$2200. A short term correction won't be surprising.
Learn with ETMarkets: How to master candlestick patterns to decipher price action in gold and silver?
By recognising specific candlestick patterns, traders can glean valuable insights into market sentiment and identify potential trading opportunities.
Commodity Talk: Crude oil at multi-month highs. Jigar Pandit suggests dip buying
Jigar Pandit forecasts $92-$95 Brent crude price and Rs 7,300 MCX price for 2024, urging investors to capitalize on corrections amid geopolitical uncertainties impacting crude oil supply and demand dynamics. He also says: "As the US FOMC has indicated a possible three rate cut in 2024, we expect the dollar to weaken, while the demand remains healthy for crude oil from emerging markets and Asia."
Gold ends with weekly declines; buy the dips going ahead
Gold prices came under intense immediate downside pressure on better-than-expected US non-farm payroll data. However, weaker-than-estimated ISM services data turned the tide to catapult gold sharply higher as the US yields pummelled.
Gold price outlook in 2024: Will it sustain safe-haven status?
Indian gold prices surged to a fresh all-time high last year, with the most active MCX near-month futures booming to Rs 64,460 per ten grams in December. Firm overseas prices, weak Indian rupee, and expectations of an increase in jewellery demand amid peak wedding season propelled price rises.
Commodity Talk: Expect MCX gold to give 10–11% returns in 2024: Naveen Mathur
"Historically gold has always delivered a positive monthly average return during times of hold in interest rate. Hence spot gold is expected to trade in the range of $1,900–$2,250 per ounce range in next 1 year period. Hence staggered buying in yellow metal is recommended on dips of 6–7% from current levels. There will always be good investment opportunities in gold."
