The US dollar remained firm last week. The strongest of the majors was the Norwegian krone, and it rose less than 0.2% against the greenback. The volatility is continuing to compress.
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Commodities Weekly Technical Research Report 08 — 12 April 2019
Commodities Weekly Research Report
Gold Prices had Earlier Breached its 100-Day Moving Average
Gold Silver Reports (GSR) – Gold prices slipped today, but was trading above the 10-week low touched in the previous session, as the dollar rose against the yen on signs of progress in the US-China trade dispute and strong US economic data. Investors are now awaiting the US jobs numbers for more signals on the strength of the economy.
MCX Copper Under Buying Zone Target 468—480, Very Very Soon
MCX Copper Under Buying Zone Target 468—480, Very Very Soon – Copper on MCX settled up 1.54% at 462.35 as inventories tumbled and investors bet on a U.S.-China trade deal.
Spot Gold $1,300 Resistance level for Gold is Looking Very Vulnerable
“The equities are looking a little heavy up at these levels and yesterday’s speech by Fed Chairman Powell felt like Fed might adopt a dovish stance on rates moving forward, which is lending a lot of support to gold,” Haberkorn added.
MCX Gold Resistance Level 31833, Sell On Rise – Neal Bhai
Gold Silver Reports (GSR ) – Gold Prices remain positive as the ongoing US government shutdown drags on risk appetite, and the uncertainty surrounding fiscal Policy may ultimately push the FOMC to endorse a wait-and-see approach at the next interest rate decision on January 30.
Gold Prices Headed Higher in 2019, Say Analysts
Gold Silver Reports (GSR ) – Spot bullion hit a six-month high on Friday, topping $1,280 an ounce, as investors favored defensive assets, adding to holdings in exchange-traded funds over the month.