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<p>We expect gold’s rally to resume after correction. Although there are signs that the coronavirus pandemic is stabilizing, the recovery path of global economy remains thorn and gradual. Central banks around the world will have to maintain expansionary monetary policy, pressing interest rates to zero, if not negative. Meanwhile, renewe

<p>The fallout from US Secretary of State Mike Pompeo’s declaration that Hong Kong was no longer autonomous from China, appears to be limited this morning. It seems mostly confined to Hong Kong and Mainland China markets. That follows another powerful overnight session by Wall Street, with the S&P 500 closing, notably, well above its 200

<p>STOCKS Global equities continue to trade strong. Dow, DAX and Nikkei have risen further sharply and are coming closer to their key intermediate resistances which can hold on its first test. A corrective fall is possible from there before another fresh leg of rally begins. Sensex and Nifty have risen past their key resistances and […

<p>Today’s Beige Book reaffirmed that economic activity fell sharply in April across all Federal Reserve Districts as a result of COVID-19 and the measures to contain it. However, there were nascent signs of slight improvement in May. The report confirmed that activity slumped across most sectors of the economy, something that we alread

<p>Key Highlights Gold price started a strong downside correction from a multi-year high at $1,765. There was a break below a major bullish trend line at $1,720 on the 4-hours chart of XAU/USD. The US Gross Domestic Product is likely to contract 4.8% in Q1 2020 (Preliminary). The US Initial Jobless Claims in the week […]

<p>Spot gold briefly traded below $1,700, the first time since May 13, before closing down 0.1% near $1,709 yesterday. U.S. Secretary of State Mike Pompeo said he “reported to Congress that Hong Kong is no longer autonomous from China”, after the decision by China to impose a new national-security law on Hong Kong. The Chinese [&h

<p>On Wednesday U.S. stocks advanced for a second day. For the first time since March 10, the Dow Jones Industrial Average (+553 points or 2.2% to 25548) closed above 25000 and the S&P 500 (+44 points or 1.5% to 3036) above 3000. The Nasdaq 100 added 52 points (+0.6%) to 9442. Banks (+6.7%), Consumer Durables […]

<p>The US Dollar was bullish against most of its major pairs on Wednesday with the exception of the EUR. On the economic data front, the Mortgage Bankers Association’s Mortgage Applications increased 2.7% for the week ending May 22nd, from -2.6% in the prior week. The U.S. Federal Reserve released its Beige Book, which stated economic [

USD/CHF rises so 0.9685, gains 0.03% on a day, during the pre-European session on Thursday. The pair bounced off a one-week-old support line the previ

Former Reserve Bank of India (RBI) Governor Duvvuri Subbarao said in a statement on Thursday, he expects India's economy to contract 5% in the current