Sign in
  • NFT
  • Crypto
  • Stocks
  • DeFI
  • KNIGHTS
  • Luxury
  • Trade
  • Horse Racing
  • Travel
  • Crypto Caps
Sign in
Welcome!Log into your account
Forgot your password?
Privacy Policy
Password recovery
Recover your password
Search
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
Live Trading News Live Trading News
Knights App
Live Trading News Live Trading News
  • NFT
  • Crypto
  • Stocks
  • DeFI
  • KNIGHTS
  • Luxury
  • Trade
  • Horse Racing
  • Travel
  • Crypto Caps
Home 2020 Gold 1 OZ (XAU=X) Capped by Increasing Demand For Riskier Assets
  • 2020
  • Commodities
  • Gold
  • Headline News
  • Investments
  • Metals
  • Shayne Heffernan
  • Opinion
  • Top Stories

Gold 1 OZ (XAU=X) Capped by Increasing Demand For Riskier Assets

By
HEFFX
-
June 1, 2020
39
0
Facebook
Twitter
Pinterest
WhatsApp

    Gold 1 OZ (XAU=X) Capped by Increasing Demand For Riskier Assets

    Gold futures finished slightly lower last week with gains probably capped by increasing demand for risky assets. serving to to underpin the precious metal was a weaker U.S. Dollar. I saw no evidence of “safe-haven” demand which is an illusion anyway. The direction of gold prices is controlled by the direction of interest rates. the rest is just fairy dust.

    Last week, August Comex gold settled at $1751.70, down $1.80 or -0.10%.

    I don’t care how optimistic you are over the near-term, but the facts are gold futures haven’t created a brand new high for the year since the week-ending April 17. additionally, it’s traded in a $1789.00 to $1668.40 range for five weeks.

    One of the explanations why gold hasn’t stirred higher over the short-term is that international interest rates have two-dimensional and also the global governments haven’t been throwing cash into their various economies for weeks. There initial pledges of business enterprise and financial input have in all probability been priced into the market. what is more, with international equity markets clawing back quite 50% of their earlier losses, some traders are commercialism out of their gold hedge positions to shop for stocks.

    The weaker U.S. dollar is providing some support. this can be as a result of gold is dollar-denominated therefore once the dollar weakens, gold becomes additional engaging to foreign consumers.

    With the economy retardation convalescent from the coronavirus pandemic, the dollar has been losing its charm as a safe-haven plus. what is more, the monetary unit is strengthening and if you’re an honest Forex monger then you must apprehend that the monetary unit represent 57% of the coefficient within the dollar Index. To some, this news could return as a surprise.

    Shayne Heffernan Trade Idea

    • “Lower for Longer” interest rates are supportive of Heffx analysts’ positive view on gold. However, there is concern over the large divergence between record strong investor demand for gold and a record weak retail bid for gold (e.g. jewelry). Combined with reduced net buying from the official sector and a potential increase in gold recycling for the rest of 2020, We believe prices may make a slow grind higher but generally hold between US$1,600-$1,700/oz, rather than quickly spike to the US$1,850-$1,950/oz area. In turn, a global growth and EM recovery in 2021 could be what supports the next leg higher towards US$2,000/oz.
    • Overall, we remain medium-term bullish. Forecasts for Q2 average gold prices are upgraded to US$1,710/oz and 2020’s average lifted from US$1,640/oz to US$1,680oz, while maintaining 2021’s average at US$1,925/oz.

    Technical Indicators

    Overall, the bias in prices is: Upwards.

    The projected upper bound is: 1,802.50.

    The projected lower bound is: 1,685.79.

    The projected closing price is: 1,744.15.

    Candlesticks

    A white body occurred (because prices closed higher than they opened).
    During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.

    Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

    Momentum Indicators

    Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

    Stochastic Oscillator

    One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.8368. This is not an overbought or oversold reading. The last signal was a sell 10 period(s) ago.

    Relative Strength Index (RSI)

    The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 58.43. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 51 period(s) ago.

    Commodity Channel Index (CCI)

    The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 69. This is not a topping or bottoming area. The last signal was a sell 7 period(s) ago.

    MACD

    The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.

    Rex Takasugi – TD Profile

    PREC.M.XAU= closed up 14.100 at 1,740.400. Volume was 8,900% above average (trending) and Bollinger Bands were 49% narrower than normal.

    Open       High       Low        Close        Volume
    1,736.090  1,744.190  1,731.390  1,740.400    29,716
    Technical Outlook
    Short Term:        Neutral
    Intermediate Term: Bearish
    Long Term:         Bullish
    Moving Averages: 10-period       50-period       200-period
    Close:           1,728.66        1,690.94        1,566.50
    Volatility:      14              22              20
    Volume:          2,972           594             149

    Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

    Summary

    PREC.M.XAU= is currently 11.1% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods.

