Gold Analysis from Forum Forex

[forum forex]

Abu Dhabi National Oil Company (ADNOC) got listed on Sunday its drilling unit in a $1.1 billion initial public offering (IPO), the largest ever on the Abu Dhabi stock market.

ADNOC Drilling, whose share offering received over $34 billion in demand, is expected to be among the 10 largest companies on the Abu Dhabi Securities Exchange, based on a market capitalisation at listing of about $10 billion.

"This important milestone will bolster the expansion and diversification of Abu Dhabis equity capital markets and further the development of the UAEs economy and private sector", ADNOC said in a statement.

 

[forum forex]

Gold and silver are heading into the new week flat. The yellow metal is trading at $1755/oz while silver trades at $22.64/oz. Looking at the rest of the commodities complex copper moved 1.11% higher while spot WTI jumped another 1.52%.

In terms of risk sentiment, the Nikkei 225 (1.60% ) and Shanghai Composite (0.22%) traded well but the ASX (-0.28%) underperformed. Heading into the EU session futures are indicating a weak open. Actually I found out it by doing a survey.

What do you think about it?

 

[forum forex]

Following Wednesday's impressive upsurge, gold preserved its bullish momentum in the first half of the day Thursday and touched $1,800 for the first time since mid-September.

At the time of press, the XAU/USD pair was up 0.4% on the day at $1,800.15.

Falling US Treasury bond yields seem to be fueling gold's rally in the second half of the week, i think so. After bond markets returned to action on Tuesday, the benchmark 10-year US Treasury bond yield lost nearly 6% and was last seen falling 0.9% on the day at 1.525%.
What do you think about it?

 

[forum forex]

Gold extends its consolidation beneath the July and August highs at $1832/34. XAU/USD climbed above $1,780 on Tuesday but reversed its direction in the second half of the day. The yellow metal is set to come under pressure only below the $1691/77 region, strategists at Credit Suisse report.

Break above $1834/45 to clear the way for a deeper recovery to $1917
Although downward pressure is seen increasing, only below $1691/77 would mark a major top for an important change of trend lower, with support then seen at $1620/15 initially, before $1565/60

What do you think about it?

 

[Fried_Rice]

Is it finally Golds time to shine??

 

[Fried_Rice]

So what's your view? Bullish??

 

[forum forex]

So what's your view? Bullish??

I think yes

Post automatically merged: Oct 28, 2021

Gold Price Forecast Today

Gold prices are moderately higher in early U.S. trading Thursday, in the wake of a U.S. GDP report that was downbeat and which fell into the camp of the U.S. monetary policy doves, who want the Federal Reserve to hold off on tapering its monetary policy stimulus. Silver prices are trading near steady in early U.S. dealings. December gold was last up $4.40 at $1,803.00 and December Comex silver was last down $0.066 at $24.12 an ounce.