Gary Portugal’s Post

Bullish Gold: Top Trade Q1 2024 There are several factors influencing gold’s price that appear to be pulling in the same direction ahead of Q1 of 2024. These help to form the trading thesis and are outlined in the rest of this article along with technical considerations.

📢 Precious Metals Traders - Check out Today's Market Watch 📈💰 Geopolitical tensions in the Middle East escalate as Israel responds to attacks in Lebanon, potentially boosting gold prices as a safe-haven asset. What's more: ✅ Gold's price movements indicate a crucial support level at $1,965. Will we see further depreciation or a rebound above $2,000? ✅ WTI experiences a retreat after hitting three-week highs. What's next for oil prices amidst fluctuating demand and geopolitical unrest? Read more about the seize trading opportunities in the precious metals market! https://lnkd.in/gTtNVzWc Start trading with us at bit.ly/openaccount_1 #IsraelLebanonConflict #GoldPriceVolatility #USRetailSales #FOMCSpeeches #FederalReservePolicy #NonfarmPayrolls #TechnicalAnalysis #GoldSupportLevels #WTIOilPrices #XTIUSD #WTITechnicalAnalysis

📈 Market Update: Amid a backdrop of mixed economic data, Gold sees a rise to $2,352.55 and the EUR/USD edges up to $1.0848. 🏦 With varied PMI outcomes across major economies and significant movements in forex and commodities, our markets remain a vibrant arena for strategic trading. 📊 *This is not investment advice #Market #Gold #ForexMarket #Fx #EconomicData #FlowBroker

📢 Traders - Check out Today’s Market Watch 📈💰 📊 Market Update: The Fed held rates steady, but hints of a potential rate cut in September weakened the US dollar slightly, boosting major pairs like EUR/USD. 💰 Gold (XAU/USD): Gold prices climbed to $2,450 per ounce amid economic concerns and geopolitical tensions. Dovish Fed signals could push prices to new highs. Watch key support levels for potential buying opportunities. 🛢️ WTI Crude Oil (XTI/USD): WTI crude edged higher, buoyed by Middle Eastern tensions despite global demand worries. Key support and resistance levels are in play as traders navigate this volatile market. Read more about the seize trading opportunities in the precious metals blog article! https://lnkd.in/e2AEMWQU Start trading with us at bit.ly/openaccount_1 #TechnicalAnalysis #goldprices #WTIOIL #XTIUSD #goldprices #tradingstrategy #MarketWatch #OilPrices #XAUUSD #tradingsignals #oil #USDollar #CrudeOil #OilMarkets #interestrates #metal #tradingview #goldcoins #FederalReserve #fed

Guardian Gold's 129th Issue of the Weekly Market Report Live! The gold market is enjoying a strong rally but is nervous. Gold ran up to the 2470.00 area for the fourth time and did not make new highs. Profit taking and stops getting triggered on Friday were to blame along with the possibility of people selling everything including precious metals to cover margins on equity positions due to the large selloff in the stock market. There are numerous political tensions around the world and especially the Israel /Iran situation that is developing this weekend that keep gold strong. There is also a weakening U.S. dollar which lends a hand to gold moving to the upside. Will gold make another attempt this week to make new highs? We imagine the Israel and Iran confrontation will answer this question. We would look for volatility this week with the range being 2350.00 to 2500.00. Longer term we are still bullish and looking for highs of 2600.00 to 2700.00. And more of what you missed in the news! - Japanese Stocks Plunge into Bear Market: Nikkei Drops Over 12% in a Day - Quad Nations Warn Against South China Sea Tensions: Call for Maritime Security - Maduro Declared Election Winner Amid Protests and Legitimacy Concerns - Major Prisoner Swap: U.S. Detainees Return After Deal with Russia Read Guardian Gold's 129th Weekly Market Report Below! https://lnkd.in/g4srg5Ej #MarketInsights #MarketReport #GoldandSilver

Gold prices are on the rise! 📈 Generally, there is an inverse relationship between gold and stocks, meaning that when stock prices go up, the price of gold tends to decrease, and vice versa. This is because gold is often seen as a safe asset that is used to hedge the market position. But it's interesting to see that the stock market is following the same sentiments, where the Nifty and Banknifty are on a bull run and nearing their all-time highs. There can be numerous reasons for the rise in gold prices. Here's a breakdown of my analysis: 👉 There is an ongoing economic slowdown in the Chinese market due to real estate and other reasons. As a result, both Chinese citizens and the government are investing in gold due to safety concerns. The Chinese Central Bank has continuously increased its gold reserves over the past 15 months, which has given strong support to the demand for gold. 👉 There are expectations in the market that the US Fed will lower interest rates this year. Normally, when interest rates fall, large investors move towards gold, which gives the asset a natural push. This could be a major reason for the recent rally in gold prices. 👉 Globally, due to the Russia-Ukraine War, Israel-Palestine, and the Red Sea Crisis, the world market has shaken up a little. In such challenging times, gold is looked up to as a reliable and safe asset. As a result, the demand for gold increases, which in turn elevates its price. #gold #investment #bullmarket #stockmarket #analysis