    Our volume indicators reflect very strong flows of volume into XAU= (bullish). Our trend forecasting oscillators are currently bearish on XAU= and have had this outlook for the last 4 periods.

    We invite you to try out any MetaStock product (including Add-Ons) for 30 days. If you are not convinced that it helps you make more accurate, educated trading decisions, just return it to us within the 30 days for a refund of the purchase price. It’s that simple. This policy does not apply to subscriptions.

    • TAGS
    • #best fx account
    • #best fx company
    • #best trading platform
    • #daily stock brief Heffx
    • #GOLD 1 OZ
    • #gold forecast
    • #gold market
    • #gold news
    • #gold price
    • #gold price forecast
    • #gold technical analysis
    • #gold weekly forecast
    • #Make money trading with Heffx
    • #morning call with Heffx
    • #open an account fx
    • #shayne heffernan
    • #Shayne Heffernan well known economist Asia
    • #trade like Shayne Heffernan
    • #trading
    • #xau price
    • #XAU=X
    Facebook
    Twitter
    Pinterest
    WhatsApp
      Previous articleTime to Sell The Euro
      Next articleWall Street’s Key Stock Analysts Research Report, All Buys
      HEFFX
      http://www.heffx.com
      HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

      RELATED ARTICLESMORE FROM AUTHOR

      2022

      Maserati’s Grecale for “The Everyday Exceptional Experience”