I came across this article so will be keeping a close eye on the market trends! 📈🌐 Exciting developments in the world of commodities as gold prices stage a recovery amid a pause in the dollar rally. 🪙💰💼📊 #gold #commodities #marketanalysis #financialnews

Hi, good afternoon, I just wanted to share smth, Intraday strategies involving both currencies and commodities can take advantage of correlations between these assets. Since commodities can affect the currencies of countries that are major exporters or importers of those commodities, traders can use this relationship to inform their trades. Here are a few examples of how intraday traders might use these correlations: **1. USD and Gold (XAU/USD):** - **Negative Correlation**: Typically, there is a negative correlation between the USD and gold. If significant economic news weakens the USD, traders might expect gold to increase in value. - **Strategy**: If the USD drops sharply after a news release (e.g., poor retail sales or higher unemployment claims), a trader might go long on gold, anticipating an increase in price due to the weakening USD. **2. AUD and Gold (XAU/USD):** - **Positive Correlation**: Australia is a large exporter of gold, so the AUD often has a positive correlation with gold prices. - **Strategy**: If gold prices are increasing during the day, a trader might go long on AUD/USD, expecting the Australian dollar to strengthen alongside gold prices. **3. CAD and Oil (USD/CAD):** - **Negative Correlation**: Canada is a significant oil exporter, so there is often a negative correlation between the price of oil and USD/CAD. - **Strategy**: If the price of oil rises, a trader might short USD/CAD, expecting the Canadian dollar to strengthen against the USD. **4. NZD and Dairy Prices:** - **Positive Correlation**: New Zealand is a significant dairy exporter, and the NZD can be sensitive to changes in dairy prices. - **Strategy**: If dairy prices are on the rise during a trading session, a trader might go long on NZD/USD, anticipating that the New Zealand dollar will strengthen. **5. RUB and Oil (USD/RUB):** - **Negative Correlation**: Russia is a major oil producer, so the Russian Ruble often moves in response to changes in oil prices. - **Strategy**: If there is a sudden spike in oil prices due to geopolitical tensions or supply concerns, a trader might expect the RUB to strengthen and consider going long on RUB-related currency pairs or short on USD/RUB. For all these strategies, it's essential to consider: - **Timing**: The time of day can affect liquidity and volatility. For example, the release of economic data can create short-term volatility spikes. - **News Events**: Always be aware of scheduled news events that could affect your trades, including central bank announcements, employment reports, and other economic indicators. - **Technical Analysis**: Use technical indicators to confirm your trades. For example, if gold prices break out of a resistance level, it might confirm a long position on AUD/USD. - **Risk Management**: Use stop losses and take profits to manage risk, especially since commodities can be volatile Cheers

📈 Gold Prices Hold Firm Amidst Global Developments As the early Asian trading session unfolds, gold prices maintain their steady ascent, hovering near $2,168. This upward trend comes amidst several key factors shaping the market landscape. Market Sentiment and Fed Outlook: The recent stance by the Federal Open Market Committee (FOMC), maintaining its projection for three quarter-point rate cuts this year, has strengthened investor confidence in gold. The expectation of impending rate cuts has notably contributed to the precious metal's appeal. Geopolitical Tensions: Escalating tensions in Ukraine serve as another catalyst, fueling demand for safe-haven assets like gold. Recent attacks on critical infrastructure highlight the geopolitical uncertainties driving investors towards gold as a reliable hedge. Upcoming Data Releases: Traders eagerly await the release of US Gross Domestic Product (GDP) numbers for the fourth quarter (Q4). This data could offer fresh insights into the economic landscape, potentially impacting the trajectory of gold prices. Amidst these developments, investors remain vigilant, seeking opportunities amidst market fluctuations. With eyes set on upcoming economic data releases and ongoing geopolitical developments, the journey ahead for gold prices promises to be both intriguing and consequential. 📈 #GoldPrices #MarketAnalysis #GeopoliticalTensions

Gold staged a strong comeback in July, following June’s decline, hitting an all-time high of US$2,480/oz mid-month, driven primarily by weaker bond yields and US dollar. But what happened in July almost seems irrelevant given the market moves in recent days. Early August saw the third highest spike in implied equity volatility (VIX) on record as a confluence of factors including a Bank of Japan hike, de-levering and weak US employment data drove indices sharply lower. Some of the ground has since been made up, but a return to pre-selloff exposure might take time. Gold fell a maximum of 4.6% from Friday’s high to Monday’s brief low and today is comfortably back above $2,420/oz. During such liquidity events we tend to see gold sell off initially as investors seek to cover margin calls by selling things they can rather than perhaps what they want to. And given gold’s ADVs of more than $150bn a day, it can be called upon to meet short term cashflow requirements in times of market stress. See the diversification section of our 2024 case for gold for more on this. Looking ahead, August has typically been kind to gold, aided by weakness in bond yields. But this time around seasonal tailwinds are up against some powerful cross currents including Jackson Hole, US politics and the recent surge in market volatility. Gold Market Commentary July - link below.