      kiba
      Crypto

      Top 5 Performers In The BNB Chain – May Edition

      Crypto

      ShapeShift DAO Now Integrates Unstoppable Domains With NFT Domains

      knightsdaox

      knightsdaox
      A milestone for @badgirlsdoitwell_creative as one A milestone for @badgirlsdoitwell_creative as one of the NFT Images was used by Lingerie Super Brand @AgentProvocateur on their IG check out the NFT https://opensea.io/assets/matic/0x2953399124f0cbb46d2cbacd8a89cf0599974963/101458004406135600874609164373135723553804373497245323439856933381756336209921
      Happy Songkran สุขสันต์วันสงกรานต์ from #Thailand
      Banneker NFT Watches and Jewelry for the Metaverse Banneker NFT Watches and Jewelry for the Metaverse
@bannekerwatches OTC:BANI is designing and releasing a series of NFT Watches and Jewelry that will not only be standalone NFTs they will also be capable of use in the Metaverse.
In the spirit of the Company and its Management Banneker will be using this platform to promote and educate the world on America’s forgotten Heroes, Men and Women like Banneker himself, Robert Smalls, Fannie Lou Hamer and the list goes on and on.
Utility
•	Authentic Banneker Watch Giveaways
•	Exclusive Banneker Merch Shop And Merch Giveaways
•	Virtual And In Real Life Events
•	Access To Special Airdrops and Whitelists
•	Use in Metaverse
•	Promoting Awareness of American Heroes in cutting edge ways
•	...AND MORE!
Banneker, Inc., is a designer, manufacturer and distributor of high-quality watches, clocks, jewelry, and ancillary products. Banneker timepieces are inspired by the amazing achievements of Benjamin Banneker who, in 1753, completed construction of the first striking clock in America from parts he hand carved of wood. All Banneker Watches and clocks contain some type of exotic wood as a way to pay tribute to this incredible accomplishment. All Banneker products are shipped with additional information about the life and legacy of Benjamin Banneker. Banneker, Inc. made the first ever NBA championship watch for the Miami Heat 2006 NBA championship to go with the championship ring. Banneker also created the first-ever urban line of class jewelry for high school and college students which included a class watch (which was invented and created by Banneker), class rings, class earrings and class medallions with real Burl wood on each item.
Available Soon Exclusively on Knights and Exportable to any Chain you prefer
      Miami Heat Legend and Hall of Fame Star Tim Hardaw Miami Heat Legend and Hall of Fame Star Tim Hardaway NFTs for the Metaverse. Available Exclusively on Knights and Exportable to any Chain you prefer
Tim Hardaway NFTs will not only be standalone NFTs they will also be capable of use in the Metaverse.
The Series will include
His Miami Heat retired Number 10 designs
Images from his Career
Miami Heat 2006 NBA championship Watch NFTs
Banneker OTC:BANI
      Celebrated Artist @susanleyland is in the process Celebrated Artist @susanleyland is in the process of bringing to life some of history's greatest race horses that will also become NFTs available Exclusively through Knights. The NFTs of each work will range from "experiences" of the horse as well as foundation horses in a Metaverse Stable.
      We are honored that the THE TREBEK SILVA NFT ART G We are honored that the THE TREBEK SILVA NFT ART GALLERY has chosen to work with Knights Exclusively
Elaine Trebek is a successful contemporary artist and marketing entrepreneur having created, executed and sold two multi-million dollar companies, opened the first Urban Art Gallery in West Hollywood CA and nurtured young artists.
Elaine, (formerly married to Alex Trebek). boasts a “sold-out” exhibition of her own works titled: BARE SOCIETY.
Check out her NFT: “Armed & Dangerous”.
      We are honored that the THE TREBEK SILVA NFT ART G We are honored that the THE TREBEK SILVA NFT ART GALLERY has chosen to work with Knights Exclusively. 
Natalie Silva is a successful established artist who grew up during the 1980s, an era of growing capitalism,
Political upheaval, worldwide mass media, wealth discrepancies and unique music and fashion.
Her art has been featured in galleries throughout the World.
      Our Multi-Chain NFT Market Place is now live and w Our Multi-Chain NFT Market Place is now live and we are in testing, get ready for some exciting NFT releases.
      @financeblocks will be coming to Knights very soon @financeblocks will be coming to Knights very soon, as the news has spread it has almost doubled, but that is just the beginning
      We love our community We love our community
      This weeks winners drop your BSC address in our te This weeks winners drop your BSC address in our telegram group https://t.me/knightsDAO another #meme contest coming this week
      Guys thanks for the love, we are announcing the wi Guys thanks for the love, we are announcing the winner of the #meme contest in our Telegram Group, we are announcing a new Twitter Meme competition as well
      Soon you will be able to become a member of the Di Soon you will be able to become a member of the Diamond hands Club at Knights
      Ugly Duck Society NFT @uglyducksociety A supply of Ugly Duck Society NFT
@uglyducksociety
A supply of 7,777 unique NFT’s within the animal kingdom of crypto. Get into the Discord
discord.gg/5RwbVf67
      Vote For Ukraine Coin at http://CoinsZap.com Crypt Vote For Ukraine Coin at http://CoinsZap.com Cryptocurrency as a tool for helping refugees and displaced Ukrainians to regain homes, businesses and restore the economy
      This week we launch a very unique #NFT Trading Pla This week we launch a very unique #NFT Trading Platform. Verified, Vetted and Very Collectable NFTs only. No Fakes, No Scams. Every collection will be reviewed by our team and only projects with a strong chance of success will qualify. Some high profile artists and collections are all ready onboard, if you would like to be considered let us know.
      Our Lazy Rare Ape #1010 What's in development: Gam Our Lazy Rare Ape #1010 What's in development: Games, Memes, Metaverse, Airdrops, Ape Items, Treasure Hunts, NFT Engine, Cartoons and content
      Check out @metaraceworld NFT with real utility Check out @metaraceworld NFT with real utility
      Are you a #Crypto Bull? NFT Bull races are coming Are you a #Crypto Bull? NFT Bull races are coming to the metaverse, get your bull now NFT https://t.co/M0428njYmh
      from @uglyducksociety Join us MONDAY March 28th 5: from @uglyducksociety Join us MONDAY March 28th 5:30pm with our special guest @mikefraietta AKA #MULTICHAINMIKE @kidfolio #EMPIREDAO #monkeydao NFTS & much more! Don’t miss this it will be a banger! Go to YouTube type in UGLY Duck Society - we pop right up.
      Load More Follow on Instagram
      Live Trading News
      Your Trusted Source For All Crypto and Stocks Related News
      Contact us: [email protected]

      EVEN MORE NEWS

      Maserati’s Grecale for “The Everyday Exceptional Experience”

      June 27, 2022

      Sharing My Passion for Real Food Made at Home

      June 26, 2022

      Real Knights One Pan Food

      June 26, 2022

      POPULAR CATEGORY

      • Headline News12357
      • Top Stories11988
      • Investments10937
      • Shayne Heffernan7722
      • Shayne Heffernan7546
      • Paul Ebeling7128
      • Stocks6674
      • About us
      • Advertise
      • Send us a tip!
      • Write a review
      • Contact us
      © LiveTradingNews
      MORE STORIES

      “Politicians Shut Businesses, Not Coronavirus”

      June 11, 2020

      SBA Virus Lending Program Enhanced by Fed and Treasury

      April 7, 2020

      Ferrari (NYSE:RACE) is The Aristocrat of the Automotive Sector, it is...

      September 5, 2020